Hello MIAD Parents,
Happy New Year! We are excited to welcome students back to campus and begin processing financial aid for the 2016-2017 academic year. If your student will attend MIAD in the fall of 2016, they should complete the 2016-2017 FAFSA. Kristina and I will be available to assist you through the 2016-2017 financial aid process again this year.
During the beginning of the spring semester, I will be sending an email to all our current students reminding them that it is once again time to file their FAFSA for the 2016-2017 academic year. The 2016-2017 FAFSA application is very similar to the FAFSA 2016-2017 application. Let’s review:
- 1. You will be filing a 2016-2017 FAFSA for financial aid for the 2016-2017 academic year using your 2015 IRS tax return information. You can file a “Will File” FAFSA if you have not yet completed your 2015 Federal Tax return in order to meet all application deadlines. However, once you have completed your tax return, we recommend that you update your FAFSA application to an “Already Completed” tax filing status and use the IRS Data Retrieval Tool to provide tax return information.
- 2. The Department of Education continues to work with the IRS to allow FAFSA filers to import their tax information submitted to the IRS using the “IRS Data Retrieval Tool” on the FAFSA. MIAD strongly encourages all FAFSA applicants to use this tool. This tool is available to you two weeks after you have electronically submitted your tax return or six to eight weeks after you mailed in your paper tax return.
- 3. The Department of Education randomly selects one out of every three applicants for “Verification.” If your son or daughter is selected for verification, they will be sent a letter from the MIAD Financial Aid Office asking for the specific documentation required to complete your verification. Using the IRS Data Retrieval Tool on the FAFSA to import your 2015 Federal Tax information will simplify the verification process for you.
- 4. Last but not least – Parents who rely on the Parent PLUS loan to cover the outstanding balance for tuition and fees at MIAD or Room and Board expenses must apply for the loan each year. The Department of Education requires the application for a credit check annually. The application for a Parent PLUS loan is available online at www.studentloans.gov after May 1, 2015.
We look forward to working with you this year. Do not hesitate to contact us if you have any questions.
Carol Masse
Executive Director of Financial Aid