College Planning & Financial Aid

Your Data Release Number is a four-digit number assigned to your application by the U.S. Department of Education and printed on the top right corner of your Student Aid Report (SAR). Anyone wanting to receive or change your FAFSA information must have your DRN in order to do so. Do not give out your DRN to anyone unless you have agreed to give them access to your FAFSA information.

If your school is authorized by the Department of Education, and uses the Master Promissory Note as a multi year note, you will only have to sign the note once as long as you don't change lenders. If you attend a two year or proprietary school, you will need to complete the Master Promissory Note each year. If your Master Promissory Note exceeds 10 years, you must sign a new Master Promissory Note.

No. Unlike the previous Stafford Loan Application Promissory Note, the Master Promissory Note is simply the promissory note. Rather than completing a separate application, you begin the loan process each year by answering "yes" to the question on the Free Application for Federal Student Aid (FAFSA) that asks if you are interested in student loans. The financial aid office will advise you of any additional steps they require in the application process such as completing a loan request or loan information form.

The Master Promissory Note has replaced the Stafford Loan Application Promissory Note. It is a legally binding document that sets the terms of your student loans. By signing the Master Promissory Note It becomes a legally binding document that sets the terms of your student loans. By signing the Master Promissory Note you are promising to repay your student loan. This is regardless of whether you graduate or are satisfied with your education. You are promising to repay your student loan regardless of whether you graduate or are satisfied with the education you received.

For the 2011-2012 school year, you can submit your Free Application for Federal Student Aid using FAFSA on the Web from January 1, 2011 until June 30 2012.

The Data Release Number (DRN) appears in the top right corner of the Student Aid Report (SAR). The DRN allows you to contact the Federal Student Aid Information Center to make corrections to your address or your institution list. It also allows you to release your FAFSA data to schools not listed on your FAFSA. The PIN comes in a separate mailer, and allows you to access your Renewal FAFSA on the Web and Corrections on the Web. It also allows you to electronically sign FAFSA on the Web, Renewal FAFSA on the Web, Corrections on the Web, and FAFSA Express applications. While the DRN and the PIN share the same four-digit format, the number schemes are different; therefore they are not interchangeable.

The signature page is a document that can be generated by the FAFSA on the Web, the Renewal FAFSA on the Web, or FAFSA Corrections on the Web. It is personalized by containing your Student ID and address. If you choose not to sign the application electronically, then you (and at least one parent if you are a dependent student) can sign a paper signature page. Once the document is signed, mail it to the U.S. Department of Education address printed on the page to complete your application. By signing this application, you agree, if asked, to provide information that verifies the accuracy of your completed form. This information may include a copy of your U.S. or state income tax form. For FAFSA on the Web, the signature page is for students and/or parent(s). For Renewal FAFSA on the Web and FAFSA Corrections on the Web, the signature page is for parent(s) if parental data is provided.

Each time a FAFSA or a correction to a FAFSA is processed, a transaction number is created. For example, the initial FAFSA is processed, creating Transaction 01. A correction to your Student Aid Report (SAR) is processed, creating Transaction 02. Another correction to your SAR is processed, creating Transaction 03. Each time that a new transaction is created, we will send you a new SAR in the mail. All schools listed on the SAR will also receive an electronic copy of the new SAR. Your transaction number can be located in the upper right hand corner of your Student Aid Report (SAR), beneath your Social Security Number and to the right of your name ID (the first two letters of your last name).

No. Wait for the Student Aid Report (SAR) that contains the results of your first application. FAFSA will mail you this document once we have finished processing your application, usually within two weeks. At that time, if you need to make any corrections to your application, you can use FAFSA Corrections on the Web to update your information. To access FAFSA Corrections on the Web, select the "Entering a FAFSA Online" link from the FAFSA on the Web home page at http://www.fafsa.ed.gov, and select "Make Corrections." Choose the Corrections" option, make the necessary corrections, and submit your changes. You can check the status of your application by calling the Federal Student Aid Information Center at 800/4-FEDAID (800/433-3243)/TTY: 800/730-8913 or 319/337-5665, or by selecting "Entering a FAFSA Online" from the FAFSA on the Web home page, and choosing the "Check My Submitted FAFSA" option.