Everything you need to know about the FAFSA, the application for federal, state, and institutional need-based aid.
Apply for Need-Based Assistance
To apply for need-based assistance, you must complete the Free Application for Federal Student Aid (FAFSA) and be admitted to Georgetown College.
Completing the FAFSA
It’s important to note that Georgetown doesn’t require that you complete the FAFSA, but we do encourage it. If you’re unsure whether it’s going to be beneficial for you to complete it, give us a call and we’ll talk with you about your situation.
The FAFSA is the Free Application for Federal Student Aid. Although the title implies that the form is only for “federal” aid, it is also used to determine your eligibility for state grants and additional college grants.
In a nutshell, the form asks for financial information about the student and his/her family. This can be done after October 1 of a high school student’s senior year. Particularly for Kentucky residents, it’s important to have the form completed as soon as possible after October 1.
The FAFSA is probably more intimidating than it is complicated. One of the Financial Planning staff members will be glad to sit down with you and work through the FAFSA. Except in unusual circumstances, we’re able to help a family complete the FAFSA in 30 minutes.
Where To Find the FAFSA
The FAFSA form is available directly from the Department of Education’s website. Apply Online and access the page directly. Georgetown College will receive the information electronically if you list our school code (001964) on the FAFSA.
How To Receive Assistance
Admitted students receive an award letter listing the types of assistance being offered. By checking acceptance of each type of assistance, and signing and returning the award letter to the Student Financial Planning Office, the account will be credited for the amount of the award. EXCEPTIONS: If Federal Work-Study is part of the aid package, this amount will not be a credit on your account. This is an award that must be earned. All Georgetown aid is based on full-time, residential status. If you drop below full-time or are granted a waiver to live off-campus, your aid will be adjusted accordingly. All college aid is limited to four years (eight semesters).
IRS Data Retrieval Tool
Filing the FAFSA is easier with the IRS Data Retrieval Tool. Use this tool to link your FAFSA to your IRS tax return and automatically pull in your tax information. If you have trouble using this tool, you may request a tax return transcript from the IRS. Below are instructions for both processes.
Once the IRS has validated your identification, your previous year's Federal Income Tax information will be transferred. Note that as an enhanced security measure, you will not be able to see your tax information. However, you will get a confirmation that the data was transferred successfully.
IRS Data Retrieval Tool Instruction for Parents and Students
- Tax Filers have the capability of transferring their tax information directly from the IRS onto the FAFSA with a few clicks.
- Go to studentaid.gov
- Click on Login under Returning User
- Enter student FSA ID as requested
- Select Make Correction to FAFSA
- Click on Financial Information Tab
- Change drop down box from Will File to Already Completed
- Enter Parent FSA ID and click on Link to IRS
- The next screen will inform you that you are leaving FAFSA on the WEB. Click OK to continue.
- The IRS.gov screen will appear next. Enter information requested and click Submit.
- Once the IRS has validated your identification, your prior-prior year's Federal Income Tax information will be transferred. Note that as an enhanced security measure, you will not be able to see your tax information. However, you will receive a confirmation that the data was transferred successfully.
- Follow the instructions to return to FAFSA on the Web to complete your FAFSA
- Remember to electronically sign and submit the FAFSA again.
IRS Tax Return Transcript Request Instructions for Parents and Students
Tax filers can request a transcript be mailed to you, free of charge, by ordering online.
- Go to www.irs.gov
- Under the Tools section, click “Get Transcript for My Tax Records”
- Click “Get Transcript by Mail”
- Create an Account and follow the instructions
- Make sure to request a Tax RETURN Transcript and not a Tax Account Transcript. Once you can receive the transcript, mail or email the document to Georgetown College, Office of Student Financial Planning, 400 East College Street, Georgetown, KY 40324, or email to [email protected].