FAFSA

It’s that time–new FAFSA’s are out for the 14-15 school year! To ensure the quickest and easiest application, please do the following:

1. If you are required to file 2013 taxes, please do so as early as possible using E-File (a paper tax return will delay the FAFSA process)
2. 3 weeks after you E-File (or 7-8 weeks if you file a paper return), you can go to fafsa.gov to complete your application.
3. Use the IRS Data Retrieval Tool when prompted to simply move your information from the IRS database into the FAFSA application–failure to use the IRS Data Retrieval Tool when asked to do so on the FAFSA will result in a delay in FAFSA processing.

This is a simple flow chart to give you an idea of the overall financial aid process. Use this as a guide to determine what your next steps should be. Don’t forget to look at our other pages for more detailed information regarding financial aid.

  1. Apply for financial aid by March 1 of every year for the following school year. Go to http://www.fafsa.ed.gov to complete the application.
  2. Within 5 – 10 business days, the financial aid office should have your results. Call 575-439-3710 to check on the status of your file.
  3. If your tax transcripts are being requested then we recommend you logon onto your FAFSA and use the IRS Data Retrieval option to link your tax information to the FAFSA.  If you need to obtain your tax transcript instead, then go to irs.gov and under “tools tab” click “order transcript.”
  4. Within 5 – 10 business days, these should be processed. You can check the status by calling us or going to the financial aid page at http://my.nmsu.edu.
  5. Once the processing is done, your file is reviewed and completed. Within 4 – 8 business days, you can see your awards at the financial aid page of http://my.nmsu.edu, or by visiting our office.
  6. Aid will pay out at the start of the semester, or within a few business days of the awards being posted, if the semester has already started. You can check with us to see when the financial aid pays out.
  7. Financial aid will credit to your student account, and is processed by Accounts Receivable at the Las Cruces campus. If there are funds left over after your charges have been taken out, a check will be cut to you, or the funds will be directly deposited into your bank account. You can sign up for direct deposit at the financial aid page of http://my.nmsu.edu.
  8. If you opt for a paper check, it is usually at our Business Office within 2 business days. If it is not here within 4 business days, call our Business Office at 575-439-3603 so they can assist you in tracking it down.
  1. Bring any required documentation in order to complete your file.  NMSU campuses have a new verification policy for FAFSA application, which can be found at http://nmsua.edu/aid/policies/#verification

10.  If you request a loan, and it is your first one, you must complete entrance counseling and a master promissory note at studentloans.gov.

11.  If you are receiving a scholarship, be sure to bring us the award letter as soon as you receive it. We will bill for scholarships about 3 weeks into classes, and they usually pay within 2 weeks after that.

12.  If you were not awarded work-study and you want to request work-study funding, you must stop by our office and complete a work-study request form. Check the financial aid page of http://my.nmsu.edu within 5 business days to see if you are eligible.


Helpful Financial Aid Videos:

Getting started with the FAFSA: video tutorial to help students complete the 2014-2015 FAFSA in seven clear and easy to understand steps.
1. http://fa.nmsu.edu/getting-started/video-tutorials/