With the start of a new year, now is perfect time to start the financial aid application process for the upcoming 2014-2015 academic year.

For the best financial aid package possible, it’s very important to apply on time. The deadline for returning/continuing students, transfer students, and new graduate students is May 1st. Two forms are required:

1. The Georgia Tech Application for Scholarships and Financial Aid (GT APP) is available online at www.finaid.gatech.edu/forms and can be completed in a matter of minutes.
2. The second form is the Free Application for Federal Student Aid (FAFSA) and can be completed at www.fafsa.ed.gov. To ensure that it is processed and received in our office by the deadline, we recommend completing the online FAFSA (www.fafsa.ed.gov) 2-3 weeks before the deadline.

Note: Starting Fall 2014, entering freshmen have an additional requirement of completing the CSS PROFILE. For freshmen entering Georgia Tech Fall 2014, the application deadline for all three requirements is February 15th.

Ideally, the FAFSA should be filled out using information from a completed 2013 federal tax return. However, it’s better to use solid estimates than to miss the deadline. Completing the FAFSA and the GT APP on time ensures that your student will be considered for all available aid administered by our office.

The FAFSA now has a feature called IRS Data Retrieval. This process allows the government to extract your tax information and insert it onto your FAFSA. IRS Data Retrieval is a great tool to expedite completion of the FAFSA and improve accuracy. Completing IRS Data Retrieval reduces the chance of our office needing extensive tax documentation. If you are unable to use this feature when completing the FAFSA, you may have access to it once your tax return is processed by the IRS, and can then use it to update the FAFSA.

 If you are still unable to utilize IRS Data Retrieval, we recommend requesting a copy of your 2013 Tax Return Transcript using the “Online Request” option on www.irs.gov/Individuals/Get-Transcript two-three weeks after the IRS has processed your tax return. The tax return transcript may not be needed and should only be submitted if it is listed as a requirement on BuzzPort. Requesting the transcript ahead of time will prevent delays if it is required.

For students who only apply for the HOPE/Zell Miller scholarship, just the GT APP is required each year. The HOPE/Zell Miller application itself is completed only once at www.gacollege411.org.

Now is also a great time to search for independent scholarships. Current and prospective Georgia Tech students are often excellent candidates for private scholarships. Our office posts scholarship notices at www.finaid.gatech.edu/scholarships/current.  In addition, helpful advice on planning a scholarship search can be found at www.collegeboard.com/parents/pay/scholarships-aid/21403.html.  It’s well worth the investment of a few hours to research the options.

For any questions about the financial aid application process, contact your financial aid advisor, listed at www.finaid.gatech.edu/contacts.