Produced by the financial aid office at UC Santa Barbara, "7 Easy Steps to the FAFSA: A Student's Guide to the Free Application for Federal Student Aid" is designed to help prospective students complete the 2010-11 FAFSA in seven clear and easy-to-understand steps. It can be found at www.finaid.sa.ucsb.edu/FAFSASimplification/index.html.
The deadline for submitting a 2010-11 FAFSA for UC Santa Barbara financial aid is March 2, 2010.
"More than 300 higher education institutions used our tutorial last year, and I expect that number to grow this year," said Mike Miller, acting director of the UC Santa Barbara Office of Financial Aid. "The Obama administration is placing an emphasis on simplifying the financial aid application process, but it's still a complicated one. The tutorial gives students — and parents — step-by-step instructions."
To determine the kind and amount of financial aid for which a student is eligible, the U.S. Department of Education conducts a "need analysis" using the financial information included on the FAFSA. The analysis considers factors such as income, assets and other household information, which the student and his or her parents are asked to provide. The completed form is then submitted to a federal processor contracted by the Department of Education, and results are electronically transmitted to the financial aid offices of the schools listed on the student's application.
The form is also required for participation in UC's Blue and Gold Opportunity Plan, which covers systemwide fees for California residents whose families earn less than $70,000 and who qualify for financial aid.
Even students who don't qualify for need-based financial aid must complete a FAFSA in order to be considered for most federal student loans. Nearly every student is eligible for some form of financial aid, including low-interest Federal Stafford and/or parent PLUS loans, regardless of income or circumstances.