FACTS Grant & Aid Assessment
The realm of financial aid can be difficult and confusing to navigate. Many schools offer financial aid and grants directly, and an independent third party company such as FACTS Grant Aid & Assessment can provide families with services to help streamline this process for a fee. A Nelnet company since 2005, FACTS offers financial aid services for students, parents and schools, serving over 1 million families at more than 6,600 private and faith-based Kindergarten through 12th grade schools.
About the FACTS Grant & Aid Assessment Program
FACTS Grant & Aid Assessment, a subsidiary of FACTS, conducts an independent financial evaluation on a case-by-case basis and then provides your school with a confidential report based on your financial standings. FACTS Grant & Aid Assessment then recommends to the school the amount of aid they should offer using a customized allocation formula designed with your school’s input. The school uses this recommendation to determine how much money to award in grants or financial aid. Ultimately, the individual school decides the amount awarded.
A grant is free money that does not have to be paid back, while financial aid is often in the form of a loan that you will have to pay back. There are no restrictions or income guidelines in order to apply for a FACTS Grant & Aid Assessment so everyone is encouraged to apply.
How to Apply
The application process is easy and can be accomplished either with a paper application or online, where you can monitor your progress as you go. The online application even offers a checklist to ensure your application is complete before submission. Only one application will be considered per household.
You can apply for financial aid from more than one school with only one application and fee. If you need the information in Spanish, the FACTS system can be translated with a simple click of a button. Live chat and phone support are available to help you 24 hours a day, seven days a week if you need assistance. You will need the following information to get started with your application:
- Copies of your most recent income tax return
- All of both your and your co-applicant’s (if necessary) most current W-2 Wage and tax statements
- Any documentation for non-taxable income in the household such as welfare, social security, Temporary Assistance for Needy Families (TANF), workers’ compensation, or food stamps
- Information on all children in the household
- School name(s)
- Social Security number
- Name and current address
- Intention to file for state or federally funded aid
- Non-refundable $30 fee
- Signature (paper copy only)
Schools may also add school-specific questions to the application and may require additional information not listed here that may include church membership and religious affiliation. Check with your school to determine what, if anything, else you may need to complete your application.
Be sure to send copies of your documents as nothing will be returned to you directly. The school will receive the assessment of your application. Once you have applied online, you will create a username and password that you can then use to login and check the status of your application on the FACTS Grant & Aid Assessment website. FACTS is now also mobile-friendly for quick and easy access.
Applications generally take two to four weeks to process. Individual schools set financial aid deadlines, so be sure to check with your school so that you apply in time and don’t miss yours. Once your application has processed and your school has determined the amount of financial aid to be awarded, an individual award letter will be emailed to the email address you provided.
- FAFSA Home
- Demystifying the FAFSA
- Exit Counseling
- Filling It Out
- How the FAFSA Challenged Us to Find Alternative Funding
- Independent or Dependent Student Status?
- Making Corrections
- Revising: A Primer for Parents
- The Calculations Behind the Application
- To-Do Lists, Anxiety, and Preparing for College
- What Happens Next?
- Why Submit the FAFSA