John Chrystal Center

 

Email: 
finaid@grinnell.edu
Phone: 
641-269-3250
Mailing Address: 
1103 Park St, Grinnell, IA 50112

Net Price Calculator  

Prospective students may use Grinnell's Net Price Calculator to view an estimate of how much and what kind of need-based financial aid they might receive at Grinnell College.  It is meant for use by prospective students who are U.S. citizens or permanent residents.  2012-13 cost and aid data is used.  Actual awards will be based on 2013-14 estimated costs and awarding guidelines.

 

How to Apply for Financial Aid

 

Having Problems with the FAFSA/IRS Data Retrieval?

If so, you are not alone. Click here for additional information.

 

File Your 2012 Federal Tax Return Early!  Really!

Financial aid offices can no longer accept signed copies of federal tax returns from students and parents for FAFSA Verification purposes. (Amended tax returns and foreign tax returns can still be accepted.) All need-based aid recipients will have two options to provide tax return documentation:

Option 1 (preferred). Use the IRS Data Retrieval Process when completing the FAFSA online. FAFSA provides instructions to link to the IRS while completing the FAFSA. Certain data elements such as AGI and taxes paid will be populated for you on the FAFSA. Because this data comes directly from the tax return you filed with the IRS, the data is considered "verified" for FAFSA purposes. Keep in mind:

  • The Federal Tax Return must be filed at least two weeks (if filing electronically) prior to using the FAFSA IRS Data Retrieval Process to allow the IRS time to process the return. Paper tax return filing will require a wait time of up to six weeks.
  • Schools will still collect additional documentation to verify data not provided by the FAFSA IRS Data Retrieval Process such as copies of W-2 forms, Schedules C and SE if self-employed, and an institutional verification form for such items as household size, number in college, and untaxed income.
  • Certain tax filers may not be able to use the IRS Data Retrieval and will need to request an IRS Tax Transcript (see #2 below).
  • The IRS Data Retrieval Process does not have to be used on the initial FAFSA filing if your tax returns have not been processed by the IRS. You may submit a correction to the FAFSA and use the Retrieval Process at that time.

Option 2. Request a Federal Tax Return Transcript from the IRS by phone, fax or by using Form 4506T-EZ.

  • An official tax transcript will be required for tax filers not able to use the IRS Data Retrieval Process (i.e. recently widowed, separated, or divorced parent that was required to file a joint return).
  • When you receive the tax transcript from the IRS, submit it to the Financial Aid Office.
  • Schools will collect additional documentation to verify data not provided by the FAFSA IRS Data Retrieval Process such as copies of W-2 forms, Schedules C and SE if self-employed, and an institutional verification form for such items as household size, number in college, and untaxed income.

Detailed instructions will be mailed to the home address of all currently enrolled need-based aid recipients in January (excluding graduating seniors).

Copies of foreign tax returns will still be accepted.

Admitted students for the Fall of 2013 will receive instructions with their preliminary award letter by April 1, 2013.

Lessons Learned:

  • The IRS first processes tax returns indicating that a refund is due.
  • Tax returns with tax due may not be processed by the IRS until May 1 or later.  (They will still cash your check as soon as they receive it though.)
  • Filing your tax returns electronically is recommended when possible.
  • The FAFSA/IRS Data Retrieval is the best option, if it works for you, versus a tax transcript.
  • Keep a paper copy of your return.
  • If filing an amended return (1040X), please contact the Office of Student Financial Aid for instructions on what forms to submit.

The Office of Student Financial Aid appreciates your patience as we implement this new requirement of the U.S. Department of Education. Please contact us with any questions or concerns.

To Fax or Not to Fax? Not - Please!

Due to poor resolution with some fax machines, we request that you do not fax any forms or documents unless instructed to by a financial aid staff member. All of our deadlines are postmark deadlines, and it is almost never a necessity to fax a form to meet a deadline. Should you need additional time to meet a deadline, please contact the office.

Current Students:

Notification of Changes to your Award

All notices of a revision to your financial aid award will be sent to your Grinnell email account. Your award may be viewed at any time via Pioneerweb.

Log into Pioneerweb
Click on the Services tab
Click on "My Financial Aid Award Letter"

Guidance on Qualifying for the Summer Savings Expectation Exemption

Grinnell College seeks to encourage students' experiential and educational opportunities by exempting qualified students receiving need-based financial aid from one summer's earnings contribution for the following educational experiences.

  • Grinnell College sponsored summer internships that are tracked through the Career Development Office and successfully completed. Many internships receive Grinnell College funding through one of the following programs; GRINNELLINK, Grant program or Endowed Internships.  Please note: your summer internship can only be tracked through the CDO if you are enrolled the spring semester prior to that summer and the following fall semester.
  • Summer research of at least (8) weeks at Grinnell College.

Lists of eligible students will be submitted to the Office of Student Financial Aid by the offices of Career Development and the Registrar. All paperwork and deadlines specific to the internship or research is the responsibility of the student. Students do not need to complete any additional paperwork for consideration of the exemption.

 

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