Complete the FAFSA at www.fafsa.gov. (Free Application for Federal Student Aid). The FAFSA must be submitted each year to determine eligibility for need-based grants, work and loans.
- Complete and file your 2014 federal tax returns for both the student and parents (or spouse as appropriate).
- For optimal filing, submit your taxes electronically. After approximately 10 days, the data will be stored within the IRS database and able to be transferred to your FAFSA.
- No sooner than February 1, 2015, file the FAFSA electronically (www.fafsa.gov) and instead of entering the students and parents tax information manually, click on “LINK TO IRS.” The tax information will automatically be entered from the Internal Revenue Service database onto the FAFSA.
This should allow for accurate information to be submitted and if selected for verification, this should greatly reduce the amount of time and effort needed to complete requirements for financial aid processing, awarding, and notification.
You are unable to use this IRS option if any of the following apply:
- You are married and filed separately.
- If a parent has a change of marital status after December 31, 2014.
- If anyone filed an amended tax return.
If the student is a South Carolina resident and both the student and parents have not completed their taxes by June 30, we recommend completing the FAFSA by entering the “estimated” tax information. If the FAFSA is not completed by June 30, the student will lose eligibility for the South Carolina Tuition Grant.