FAFSA Priority Deadline

FAFSA Priority Deadline for 2021-2022

Any student who would like to be considered for federal financial aid must submit a Free Application for Federal Student Aid (FAFSA).

The priority deadline for continuing students to submit the FAFSA for the 2021-2022 academic year was February 1, 2021.  If you missed this date, don’t fret!  You can still submit your FAFSA and you will still be considered for financial aid.

Be sure to submit the 2021-2022 FAFSA, which uses your family’s 2019 tax returns.  To simplify the process, it is recommended you use the IRS data retrieval tool to import your 2019 tax information.  Learn more and complete your FAFSA now at https://studentaid.gov/.

Even though financial aid awards will not be officially sent until the Summer, it is important you submit your FAFSA as soon as possible to be considered for the maximum amount of the available funds as some funds are limited (e.g., SEOG for undergraduate students).

It’s also important you submit your FAFSA sooner than later in case you are asked to submit additional forms, tax documents, etc. to confirm your financial aid eligibility.  The longer you wait to submit your FAFSA, the longer it will take to request documents, the longer it will take to develop your award package.

Don’t delay … submit today!

• I already submitted my new FAFSA for the 2021-2022. Why am I receiving this communication?

  That’s great!  This message was sent to all continuing students.  We still encourage you to review the rest of the information in this communication as it can be helpful as you plan your financial future.

• What happens if I missed the FAFSA priority submission deadline of February 1, 2021?

  You can still submit your FAFSA and you will be considered for financial aid, but it’s important you do this as soon as possible to be considered for all available funds.  Some funds are limited and awarded on a first-come, first-served basis so act quickly!

• When will I receive my 2021-2022 financial aid awards?

  Financial aid awards will be released sometime in the summer.  You will receive an award letter via e-mail once your aid package is released.

• How will I know UM received my 2021-2022 FAFSA?

  New FAFSAs are starting to be loaded into CaneLink for the 2021-2022 academic year.  You can check to see if your FAFSA is marked as “Received” in your “Documents and Messages.”  Click here to see how to view this information, and be sure to change the year to 2021-2022 in the upper-right drop-down menu.  It can take up to 15 business days for your FAFSA to load once you successfully complete it at https://studentaid.gov/.

• What do I do if I do not see my new FAFSA marked as “Received” in CaneLink?

  The first thing you should do is check to be sure you submitted the 2021-2022 FAFSA at https://studentaid.gov/, not the 2020-2021 FAFSA.  Next, review your FAFSA to make sure you used the correct school code:

  • Undergraduate = 001536
  • Graduate (includes Nursing and non-MD Medical graduate programs) = 001536
  • Medical (only for MD students) = E00533
  • Law = E00532

  Wait 15 business days after you successfully submitted your 2021-2022 FAFSA with the correct school code and it should load into CaneLink within that time.

• What does it mean if I am selected for verification after applying for FAFSA?

  You will receive a Student Aid Report (SAR) from the government within a month of when you complete the FAFSA.  The SAR is essentially a summary of the information you listed on your FAFSA application, but it may not display information you uploaded from the IRS data retrieval tool.

  Your SAR will specify if you were selected for federal verification and, if you are, the University may request that you submit additional forms, tax documents, etc. to confirm your financial aid eligibility.  Verification does not suggest you did anything wrong; this is a normal, often random process by which the University is required to confirm the information you presented on your FAFSA application.

  If you see on your SAR that you have been selected for verification, prepare now for any document requests by gathering all hard copies of your 2019 tax documents and keep an eye out for further communication by the University, and monitor your “Documents and Messages” in the “View Financial Aid” portion of CaneLink for the 2021-2022 academic year.  This will ensure timely compliance with any requests.

• Will my Student Aid Report (SAR) tell me how much aid I will receive?

  No, your SAR does not provide you with award amounts.  The SAR provides Expected Family Contribution (EFC), which is used by the University to determine your aid eligibility.  Your awards will be determined later and communicated to you later via an e-mailed award letter.

• Why am I asked to submit additional documents?

  Even if you are not selected for verification, you may be asked to submit additional documents to determine your full aid eligibility.  It is important you submit all requested documents in a timely fashion and via the means specified in your “Documents and Messages” under your CaneLink “View Financial Aid” section to ensure timely review and the successful completion of your financial aid package.

• UNDERGRADUATE STUDENTS ONLY: Since the FAFSA considers my family’s income from 2019, what if my financial aid award for 2021-2022 does not reflect the significant decrease in income my family experienced between 2019 and 2020?

  You must wait for your 2021-2022 financial aid award letter to be released so you can fully-understand your financial aid package.  If at that point you have any questions or concerns, contact ’Canes Central via any of the means listed at www.canescentral.miami.edu/contact/ to discuss your options.

• UNDERGRADUATE STUDENTS ONLY: Do I need to submit a CSS Profile when I submit my FAFSA?

  Continuing students who previously completed a CSS Profile do not need to submit a new Profile for 2021-2022; however, continuing students who are applying for financial aid for the first time must complete the CSS Profile when they submit their FAFSA.

The University’s Money Management Program created the Money Talks series, virtual financial literacy sessions that aim to enhance your ability to start making educated financial choices for your future.  Check out the Spring 2021 schedule and RSVP to start learning about investing, credit, loan forgiveness, and so much more!

All students must meet specific criteria to continue to receive their various financial aid awards.  These criteria, called Satisfactory Academic Progress (SAP), include combinations of your GPA, credits earned, etc., and may either be reviewed at the end of the semester or the end of the year, depending on the type of award.

As we approach the middle of the Spring 2021 semester, it’s important you review and understand what is required for you to continue meeting SAP requirements for each type of aid you receive.  Work closely with your academic advisors and/or faculty to plan for the future, discuss your enrollment options, and seek tutoring or other resources as needed.  Click here to learn more about SAP.