How to Apply for Financial Aid

 How to Apply for Financial Aid

Applying for federal student aid is easier than ever—and we’re here to help you through it. Follow these steps to complete your FAFSA, avoid common mistakes, and stay on track with your financial aid at East Central University.

Step 1: Gather Your Documents

Before you begin the FAFSA, collect the following:

• Income tax returns (for student and parent, if dependent)
• W-2 forms or records of other income
• Social Security number(s)
• Driver’s license (if you have one)

Are you a dependent student?

Most students under 24 must include their parents’ information.

Step 2: Create an FSA ID

Your FSA ID is your login for all federal student aid systems. You’ll use it to:

• Sign your FAFSA electronically
• Make corrections
• View your Student Aid Report (SAR)

Parents of dependent students will need their own FSA ID too.

Create yours at: studentaid.gov/fsa-id

Step 3: Complete the FAFSA

Submit your FAFSA at studentaid.gov starting October 1 each year.

• It’s free to apply—never pay to file
• FAFSA determines eligibility for federal grants, loans, and work-study
• Most state and ECU scholarships require FAFSA info
• Use the IRS Data Retrieval Tool to transfer your tax data quickly and accurately

Reminder: Complete a new FAFSA every academic year.

Step 4: Review Your Student Aid Report (SAR)

After submitting your FAFSA:

• You’ll receive your Student Aid Report (SAR) by email (3–5 days) or mail (7–10 days)
• The SAR is a summary of your FAFSA
• It includes your Expected Family Contribution (EFC) and a Data Release Number (DRN)

Review your SAR for accuracy and correct any errors:

• Log in to studentaid.gov with your FSA ID to update
• ECU’s Financial Aid Office can also help you make corrections

Step 5: Submit Any Additional Documents to ECU

Once ECU receives your FAFSA, we may request more documentation.

Check your Colleague Self-Service account regularly to stay updated.

Common requests include:

• IRS Tax Return Transcript
• Statement of Non-Filing Letter
• Wage and Income Transcript (W-2 info)
• 2022–2023 or 2023–2024 Verification Forms (V1, V4, V5)

How to Get IRS Transcripts:

• Online: irs.gov/get-transcript
  Select “Get Transcript by Mail”
• Phone: Call 1-800-908-9946

Step 6: View and Accept Your Awards in Self-Service

After your file is complete:

• A financial aid counselor will review your eligibility and enrollment status
• You’ll receive an email when your award is ready in Colleague Self-Service

Things to know:

• You can accept or decline Direct Loans
• Scholarships, grants, and OTAG are automatically accepted if you’re eligible
• Aid will post to your student account before the payment deadline
• Any refunds will be issued by direct deposit or check

Financial Aid Deadlines

Don’t miss out! Submit your FAFSA and documents by these important dates:

Helpful Tools

• FAFSA Worksheet (PDF)
• 7 Easy Steps to the FAFSA
• Video Guides on StudentAid.gov