FAFSA 2021–2022: What are the next steps?

October is a busy month. The FAFSA is now available, and parents and students may begin the process of securing financial aid for the 2021⁠–⁠2022 academic year.

Students who will attend MIAD in the fall of 2021 can begin the process of securing financial aid now at https://studentaid.gov/h/apply-for-aid/fafsa. Here is an overview of the FAFSA filing and financial aid timeline:

  • Students should file a 2021–2022 FAFSA for financial aid for the 2021–2022 academic year using your 2019 IRS tax return info.
  • The IRS Data Retrieval tool allows you to import 2019 tax data directly from the IRS. MIAD strongly encourages all FAFSA applicants to use this tool, as it provides the most accurate data.
  • The Department of Education randomly selects one out of every three FAFSA applicants for “Verification.” If your student is selected for verification, they will receive an email from the Financial Aid Office asking for specific documentation required to complete verification. Using the IRS Data Retrieval Tool on the FAFSA to import your 2019 federal tax information will simplify the verification process.
  • If you utilize the Parent PLUS loan to cover the outstanding balance for tuition and fees at MIAD or Room and Board expenses, you must apply for the PLUS loan each year. The Department of Education must perform an annual credit check to confirm eligibility. The application for a Parent PLUS loan is available online at studentloans.gov in April 2021.

MIAD’s Financial Aid Office can assist you and your student through the 2021–2022 financial aid process. Please contact the Financial Aid Office with any questions.

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