There are multiple steps in the financial aid application process. Students must file the Free Application for Federal Student Aid (FAFSA) after Oct. 1st of each year to apply for aid for the upcoming year. Students are encouraged to apply by Buffalo State's priority filing deadline date.
The FAFSA can be found on-line at fafsa.gov. To expedite this process, students (and parents, if dependent student) will need to have an FSA ID. Apply at fsaid.ed.gov/npas/index.htm. The FSA ID serves as the electronic passport to federal student aid online.
After submitting the FAFSA, students receive a Student Aid Report (SAR). The SAR summarizes the information provided on the FAFSA, and indicates the Expected Family Contribution (EFC). Review the SAR carefully for errors (the form highlights items that may need attention) and follow directions for making corrections. Students are encouraged to submit corrections promptly to avoid long delays in processing or application. Retain a copy of the SAR for record purposes.
Based on financial information provided on the FAFSA, a thorough analysis of the students' and/or parents' financial strength, including income, assets, and number of family members in college, will be conducted by the federal processor, and the applicants' Expected Family Contribution (EFC) is computed. The EFC is the amount of money a family can reasonably be expected to contribute. Financial Aid is then awarded based on the resulting comparative measure of need.
Financial need is determined by subtracting the Expected Family Contribution (EFC) from the Cost of Attendance (an estimated budget that includes tuition, fees, room, board, books, supplies, transportation, and a personal allowance) . Students can only be funded up to the amount of the Cost of Attendance.
Approximately 30% of Buffalo State students will be required to complete the review of a student’s financial aid eligibility. This may include the submission of the IRS Tax Return Transcript and other supporting documents. This verification process is required to ensure the accuracy of information provided on the FAFSA. If selected, students (and parents, if dependent) will be required to provide the office with the requested documentation before aid will be disbursed to the student’s account.
It is very important for students to respond to all requests for additional documentation in a timely fashion.