Applying for Financial Aid
- First, students should go to the Federal Student Aid website and get a FSA ID. One parent of a dependent student must get an ID as well at this site. IDs are used to electronically sign the FAFSA, which is mandatory for successful completion of the application. IDs are usually available to use within 48 hours after applying for them. Keep track of the ID, as you will be using it throughout your college career.
- After securing your ID(s), complete the 2015-16 FAFSA application on the Federal Student Aid website. The FAFSA should be completed before May 1 each year.
- When completing the FAFSA, be sure to list Lycoming College. The Federal School code for Lycoming is 003293.
- You will find the application easier to complete if you have already filed your 2014 federal tax returns with the IRS.
- If you must, use estimated income figures in order to file by the May 1 deadline; you can always go back online and make the necessary corrections after the taxes are filed.
- Use the IRS Data Retrieval Option for both the student and parent(s).
- This option is usually available within two weeks after electronically filing tax returns with the IRS, or within six weeks if taxes are filed through the mail. Using this option will speed up the entire process and will help eliminate common mistakes.
The FAFSA application is the only application Lycoming College requires in determining financial aid eligibility. The Lycoming Financial Aid Application (LFAA) is no longer required.