To be eligible for Federal Financial Aid you need to: 

• Have a high school diploma or a General Education Development (GED) Certificate, or have completed homeschooling. 
• Be a citizen, or an eligible non-citizen of the United States. 
• Be enrolled in a degree-seeking program. 
• Have a valid Social Security Number. 
• Maintain Satisfactory Academic Progress (SAP).
• Not owe a refund on a federal student grant or be in default on a federal student loan. 
• Not have a conviction for the possession or sale of illegal drugs for an offense that occurred while you were receiving federal student aid (such as grants, work-study, or loans). 

To file and electronically sign your FAFSA, you will be asked to create a FSA ID. 

An FSA ID is a username and password combination that is used to log into certain Federal Student Aid websites, including the FAFSA website. A student must have their own FSA ID and password, and their parent (for dependent students) must have their own FSA ID and password. 

Because an FSA ID is linked to a person’s Social Security number, name, and date of birth, it is created only once. If someone forgets their ID and/or password, they may reset it here. 

The FSA ID and password is used to log in to a FAFSA and to electronically sign the FAFSA. A parent can use their FSA ID to sign FAFSAs for all of their children, even if they are attending different colleges. 

If a student or parent needs to create an FSA ID and password, it may be done by visiting the FSA ID website. 

In May of 2015 the FSA ID replaced the 4-digit PIN, which had previously been used since 1998. The use of the FSA ID is more secure and more modern than the PIN.

An FSA ID is a username and password combination that is used to log into certain Federal Student Aid websites, including the FAFSA website. A student must have their own FSA ID and password, and their parent (for dependent students) must have their own FSA ID and password.

If someone previously had a PIN, it must be linked to their FSA ID. This is done to confirm the person’s identity and will allow them to use their FSA ID and password immediately.

If someone did not previously have a PIN, or chooses not to link it to their FSA ID, the Social Security Administration will attempt to match the information entered to confirm their identity. For that reason, it is important that what is entered matches exactly what the Social Security Administration has on file. This process will take one to three days, and the FSA ID and password may only be used after that match has been made.

Because an FSA ID is linked to a person’s Social Security number, name, and date of birth, it is created only once. If someone forgets their ID and/or password, they may reset it here.

The FSA ID and password is used to log in to a FAFSA and to electronically sign the FAFSA. A parent can use their FSA ID to sign FAFSAs for all of their children, even if they are attending different colleges.

If a student or parent needs to create an FSA ID and password, it may be done by visiting the FSA ID website.

SCHOOL CODE: 041795

You must include our school code (041795) on your FAFSA for North American University to receive your FAFSA and determine your eligibility for financial aid.

The FUTURE Act allows the IRS to share data with FSA for increased ease in administering federal student aid programs.

In December 2019, Congress passed the Fostering Undergraduate Talent by Unlocking Resources for Education Act (FUTURE Act), which amends Section 6103 of the Internal Revenue Code (IRC) to allow the Internal Revenue Service (IRS) to disclose certain federal tax information (FTI) to Federal Student Aid (FSA). These data can be shared to improve the administration of the Free Application for Federal Student Aid (FAFSA) form, income-driven repayment (IDR) plans, and the total and permanent disability (TPD discharge) program.

There are multiple considerations when it comes to implementing a FUTURE Act-enabled aid application. For example, the FAFSA form uses multiple pieces of FTI to calculate an Expected Family Contribution, including information from parents if the student is a dependent undergraduate. So the IRS can share this information with FSA, all parties whose FTI is included on a student’s FAFSA form must provide consent annually.

FSA Loan Programs Fact Sheet (studentaid.gov)

Need-based financial aid is awarded based on a student’s financial need. Need-based aid includes scholarships, grants, Federal Work Study, and Direct Subsidized Loans. Financial need is determined by subtracting the student’s Student Aid Index (SAI) from their estimated Cost of Attendance (COA). The difference is the maximum amount of need-based aid a student can be awarded

Estimated COA – SAI = Financial Need 

Students do not need to demonstrate financial need to qualify for non-need based aid which includes TEACH Grant, Direct Unsubsidized Loans, and Direct PLUS Loans. A student’s total need-based and non-need-based aid cannot exceed their COA. 

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