Important 2012-2013 FAFSA Information For Students and Parents

March 15, 2012 at 9:18 am

NOW is the time to file your 2012-2013 FAFSA at www.fafsa.ed.gov!

IMPORTANT: Updates have been made to the FAFSA (Free Application for Federal Student Aid) to include an IRS Data Retrieval Process that will allow students and parents (once they have filed their tax returns) to populate their tax return information on the FAFSA. Complete and file your 2011 Federal Tax Return with the IRS for both students and parents as soon as possible and approximately 3 weeks after you file your tax return with the IRS you can go to the FAFSA and use the IRS Data Retrieval Process by clicking  ‘LINK TO IRS’.

Note: Married students who file separate returns or Parents of a Dependent student who file separate returns may not use the ‘LINK TO IRS’ retrieval.

FAFSA VERIFICATION: The Department of Education has also updated regulations for students who are selected for Verification. The Financial Aid Office can no longer accept copies of Federal Tax Returns. Students whose FAFSA has been selected for Verification MUST use the IRS Data Retrieval Process on the FAFSA or request a copy of their Federal Tax Return Transcript by calling the IRS at 1-800-908-9946.

How to request a Federal Tax Return Transcript:

1) Online Request:
Access www.irs.gov – in the online services section click ‘Order a Tax Return Transcript’. Enter the tax filers data (ssn, dob, address, etc.) and continue. In the Type of Transcript field select ‘Return Transcript’ (not account transcript) for the Tax Year 2011. Once this request is validated the IRS will mail you the transcript and you will need to forward it to the Financial Aid Office.

2)Telephone Request:
Call 1-800-908-9946 and enter tax filers data (ssn, dob, address, etc.) then select Option 2 to request an IRS Tax Return Transcript for 2011. Once this request is validated the IRS will mail you the tax return transcript and you will need to forward it to the Financial Aid Office.

3) Paper Request Form – IRS Form 4506T-EZ
Download the request form at http://www.irs.gov/pub/irs-pdf./f4506tez.pdf and complete lines 1-6 for 2011. Be sure to sign the form and enter your telephone number. Mail or fax it to the appropriate address or number on the form. Once this request is validated the IRS will mail you the tax return transcript.

REMEMBER:  Your Upstate Email Account is our main form of communication with you, allowing you quicker access to important information concerning Financial Aid.

Please make sure to check your Upstate E-mail Account frequently in order to comply with new Federal Regulations concerning Financial Aid.

HELP: Call the Financial Aid Office if you have any questions at 864-503-5340 or e-mail us at finaid@uscupstate.edu.