When your school gives you financial aid, sometimes money is left over after your aid is applied to your tuition, fees, and other school charges. This remaining amount is called a credit balance.

Why am I receiving less financial aid?

Common reasons for a change in the EFC include changes in income, assets, the number of children in college and non-financial information. Changes in the financial aid formula can also cause changes in the EFC. Errors on the financial aid application forms can also affect the EFC.

Why did I get so little from FAFSA?

Your child’s financial aid award is largely driven by your income. The more you have, the smaller your financial aid award will be. If your finances changed drastically in 2016, you still need to provide 2015 tax information on the FAFSA but should contact the financial aid office at the school to let them know.

Can I view my old FAFSA?

Go to: Select the “Log In” button and enter your account username and password (FSA ID). Only you, the student, should know or use your FSA ID. Select View or Print your Student Aid Report (SAR) from the “My FAFSA” page.

Do you get more financial aid if you apply early?

1 — and the sooner students file, the better. Some financial aid is awarded on a first-come, first-served basis, or from programs with limited funds. The earlier families fill out the FAFSA, the better the chance to be in line for that aid, according to Ashley Boucher, a spokeswoman for Sallie Mae.

How do I pull up my old FAFSA?

You can access NSLDS by visiting You will need to provide your Social Security number (SSN), the first two letters of your last name, your date of birth, and your FSA ID in order to gain access to your account.

What do parents need to know about the FAFSA?

The FAFSA®, Free Application for Federal Student Aid, asks for detailed financial information from both yourself and your parents. It assumes that your parents will help you pay for college, even though this isn’t the case for every student.

What happens if you do not provide information on FAFSA?

If you do not provide their information on the FAFSA form, the application will be considered “rejected,” and you might not be able to receive any federal student aid. The most you would be able to get (depending on what the financial aid office at your college decides) would be a loan called an unsubsidized loan.

Do you need to fill out FAFSA to get financial aid?

That’s because many states have financial aid funding they award based on your FAFSA information. Sometimes, states and colleges may require more financial information from your family. In those cases, they will have a supplemental form that you will need to fill out in addition to your FAFSA.

What to do if your household changes due to FAFSA?

If your household changes as a result of marital status (and only yours – the student who filed the FAFSA), contact your school’s financial aid office to see if you’re able to update the information.