Filling Out the FAFSA Application
To be considered for any federal financial aid you must complete the Free Application for Federal Student Aid (FAFSA)
Complete FAFSA on the Web (www.fafsa.ed.gov) as soon after October 1 as possible. The priority date at CMC for applying for financial assistance is March 31 for the following academic year (fall through summer semesters).
Make sure you have completed your Colorado Mountain College admissions application.
Big FAFSA Changes!
No need to wait until January 1st to submit your FAFSA for the 2017/18 academic year! Students and parents can submit a new or renewal FAFSA as early as October 1st at https://fafsa.ed.gov/ . If you and at least one parent (if a dependent student) have your FSA ID, you are ready to go! If you have not yet obtained your FSA User ID and password, you can at: https://fsaid.ed.gov/npas/index.htm .
We are excited about this change and want to encourage you to start your 2017/2018 FAFSA at your earliest convenience, and don’t worry about having your taxes done. Beginning now, FAFSA filers for the upcoming year will use tax information from 2 years ago as opposed to the prior year. This means you don’t have to wait until your taxes are done to file your FAFSA. Now you can use the IRS Data Retrieval Tool (DRT) that will pull your 2015 tax information directly into your FAFSA. For more information about these changes go to: https://studentaid.ed.gov/sa/sites/default/files/fafsa-changes-17-18.pdf .
What Information is Requested From You and Your Parents?
Sometimes students and parents are surprised or dismayed when they are asked to furnish personal financial information to obtain financial aid. Please understand that most or all of the data is sought from you to meet the requirements of the federal government and to insure that the financial aid programs are administered fairly to all students. The federal need analysis formula utilizes information about your family’s income, assets, benefits, and exemptions to determine how much (if any) discretionary income the family should contribute to educational expenses.
In order to fill out the FAFSA, you will need:The CMC school code: 00450600 Your Social Security Number (as well as your parents’ if you are a dependent student) Your driver’s license W-2 forms or other records of money earned Your federal income tax information from the IRS Data Retrieval Tool (DRT) (Note: If you haven’t yet filed your taxes, you may estimate amounts, but you must correct any discrepancies once you have definitive numbers from your tax return.) Your parents’ federal income tax information from the IRS Data Retrieval Tool (if you are a dependent student) Your untaxed income records (Social Security, Temporary Assistance to Needy Families (TANF), welfare benefits, veterans’ benefits) Current bank statements Current information about any businesses (including farm income), investments (stocks/bonds/etc), real property, and mortgages. Your alien registration number or permanent resident card (if you are not a U.S. citizen)
Every year the U.S. Department of Education pulls a certain percentage of applications for a verification process. If you are selected for verification, you will be required to furnish documentation for the information you entered on the FAFSA. If additional documentation is required, you will receive an email with the appropriate link(s) to the form(s) needed. Be sure to keep copies of all forms, tax returns, etc. that you used as references when filling out your application.
Financial Aid awards are made for one year or less. All recipients must re-apply for assistance each academic year.
Summer Semester Financial Aid Application Process
To request assistance for the summer term, you must submit a summer aid request and, if not already submitted, a Free Application for Federal Student Aid (FAFSA).
Download the CMC Summer Financial Aid Application
State grant and work study funds are limited and may not be available in the summer. However, you may be eligible for a Federal Pell Grant or a student loan.