Apply For The FAFSA To Fund Your Future

You've likely heard of the Free Application for Federal Student Aid, or "FAFSA." But did you know that an average of over $4 billion in federal grant money goes unclaimed each year by students who don't complete their application?

Filing the FAFSA is one of the most important steps you can take when preparing for college or career training. It opens the door to financial opportunities at the federal, state and institutional levels, and plays a pivotal role in funding your future.

What is the FASFA?

The FAFSA is the free, official form operated by the U.S. Department of Education that students use each year to apply for different kinds of aid. Examples of potential funding opportunities include federal grants, federal student loans, federal work-study, need-based aid, and state and institutional aid such as awards and scholarships.

Who can apply for the FAFSA?

U.S. citizens, dual citizens and eligible non-citizens may receive FASFA funding. Qualifying students should file the FAFSA annually.

How do you apply for the FAFSA?

Applying for the FASFA should be a smooth and stress-free process, especially if you take the right steps to prepare.

Follow the steps below to submit your Free Application for Federal Student Aid and handle everything that comes after with ease.

1. Create your studentaid.gov account and gather items from the FAFSA checklist

Unless you are considered an independent student (see below), a parent will need to file the FAFSA with you. Before starting the FAFSA, both you and your parent must create a separate studentaid.gov account. Each required contributor (parent, spouse, etc.) must create their own account using a different email address.

Your account will be needed for signing and submitting the FAFSA electronically, accessing and/or correcting your FAFSA after submitting it, viewing your FAFSA Submission Summary (FSS), signing loan agreements and more.

Once all accounts have been created, you and any contributor(s) will also need to collect any applicable items from the checklist below:

• Your studentaid.gov account information
• Social Security numbers for you and any applicable contributors
• Federal income tax information and records of income earned from two years before the academic year for which you are applying (see FAQs below for more information)
• Current bank statements
• Applicable records of investments, untaxed income or business and farm assets
• Alien registration information, if applicable

2. Complete your FASFA, enter your school codes and submit your application

Choose the FAFSA for the correct award year and go through the application with any contributors. Answer each question carefully and to the best of your ability, and ensure that all personal information, such as your Social Security number, is correct to avoid errors or processing delays.

Remember to enter the school code(s) for any college or trade school you might want to apply to. You can list up to 20 schools on your FAFSA at a time.

If you'd like to send your FAFSA information to Lincoln Tech, you can find a list of our school codes here. Because FAFSA codes at Lincoln Tech vary by location, you'll need to enter the code for your preferred campus.

How do I know if I am considered a dependent or independent student while filing FAFSA?

The following questions can help determine your dependency status for the FAFSA:

• Were you born before January 1, 2004? (NOTE: This is for the 2027-2028 FAFSA).
• As of today, are you married? Answer "no" if you are separated but not divorced.
• Are you currently serving on active duty in the U.S. Armed Forces for purposes other than training?
• Are you a veteran of the U.S. Armed Forces?
• Do you have children or other people, excluding your spouse, who live with you and receive more than half of their financial support from you?
• At any time since you turned 13, were you an orphan with no living biological or adoptive parent?
• At any time since you turned 13, were you a ward of the court?
• At any time since you turned 13, were you in foster care?
• Are you or were you a legally emancipated minor, as determined by a court in your state of residence?
• Are you or were you in a legal guardianship with someone other than your parent or stepparent, as determined by a court in your state of residence?
• Are you unaccompanied and either homeless or self-supporting and at risk of being homeless?

If you answer "yes" to any of these questions, you may be considered an independent student. If you answer "no" to all of these questions, you may be considered a dependent student and will generally need to provide your parent's information on the FAFSA. Your FAFSA will confirm your dependency status based on your answers.

Special circumstances:

• Emancipated Minors: If you are or were a legally emancipated minor, as determined by a court in your state of residence, you are considered an independent student for FAFSA purposes.
• Homelessness: If you are an unaccompanied youth who is homeless or at risk of homelessness, you may qualify as independent.
• Legal Guardianship: If you are in a legal guardianship (other than a parent or court-appointed guardian), learn more about how you may still be considered dependent.

What happens next?

• You will be issued a FAFSA Submission Summary that includes your Student Aid Index (SAI). The SAI is an eligibility index calculated from information reported on the FAFSA. It helps determine eligibility for federal and, in some cases, state or institutional need-based financial aid.
• Keep an eye on your email. Schools you listed on your FAFSA may reach out to ask for additional documentation before completing their review. Schools may also contact you should they encounter any errors that prevent them from downloading your information.
• After your information is processed, colleges and/or trade schools listed on your FAFSA will build you a financial aid package specific to that trade school or institution. At Lincoln Tech, this is called a "Funding Estimate." An admissions or financial aid representative will likely offer to review this information with you. Keep in mind that the FAFSA also helps to determine your eligibility for various types of institutional and state aid, so your financial aid package will be different for every school.
• If your program crosses into another award year, you may need to submit the next FAFSA as well.
• It's important to remember that you will need to file a new FAFSA for each award year that you are enrolled in a trade school or college.

Reviewing your financial aid package(s) or funding estimate(s).

Finding the "right fit" school for you means finding the institution that is the best fit for you academically, socially and financially. This means that you may find yourself needing to compare financial aid packages between different schools.

Always remember to take a close look at what each school includes in its cost of attendance (COA). While some schools include additional items such as books, materials and food in their net price calculations, other schools may not.

Don't be afraid to ask questions.

What comes next?

Stay in touch with the Admissions and Financial Aid Teams at any trade school or college of interest, and keep a close eye on the email address you used when filing your FAFSA.

This will help you navigate important next steps. These can include accepting or declining loans, applying for additional scholarships, outside funding or parent PLUS loans if needed, signing your master promissory note and completing your entrance counseling if accepting federal loans, applying for work-study positions on campus, fulfilling potential verification requirements, applying for Professional Judgement if you or your family experience a major change in financial circumstances and more.

Frequently Asked Questions

Should I still file the FAFSA even if I think I won't qualify for aid?

Yes. Some types of aid, like unsubsidized loans or institutional scholarships, aren't need-based.

On average, about 85% of students who file the FAFSA receive some type of financial aid nationwide, and about 90-95% of Lincoln Tech students who file the FAFSA receive financial assistance.

With an average of over $3 billion in federal grant money unclaimed each year by students who do not complete their FAFSA application, it's important that every qualifying student submit their Free Application for Federal Student Aid to see what funding opportunities may be available to them.

Do I have to pay to file the FAFSA?

No. The FAFSA is free and can be found at studentaid.gov. Avoid any website or service that charges a fee.

When should I submit the FAFSA, and when does it open?

You should file for the FAFSA as soon as it opens for your academic year. Many grants are first-come, first-served, and states and schools often have earlier priority deadlines.

The new FAFSA typically opens every October for the upcoming academic year.

What year's tax information do I or a contributor need when filing the FAFSA?

When filing the FAFSA, you/your contributor will need to provide tax year information from two years prior to the academic year for which you are applying. This is often referred to as the "Prior-Prior Year".

As an example, if you were completing the 2027-2028 FAFSA for the 2027-2028 academic year, you would need to use tax information from the year 2025.

Can I update my FAFSA after submitting?

Yes. You can log back in to correct errors or add school codes. If your family's finances change significantly, talk with your Financial Aid Office about a professional judgment review.

What if I'm not sure which schools I'll be applying to?

Add any schools you might be considering. You can always update your list later. Listing a trade school or college does not make you obligated to apply.

What if my parent(s) will not provide information?

Submit the FAFSA with as much information as you can, and contact your financial aid office. In limited cases, a dependency override may be possible.

Do undocumented or DACA students qualify for federal aid?

Undocumented and DACA students are not eligible for federal aid. However, completing the FAFSA may help schools or states evaluate eligibility for institutional or state aid. Check state and school policies and look for alternative aid applications when required.

How long does processing take?

Processing typically takes anywhere from a few days to a couple of weeks. Keep an eye on your studentaid.gov account and watch your inbox for emails regarding updates or document requests.

What is the difference between grants, work-study, scholarships and loans?

Grants and scholarships are gift aid and generally do not need to be repaid. Loans must be repaid with interest. Work-study provides part-time jobs to help cover educational expenses.

What is the difference between subsidized and unsubsidized federal loans?

Unsubsidized loans are not need-based and accrue interest while you are in school. Subsidized loans are need-based, and the government pays interest while you are in school, during grace periods or if you are in deferment.

What should I do if I need help?

Visit the "Contact Us" page at studentaid.gov. You can contact your school's Financial Aid Office or reach out to the office at your specific Lincoln Tech location if you're thinking of applying to Lincoln Tech.

You'll also find several resources below that may be helpful to you.

Additional resources

Use these helpful resources to learn more about the ins and outs of the FAFSA and financial aid, and to discover how Lincoln Tech can support your journey toward funding your future.

• Visit the Federal Student Aid YouTube channel.
• Lincoln Tech financial assistance.
• Additional Lincoln Tech financial aid Information.
• Lincoln Tech financial resources and tools.
• Lincoln Tech FAQs and campus FAFSA codes: Frequently Asked Questions | Lincoln Tech
• See what scholarships are available to qualified students.