When submitting the FAFSA or Free Application for Federal Student Aid to apply for financial aid at colleges and universities all over the United States, parents and students have needed a PIN number as their electronic signature. Recently, Federal Student Aid has changed the PIN to an FSA ID, which will serve as an electronic signature for the:
- My Federal Student Aid to monitor all Federal Student Aid received,
- StudentLoans.gov to complete entrance counseling for all Federal Stafford Student Loans and Parent PLUS Loans, and
- The TEACH Grant Program, allowing future teachers to reduce their Federal Stafford Student Loans up to $4000 per year when agreeing to teach for at least four years
For a parent or student with a PIN number, use the FSA ID website to replace an existing PIN with a FSA ID number. Just like the PIN, a parent’s FSA ID number can be used to electronically sign more than one child’s FAFSA.
For others without a PIN, the same website can establish a FSA ID.
Just a reminder: all families should submit the FAFSA each year a student is enrolled in college, regardless of family income and asset values. The only way to be considered for any financial aid is to complete the annual FAFSA.