Federal Financial Aid
The FAFSA (Free Application for Federal Student Aid) is now available for the 2018-2019 academic year along with the IRS Data Retrieval Tool (DRT). Information that is retrieved in will not provide dollar amounts as it did in prior years but will state that it was “Transferred from the IRS”. Please be aware that line items required to be transferred in by the DRT will state as such even if a zero dollar amount was brought into the line on your FAFSA. Students and parents will still need to have their 2016 federal income tax returns and W-2s available to help complete the FAFSA.
Due to a technical issue, the IRS Data Retrieval Tool is unavailable if you are still filing a 2017-2018 FAFSA. Students can still fill out their FAFSA by using the information directly from their 2015 tax return. For this year only, students who have been selected for verification can provide a signed and dated copy of their 2015 federal tax return or request an IRS Tax Return Transcript by following the steps below:
- Go to https://www.irs.gov/
- Click “Get Your Tax Record”
- Choose “Get Transcript by Mail” or “Get Transcript Online.”
-Make sure to request the “IRS Tax Return Transcript” and NOT the “IRS Tax Account Transcript”
-Choose the appropriate tax year based on the FAFSA that you are filing
Please call the Nicolet College Financial Aid Office at 715-365-4423 with questions.
School Code: 008919
The Financial Aid office provides information and assists students seeking financial aid. Although the major responsibility for financing a college education resides with the student, Nicolet College is able to assist students in meeting their educational expenses. Assistance may be in the form of grants, scholarships, loans, employment, or a combination of these. Many of the financial aid programs are based upon financial need and student enrollment, determined at Date of Record (DOR), which is 14 calendar days after the beginning of the term. No changes to awards will be made for additional credits added after the DOR. However, for “Nicolet My Way” programs (which are Credit-Based Competency-Based Educational offerings), an additional DOR will occur half way through the term to reevaluate the competencies the student is enrolled in.
Financial need is the difference between: the student's established educational cost of attendance (includes tuition and fees, books and supplies, room and board, transportation and personal expenses), and resources the student and/or family should have available to meet those costs (expected family contribution as determined per your FAFSA filing).
- Grants are financial aid that does not have to be paid back. (Please see Return of Title IV Funds Policy for exceptions.)
- Federal work study enables students to work and earn a paycheck to help pay for school.
- Loans are borrowed money which must be repaid with interest.
- Scholarships are similar to grants in that there is no obligation to repay them. Scholarships can be based on academic achievement, service, and/or need.
Students can apply for federal aid by completing and submitting the Free Application for Federal Student Aid (FAFSA) online. By completing the FAFSA, you are applying for all types of aid which include: federal and state grants, student loans and work study.
Students need to apply each academic year.
Effective October 1st, students can apply for the next academic year. Students will need to complete the FAFSA using a prior year tax returns, so there is no more waiting for your current year taxes to be completed before filling out your FAFSA. For the 2018–2019 FAFSA, students (and parents or spouses, as appropriate) will report their 2016 income information, rather than their 2017 income information. If you are still applying for 2017-2018, you will use the 2015 federal tax information.
The Financial Aid Process
1. Get organized. To complete the FAFSA you will need information from your prior year federal tax return. Gather your income information from the prior year. This includes federal tax returns 1040, 1040A, or 1040EZ; W-2s from each job worked; unemployment, child support (received and paid), etc. If you are a dependent student, (under the age of 24, single, no dependents, not a veteran) you will also need your parents’ federal tax returns, income and asset information.
2. Apply for a Federal Student Aid ID (FSA ID). An FSA ID is necessary to sign the FAFSA. For dependent students, a parent will also need to create an FSA ID. FSA IDs should not be shared and should be kept in a secure place as it will be used throughout the student’s entire education and beyond. Get started at https://FSAID.ed.gov (https://fsaid.ed.gov/npas/index.htm) or while filing the FAFSA. The FSA ID replaced the previous FSA PIN.
3. Go to www.fafsa.gov and click on Start a New FAFSA. An FSA ID is required. If you filled out a FAFSA for the previous year and select “Renewal,” some information will already be completed. This feature can save time but students must correct answers for any questions where the information has changed. Complete every question. Use zeros instead of leaving a question blank. When available use the IRS Data Retrieval Tool (DRT) for ease of filing. A "Help and Hints" box displays information for each question to help complete the questions. Nicolet’s school code (008919) must be entered on the application. Remember to choose “Save” on each screen as the FAFSA is completed, and again when it is fully completed. We suggest that you keep a copy of the FAFSA application for your records.
4. Electronically sign the FAFSA application with your FSA ID. Parents will also need to sign and submit if the student is considered dependent. Submit the application by selecting “SUBMIT My FAFSA Now.” You should then see a page confirming that your application has been received. Print or save the confirmation for your records.
5. Review your Student Aid Report (SAR).You’ll receive the SAR electronically to the e-mail address you provided when you completed the FAFSA. Review the SAR carefully and verify that the information is correct. If you see incorrect information, make corrections on your FAFSA by returning to https://fafsa.ed.gov/. Keep the SAR for your records. A corrected SAR will be issued when changes are made. The Nicolet College Financial Aid Office will receive your SAR information electronically from the U.S. Department of Education.
Financial Aid Qualifications
In order to receive financial aid, you must meet the following requirements:
- Apply and be accepted into a program that qualifies for financial aid.
- File the FAFSA for the appropriate school year. The FAFSA is available after October 1 of each year. This covers fall, spring, and summer terms for that academic year.
- Enroll in classes that are required for your program.
- Enroll in at least six credits to qualify for federal direct loans.
- Be a US Citizen, a National or permanent resident of the United States.
- Not be in default on any educational loan and/or owe any repayment of funds to Nicolet College or any previously attended educational institution.
- Be in compliance with Selective Service.
- Maintain satisfactory academic progress as defined by Nicolet College's Financial Aid Satisfactory Academic Progress Policy.