What is the purpose of a FAFSA Renewal form?
Financial situations change. Maybe one of your parents got a promotion and is able to pay for more of college. Or last summer's internship paid very well, and allows you to contribute quite a bit to your education. Whatever the situation is, the U.S. government requires students to renew the FAFSA every year, if they're interested in applying for federal financial aid and certain scholarships.
Do I need a FAFSA renewal if I'm in grad school?
Do I have to complete the entire FAFSA all over again?
No, you don't. With the renewal FAFSA form, you just need to update your original FAFSA with any new personal or financial information that has come about recently. If nothing has changed, then this will be a very quick process and there's no reason why you shouldn't go ahead with renewing your FAFSA.
Important Changes to the FAFSA Renewal Process
You'll notice when you go to file your FAFSA on the web that there is no renewal option in the drop down box. Don't panic - the Department of Education has changed how renewals are done. Just choose the current year's FAFSA from the menu, and your previous year's information will be automatically carried over into a new FAFSA. You only need to update the parts that have changed from year to year.
What if I know I won't be approved for federal loans?
Try anyway! The FAFSA calculation is very complicated and it's tricky to know whether or not you'll be eligible for federal loans. In addition, you may be eligible for college scholarships or federal grants from the college/university you attend but they do require the FAFSA be filled out. So, take an hour or two and apply for the FAFSA. You never know!
More FAFSA Questions and Answers:
- What are the FAFSA deadlines?
- Who is a dependent student?
- What's my FAFSA status?
- What is a dislocated worker?
- What if my parents do not want to submit their information for the FAFSA?
- I filled out my FAFSA but was not eligible, what do I do now?
- What is the purpose of a FAFSA Renewal form?
- What if I have a non-traditional family situation?
- What's my FAFSA PIN?
- Do I have to fill out the FAFSA every school year?
- How do you go about filling out the FAFSA if I am divorced and remarried? Does my ex fill one out as well? Do we list our current spouses?
- In order to get a Stafford loan or a Parent Plus loan, do I need to fill out a FAFSA?
- How do 529 plans affect financial aid?
- Can you mail me a FAFSA?
- Can you mail me a renewal FAFSA?
- How long is the FAFSA process?
- What are the final steps of the FAFSA?
- How long does it take for my school to receive the FAFSA?
- What's the difference between a FAFSA and a renewal FAFSA?
- What's the difference between a paper FAFSA and a FAFSA on the Web?
- Where should I mail my completed FAFSA paper application?
- What's the difference between a FAFSA application and a FASFA application?