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Financial Aid

IRS Data Retrieval Tool Offline Until October 2017

To protect sensitive taxpayer data, the IRS Data Retrieval Tool (DRT) on fafsa.gov and StudentLoans.gov will be unavailable until extra security protections can be added. The tool is expected to be back online in late fall 2017, when the next Free Application for Federal Student Aid (FAFSA®) season (2018-2019) begins. The IRS DRT provides tax data that automatically fills in information for part of the FAFSA as well as the income-driven repayment (IDR) plan application for federal student loan borrowers.

The IRS DRT was turned off following concerns that data from the tool could be used by identity thieves to file fraudulent tax returns. Once enhancements are made to encrypt or mask the sensitive data, the IRS DRT will be reactivated.

To fill out a FAFSA, you can manually input your tax information. Remember, if you’re filling out the 2017–2018 FAFSA form, your 2015 tax information is required (not 2016).

IF YOU ARE SELECTED FOR VERIFICATION

Allen will require a copy of your RS Tax Return Transcript in order to complete your file.

Option 1: Call IRS to request Tax Return Transcript to be mailed:
                1-800-908-9946 (allow 7-10 business days to process)

Option 2: IRS Website to Request a Tax Return/Account Transcript:
                https://www.irs.gov/
                Under Tools, click on Get a Tax Transcript
                Click on the blue box in middle of page “Get Transcript by MAIL (transcripts arrive in 5 to 10 calendar days at the address the IRS has on file for you).
                Note: Click on Tax RETURN Transcript for 2015 taxes filed WITHOUT an extension.
                Click on Tax ACCOUNT Transcript for 2015 taxes filed WITH an extension.

How do I apply?

The Free Application for Federal Student Aid (FAFSA) is the only form that a student is required to complete to be considered for student assistance from any of the federal Title IV programs. No additional application or other requests for information can be required by an institution in support of the student's request for Title IV funds. Based on the application, a student may need to submit verification documents.

The priority filing deadline is May 1st for the fall semester and November 1st for the spring semester. You should file by the priority deadline in order to make sure your financial aid is processed and awarded by the beginning of the term. Designate Allen Community College as your school of choice on the FAFSA form by using the school code 001901.

If this is your first time applying for federal aid you will need to create an FSA ID at StudentAid.gov/fsaid in order to do anything with your FAFSA or any other Federal Student Aid websites.FAFSA Button

Students must submit their final official high school transcript or GED scores, and official transcripts from all post-secondary institutions attended to Allen Community College before aid can be awarded. 

Applying for Student Employment
Those interested in employment at the college should complete the Student Employment Application each year employment is desired. The FAFSA will be used to determine if the student is eligible for Federal Work-Study funds. The Office of Financial Aid will provide you a list of job openings and supervisors. You will contact the supervisors to secure a position and complete the necessary employment forms. 

Verification

Verification is the process of checking the accuracy of information submitted by students when they have completed the FAFSA. Financial aid applications selected for verification are not awarded until the verification process has been completed, and corrections, if any, are processed by the Department of Education. Students selected for verification must complete verification documents and provide official tax return confirmation either by use of the Data Retrieval Tool or a tax return transcript. Additional documentation may also be required. Verification forms are available on the Financial Aid Forms page.


If verification documents are not provided at least four weeks prior to the beginning of the semester of attendance, the student should be prepared to pay for classes or sign up for a payment plan. If a student does not submit verification documents the financial aid file will become inactive. Students are allowed to reactivate their file provided all verification documents requested are provided by the last day of the semester attending.

Accepting an Award

To accept a financial aid award, go to myAllen. Log in using your student ID number and password. Select the Finance Tab and then choose Financial Aid Awards to accept or decline the award, or decrease loan amount.

Completing the Loan Process

After accepting a subsidized or unsubsidized Federal Direct Student Loan, go to www.studentloans.gov and log in using your FSA ID.
  • Complete the required Entrance Loan Counseling. The Financial Aid Office will receive notification once this is completed.
  • Complete the mandatory Master Promissory Note (MPN). This promissory note will provide access to your awarded loans without having to be completed each year. Your MPN will be electronically signed using your FSA ID.

Disbursement of Aid

Funds from grants, loans, and scholarships are posted to student accounts once the aid has been accepted and any required loan processes are complete. Allen disburses all funds to student accounts after the fifth week of classes. Refunds of any balance due will be sent to the student by check after funds are disbursed. Awards made after the fifth week of classes are disbursed each week on Friday.


Loans must be disbursed in two installments to remain in compliance with federal regulations. If a student is attending both fall and spring semesters, one disbursement will be in the fall and one in the spring. A student attending only one semester will receive the first disbursement after the fifth week and the second disbursement will occur after one half of the semester has been completed.

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