October 14, 2022

Filling out FAFSA early maximizes financial aid eligibility

A student looks at her phone.
The 2023-24 Free Application for Federal Student Aid (FAFSA) submission process is now open.

For students looking to maximize their financial aid eligibility, the 2023-24 Free Application for Federal Student Aid (FAFSA) submission process is now open.

“The FAFSA is available starting Oct. 1, and our goal is to promote early filing so that high school students can compare financial aid offers early,” said Cathy Kay, director of the Office of Student Financial Aid. “It is important for students to get a picture of their finances early so that they are prepared for college. The earlier they file, the more chances they have to be eligible for scholarships and grants.”

To help students, the Office of Student Financial Aid is offering virtual FAFSA Fridays in October and November, during which a financial aid officer will assist students and parents with the filing process. Students are encouraged to sign up early.

Financial aid officers are also available to help students with questions about the process.

For many families, the IRS Data Retrieval Tool will transfer income and tax information from the 2021 tax return to the 2023-24 FAFSA and accurately fill in the data fields. This will save time in completing the FAFSA as well as later, should the Financial Aid Office need to review their application. 

“Using the data retrieval tool is important because it not only simplifies the process of filing a FAFSA but can also save students and families from delays later in the awarding cycle,” said Kay.

Some of the items needed to fill out a FAFSA:

  • Federal Student Aid IDs for the student and the parent(s)
  • 2021 tax return information
  • Information on child support payments
  • Current bank statements
  • Investment accounts (if applicable)
  • Social Security numbers
  • Student name must be listed on the FAFSA as it appears on the student’s Social Security card

To be considered for a WSU Grant award, the FAFSA must be filed and received by the financial aid office by March 1, 2023. FAFSAs filed after March 1 will be only considered for the Federal Pell Grant and Federal Direct Loans. A step-by-step FAFSA help guide, as well as detailed information about federal financial aid, is available at studentaid.gov.

Michigan residents should file the FAFSA by March 1, 2023, to be considered for a State of Michigan scholarship.

Additional information about WSU financial aid is available at wayne.edu/financial-aid.

File the FAFSA online at studentaid.gov using the Wayne State University school code 002329. Contact the Student Service Center with any questions about the financial aid process at studentservice@wayne.edu.

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