Office of Student Financial Aid

How to Apply for Financial Aid

University of Toledo’s Student Financial Aid Office awarded more than $278 million in financial aid to more than 18,000 students in 2014-2015. The financial aid staff is committed to providing high-quality service to all students and attempts to explore all possible financial aid resources with students.

Applying for financial aid is a simple process:

  1. Apply for admission to University of Toledo.
  2. Submit the Free Application for Federal Student Aid (FAFSA) and list The University of Toledo as a recipient of your FAFSA information. The Federal School Code for The University of Toledo is 003131.

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2014-15 Free Application for Federal Student Aid (FAFSA)

Students, spouses and parents will be expected to load 2015 Federal Tax Information directly from the IRS onto your FAFSA. This process is easy, fast and an accurate method to provide tax information for the FAFSA. The retrieval process will display your tax information and allow you to transfer it to your FAFSA.

  • The FAFSA on the web provides instructions to link to the IRS while completing the FAFSA. This tax data, if unchanged, will be considered “verified” for FAFSA purposes.

The Federal Department of Education strongly encourages the use of the IRS Data Retrieval Tool when filing your FAFSA or to return to the FAFSA and update the retrieval flag once your taxes have been filed.

If you filed federal taxes and either choose not to transfer or are not able to transfer your federal tax information onto your FAFSA, using the IRS Data Retrieval process, you may be required to submit an IRS Tax Return Transcript from the IRS.  

Timing for Tax Filing and the IRS Retrieval Process

  • The Federal Tax Return must be filed at least two weeks (if filing electronically) and 6 -8 weeks (if filing paper return) before using the FAFSA IRS Data Retrieval Process to allow the IRS time to process the return.

Who is Eligible to use the IRS Tax Retrieval?

  • The following tax filers will not be able to use the IRS Data Retrieval and will need to request an IRS Tax Transcript  if selected for verification (you will be notified):
  • Your marital status changed after your taxes were filed.
  • You filed married filing separately.
  • You filed an amended or foreign tax return.

Standard Verification Documents (if selected for verification)

  • Verification Worksheet to audit data not provided by the FAFSA- IRS Data Retrieval, verification of child support paid and Food Stamp Benefits.
  • An official Tax Return Transcript will be required for tax filers not able or willing to use the IRS Data Retrieval process or who change tax data after using this process.

 

Last Updated: 6/26/15