1. Create a Federal Student Aid (FSA) ID:
All contributors must apply for a Federal Student Aid (FSA) ID which will be used every year on the Free Application for Federal Student Aid (FAFSA) and Master Promissory Notes (MPNs) for federal student loans. If you are a current student and have previously submitted the FAFSA, you should already have an FSA ID. A contributor is anyone who is required to provide information on the FAFSA form and sign your form. Contributors may include you, your spouse, your biological or adoptive parent, or your parent’s spouse. To determine who is a contributor, you can watch this short video from Federal Student Aid.
Create a New FSA ID
2. Complete the Federal Application for Financial Aid (FAFSA):
If you completed the form online and included the ABAC school code (001541) on the application, it will be processed, and then your information will be released to our office. It typically takes 3-5 business days for your FAFSA to be sent to us. If you complete the FAFSA by hand, please submit it to the Department of Education for processing (Federal Student Aid Programs, PO BOX 4691, Mt. Vernon, IL 62864-0059).
NOTE: Processing can take up to three weeks or longer, depending on the time of year for online submission and six weeks or longer if submitting the paper application by mail. Your information will be available with current updates through Banner. Please check BANNER for ALL updates.
Once your FAFSA information is received, we will contact you through your ABAC email address. Required documents will also be listed on Banner.
Complete the FAFSA
You can also download the new myStudentAid Mobile App to complete the FAFSA and log onto your Federal Student Aid dashboard!
3. Submit Supporting Documentation
If the U.S. Department of Education has selected you for verification, you will need to submit additional documentation for us to verify that your application is correct. If we need further information, we’ll send you an email. You must submit all requested documents before we can finalize your financial aid award, so be sure to get them to us as soon as possible.
Prospective Students Without MyABAC Credentials: https://studentaid.gov/apply-for-aid/fafsa/review-and-correct
Current and Admitted Students with MyABAC Credentials: https://my.abac.edu
4. Wait for you Financial Aid Offer Notification
Once your FAFSA has been received by the school and processed, a Financial Aid Offer Notification will be emailed to your ABAC email account with financial aid information.
NOTE: Please read the Financial Aid Offer Notification thoroughly.
Keep in mind that if anything changes on the account, the type of aid and/or amounts can also change. Your information will be available with current updates through Banner. Please check Banner for all updates.
If you have been offered federal and/or state funds (i.e. HOPE, Pell, SEOG, scholarships, etc.), these are automatically applied to your account once you have registered for classes. (Some of these amounts may be adjusted if your enrollment status changes by adding or dropping classes).
NOTE: Please check with a Financial Aid Counselor if you are interested in the Federal Work-Study program to see if you are eligible.
Your financial aid offers will also be posted in Banner. Aid is authorized on accounts for students who are registered for classes.
If you will not need additional funding through the Federal Direct Loan Program, you have completed the financial aid process!
Loans are offered to you when aid is posted in Banner. For more information, see Student and Parent Loans.
Once aid is authorized on your account, you can use excess aid to purchase books and supplies in The Stallion Shop (bookstore). Excess financial aid is usually refunded after the fourth week of classes if you are not a new student or first-time loan borrower. If you are a first-time loan borrower or have a single-term loan, excess funds will be refunded around mid-term.