Student aid applications available from state

Harrisburg, - Now is the time to be applying for federal student aid. The Pennsylvania Higher Education Assistance Agency is reminding students and families that the 2007-08 Free Application for Federal Student Aid (FAFSA) is now available and should be completed as soon as possible. This form determines eligibility for almost all types of federal, state and institutional student aid, including the Pennsylvania State Grant. Students and parents (in single parent households, the parent the student lives with most) will need to complete the form. Families are encouraged to complete the federal form as soon as possible after Jan. 1 to ensure that all student aid deadlines are met. Tax information is required from students and parents so families should either file their taxes prior to completing the aid form or submit their form based on 2006 estimated tax information. Traditional paper forms are available from school counselors, the postsecondary school students are planning to attend or the U.S. Department of Education by calling 800-4FE-DAID. Families may also submit the federal form electronically at EducationPlanner.org, PHEAA’s award-winning college planning Web site, or at fafsa.ed.gov. EducationPlanner also offers a free federal aid form tutorial to help families better understand the application. Filing your form electronically speeds up turnaround time and helps eliminate errors. Students and parents filing the federal form online will need a Personal Identification Number (PIN) to serve as their electronic signature. Visit pin.ed.gov to obtain your PIN before completing the form. The federal government will send applicants and their chosen schools a Student Aid Report (SAR) about one week after filing electronically and one month after filing a paper federal aid form. The report identifies a student’s Expected Family Contribution (EFC) toward their education costs. The difference between a student’s annual education costs and their family contribution determines their financial need. Those schools which a student is considering attending will use the information to ensure that the student receives the most comprehensive student aid package possible to cover their remaining costs. If a student indicates an interest in student loans on the federal form, the state assistance agency will send him a Master Promissory Note (MPN). If a note is not received the student may complete one online at PHEAA.org or contact a PHEAA customer service representative toll-free at 800.692.7392. Students should always take advantage of gift aid, such as grants and scholarships, before taking out a student loan. However, when a student loan is necessary, students should exhaust all eligibility for low-cost federal student loans, such as state agency’s KeystoneBEST student loan. KeystoneBEST is Pennsylvania’s most affordable student loan program and can save borrowers thousands of dollars over the life of the loan. State agency regional directors will be offering a series of free federal aid form completion workshops throughout the Commonwealth from January through March. For a complete list of workshops, visit PHEAA.org, click on “Plan For College” and then click on “Complete the FAFSA” and “Locations & Registration” in the left-hand navigation bar. PHEAA powered by American Education Services The Pennsylvania Higher Education Assistance Agency is the nation’s leading nonprofit student aid organization. The agency’s public service mission is powered by American Education Services (AES), our commercial business enterprise. The earnings generated by AES through loan guaranty, servicing and student aid processing systems fund our $72.5 million supplement to the state grant program, millions of dollars in free scholarships and loan forgiveness, award-winning online planning tools and the nation’s lowest-cost student loans - all at no cost to taxpayers. For more information, please visit the Web site at www.PHEAA.org .