All graduating seniors must either complete the FAFSA® (Free Application for Federal Student Aid) or formally opt-out. Follow the steps below to opt out or to complete the FAFSA® once it opens. Please note that opting out now will not penalize you if you apply for FAFSA® later.
Updated: September 26, 2024
1. Students MUST have a Social Security Number to complete the FAFSA®.
Students without a Social Security Number (SSN) should complete the opt-out E-collect Form for Oklahoma graduation. They can then apply for an SSN and complete the FAFSA® once received, if desired.
2. Determine if the student is an independent or dependent student.
Check this list to help determine their dependency status.
3. Create a StudentAid.gov account for both the student and the contributor.
Creating this allows each person to complete the FAFSA® and receive/manage federal financial aid.
4. Identify contributors.
Section 2 of the resource below will help students identify their contributors. For each contributor, you’ll need their first and last name, SSN (if applicable), date of birth and email address.
5. Gather Federal Income Tax Returns.
The FAFSA® will request consent to transfer federal tax information from the IRS. Students and contributors should gather 2023 federal tax returns when completing the FAFSA®
6. Gather Untaxed Income Records.
Students and contributors may need to answer FAFSA® questions about untaxed income, like child support and interest income.
7. Gather Asset Records.
The FAFSA® will ask about assets. Be sure to have records of savings, checking and investment values (like stocks, bonds, and non-primary real estate). Report current amounts as of the FAFSA® signing date, not 2023 tax year amounts.
1. Login to Powerschool.
2. Go to Forms.
3. Select the “FAFSA® Opt-Out Form”
4. Complete the form and click
“Submit.”
Once you have submitted the form you have successfully met the new state graduation requirement.
Help Topics
FAFSA® Walkthrough