The Free Application for Student Aid (FAFSA) is used to apply for nearly all types of financial aid including federal, state, and institutional aid. The purpose of the FAFSA is to determine a family's ability to pay for college according to a federal calculation. The result is called the Expected Family Contribution (EFC). This figure is used by Financial Aid Services to determine how much and what types of aid may be awarded.
The U.S. Department of Education provides a yearly comprehensive booklet - Completing the FAFSA.
OU's Federal School Code - 003184
OU Financial Aid Services will normally receive your FAFSA results - the Student Aid Report (SAR) - 3 to 5 working days after completion or corrections are made.
You may have received an email from Federal Student Aid recommending that you use the IRS Data Retrieval Tool to transfer tax information directly from the IRS into your FAFSA. Should the Data Retrieval Tool be unavailable for any reason, you can manually enter your tax information into your FAFSA.