Parent User Guide
Contents
1. Financial Aid for School Tuition Your school has chosen FAST Financial Aid for School Tuition powered by ISM to process your financial aid application FAST is an online program that works in your computers Web browser In order to use FAST you will need Internet access If you do not have a computer public libraries usually have online computers available or you may contact the school and request to use a computer there The Application You reach the application by going to your school s Web site typically on the Admission or Financial Aid page and click ing on the FAST link The link will look similar to these icons Each question in the application has a Help Bubble to explain what is required for that answer A paper worksheet for the application with a list of all the Help Bubbles is available by clicking Downloadable Worksheet located on the gray navigation bar on the opening page Time to Complete When you sign on as a new user you will be asked to create a username and password so that you can log in and out of the program as needed You do not have to complete the application in one sitting It should take you approximately 45 minutes to complete the application once you have gathered your information Preparing to fill out this document takes about as long as preparing to file your taxes In order to complete this form there are a number of financial records you will need The following list includes all2. Do you expect to pay the Alternative Minimum Tax Check One Yes No Further Expenses Explanation Use this space to clarify any of your answers in the Expense section FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 Notes v 2
3. This ensures that the no significance with respect to financial responsibility It only applications from both parents will be appropriately linked indicates who initiated the application There is only one fee for both applications It is up to you After answering a few questions about family structure and to decide who will pay The Application Status page displays custody you will be asked to provide an e mail address for which sections have been completed by each family Payment the other parent who then becomes known as Family 2 If will not be possible until both Family 1 and Family 2 have there is no other parent living or if there is a reason why completed their applications the other parent can t be contacted please explain in the if Family 2 docs not respond to the ininalle mail iris box provided possible for Family 1 to re send the e mail by clicking on If you have been designated Family 2 you will receive a the Account Settings link on the gray Navigation bar and confidential username and password by e mail Family 1 following the instructions does not have access to your username and password Start q y FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 Help is only a phone call or e mail away E mail help ismfast com Phone 1 877 326 FAST Call Center hours are 24 7 365 We would be interested in hearing from you about how we can improve this service Thank you for using FAST pow
4. enter the brand and identifying name of your vehicle Examples would include a Ford Focus or Dodge Neon Year Please enter the year the vehicle was manufactured for sale Estimated Value Please enter the present market value of your vehicle if sold in current condition If you are unsure of the value click the blue link to look it up at Kelley Blue Book There is an online link to take you to Kelley Blue Book Check if leased Check here if vehicle is leased Debt Outstanding Please enter the total amount remaining on original car loan If you lease this car enter a zero Payment Please enter the amount you pay each month for a loan or a lease on this car Home Market Value This section auto fills depending on what you entered in the Family Home Information Section 502 503 504 507 Other Real Estate Market Value This section auto fills depending on what you entered in the Family Home Information Section Vehicle s Market Value This section auto fills depending on what you entered in the Vehicle Information Section Savings Please enter the total amounts of all your savings accounts and money market accounts Use information from statements for the last full month Checking Please enter the total amounts of all your checking accounts Use information from statements for the last full month Certificate of Deposit If you own Certificates of Deposit please indicate the amounts here To get current amou
5. help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 610 610 701 702 Child Support Received Please enter the total amount of Child Support received during the last year Gifts Please enter the total of any cash gifts you have received such as a gift from a grandparent or any other relative All Other Income Please enter the total amount of any income not already listed including money received for part time jobs for which a W 2 is not given income as reported on a 1099 form and or pay for moonlighting jobs Also include earnings received from hobbies court awards disability benefits gambling or social security payments Further Income Explanation Use this space to clarify any of your answers in the Income section Home Mortgage Payment This section auto fills depending on what you entered in the Family Home Information Section Other Mortgage Payments This section auto fills depending on what you entered in the Family Home Information Section 703 704 705 706 707 Vehicle Payments This section auto fills depending on what you entered in the Vehicle Information Section Rent Please enter the yearly amount of rent you pay for your home or apartment If you do not pay rent please place a zero in this space Home Owner Insurance If you own your own home and your home insurance is not paid through your mortgage please enter the amount you pay annually here This number should on
6. primary residence 712 713 714 715 Child Support Paid Please enter the total annual amount of child support payments you are required to make If you are not required to pay any child support please place a zero in this space Alimony Paid Please enter the total amount of alimony you are required to pay annually If you are not required to pay any alimony please place a zero in this space Charity Tithing Please enter the total amount of all monetary charitable and or tithing donations that you made for the prior calendar year to organizations recognized as charities by the IRS If you did not make any charitable contributions please enter zero Federal Taxes If you have already filed your federal income tax please enter your total tax If you have not yet filed your taxes please check the box below this field I have not filed my taxes Check this box if you havent yet filed for your taxes FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 716 717 718 State County City Taxes If you have already filed your state county and or city taxes please enter your total tax If you have not yet filed your taxes please check the box below this field I have not filed my taxes Check this box if you havent yet filed for your taxes Medical Expenses Please enter the total amount of all medical expenses that you paid in the prior calendar year This may include copays pre
7. the financial records that may be needed Select the ones that pertain to you Note You can apply for aid even if you have not completed your tax forms FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 IRS forms Y W 2 Wage and Tax statements Y Most recent Federal 1040 or 10404 V Copies of all supporting tax schedules Y Business Schedule C or C EZ 1040 Y Farm Schedule F Form 1040 Y Rental Property Schedule E Form 1040 Y LLC Schedule E Form 1120S and Schedule K 1 Y S Corporation Schedule E Form 1120S and Schedule K 1 Y Partnership Schedule E Form 1120S and Schedule K 1 Y Trusts Schedule K 1 Household Information V Year end statement from your mortgage holder Y Bank statements Y Brokerage statements Y Insurance costs for home life auto and health Y Utility information Y Medical records and expenses Y Retirement account information Navigating This Program A color coded system of icons will help you move through the various sections A green arrow gt means that the section is open and ready for you to input information A blue check Y means that you have completed that section but it is still available if you need to go back and change any information A gray arrow means that the section is not available at this time You may enter information out of sequence For example you may enter information about your income before you enter information about rea
8. 2 Mortgage Interest Paid annual 303 Gender FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 403 Is your home owners insurance included in your mortgage 404 Original Mortgage Value 406 Year Purchased 407 Purchase Price 408 Present Market Value 409 Have you refinanced What year Refinance amount 410 Principal Remaining 411 Property Tax Paid 412 Is your Property Tax included in your mortgage Vehicle Fill out 450 454 for each vehicle 450 Make Model 451 Year 452 Estimated Value 453 Debt Outstanding FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 454 Payment Monthly Assets 504 Savings 505 Checking 506 Certificates of Deposit 507 Stocks Bonds Securities etc 508 Trusts amp Inheritance 509 Retirement Savings 510 Business Assets 511 Other Assets 512 Further Asset Explanation optional Liabilities 553 Personal Loans 554 Credit Cards 595 Equity Loans 556 Equity Interest Paid 557 Other Liabilities 558 Further Liabilities Explanation optional Income 601 Annual Income 601b Annual Income 602 Business Income 603 Dividend Interest Income 604 Capital Gains Income 605 Real Estate Income 606 Trust Inheritance Income 607 Alimony Income 608 Child Support Received 609 Gi
9. OFAST Ay N Bun ano FAST O y gt Le e x JLo J A mps www iemtast com FasiPage php 10 d10455136badIc305 Q LS ed ua ie a man A E a Financial Aid es Children s Community School Parent User Guide FAST Opening Page user click here You will land on a screen where you can log back into the application using your username and password If you have been designated Family 2 you also begin here Use the username and password given to you in the e mail to log in on the log in screen Letter Agreement Application Status Payment gt Login Logout ur gt instructions Start here einen If divorced ee gt Acceunt Settings you are divorced or Navigation Bar gt Applicant info separated please read Use the navigation bar to Household into as Hoes special instructions first gt if this is not the so you are applying to move back and forth gt Dependent info sei ta guia a co anil click on the PART through the application gt Real Estate Vehicles gt Assets Liabilities income Log in Expenses Once you have created School Questions your application as a new gt gt Paper Worksheet If you want to pre fill out this application download a paper copy complete with Help Bubble information here FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 Welcome to FAST
10. ction Annual Income Please enter your gross wages prior to any deductions as reported on your W 25 for the prior year Your Section 125 deductions will be listed elsewhere Business Income Please enter the total amount of income reported on a 1040 tax form as a result of owning a business If there was no income enter a zero You may not enter a negative number 603 604 607 Dividend Interest Income Please enter the total amount of all income received from dividend and interest bearing accounts as reported on a 1099 tax form This should include interest received from savings accounts money market accounts etc You should also include total amount of bond coupons redeemed during the tax year Capital Gains Income Please enter the total amount of capital gains earned as reported on your federal tax return Real Estate Income Please enter the total amount of all monies received from real estate currently owned Examples include rental properties vacation homes and time shares Trusts Please enter the amount received annually as listed on your K 1 schedule from any trusts for which you or your child are benefi ciaries In the Optional further income explanation at line 610 please describe the trust and tell us who created the trust the intended purpose as well as any restrictions requirements as to use Alimony Income Please enter the total amount of alimony received during the last year FAST Help e mail
11. e information was gone What happened FAST only saves information from completed sections If for example you are working on Income you need to complete the entire section in order for that information to be saved What are the accepted payment methods We accept Visa and MasterCard If you do not have either of these cards you may contact your school to obtain a payment voucher to use in place of a credit card If the filing fee presents a hardship to you please contact your school My screen says Cookies must be enabled What does that mean Cookies refer to information that is stored on your computer by sites on the World Wide Web In order to operate FAST requires that your computer be configured to accept cookies In most instances this will already be done However if you get an error message click on your browsers Help menu and look up information about how to enable cookies Will be spammed Absolutely not Your e mail address will never be shared with anyone but the school to which you are applying FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 What papers will need to send You should be prepared to send your tax returns and your W2s After you submit your payment you will also receive an e mail with a list of documents you will need to send I don t have a computer or an e mail address Now what Most libraries have computers with Internet access available
12. ered by ISM FAST Questions For your convienence we have included a worksheet for you to use when gathering the necessary information that will be asked on the FAST application If you are unsure what is required for a particular field there is a Glossary available at the end of this book Application Information Student Fill out 101 107 for each student 101 Name 102 Birth Date 103 Gender 104 Grade Entering 105 Social Security Number 106 Social Security Income 107 Child Trust Parent Guardian Fill out 201 212 for each parent in the household 201 Name FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 202 Gender 304 Present Grade 203 Birth Date 305 Present School 204 Address 1 306 Is there tuition How much 205 Address 2 307 Do you receive aid or scholarship 206 City 308 Does this dependent live at the same address 207 State ZIP as applicant s 208 Country Dependent Adult Information 209 Phone Home Cell Work Fill out 350 352 for each adult dependent 350 Name 210 Occupation 351 Birth Date 211 Employer 352 Does this dependent live at the same address 212 Disabled as applicant s Dependent Child Information Real Estate Fill out 301 308 for each dependent child Fill out 401 411 for each property 301 Name 401 Mortgage Payment monthly 302 Birth Date 40
13. for use If this is not practical please ask the school if you may use a computer there Before you start the application you will need an e mail address Both Yahoo and Hotmail offer free e mail service You can get to Yahoo at www yahoo com and hotmail at www hotmail com Follow the directions for setting up a new e mail account forgot my password What should I do On the login page click on forgot username or password You will be asked to enter your e mail address You will receive an e mail with your username and password need to explain something about our assets How do do that Line 512 gives you room to write about your assets There are also spaces in Liabilities Line 558 Income line 610 and Expenses line 718 for you to clarify any of your answers Plus there is room in the Letter Agreement section I have a Section 125 Plan and have pre tax money withheld Do I have to include that when I list my W2 income Yes you do On lines 601 and 601b we ask you to list your gross wages before any deductions are taken When is the application due The due date is up to the school so please be sure to ask if no deadline is provided Earlier is always better FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 Glossary 105 106 107 401 402 Social Security Enter Applicants Social Security number here SEVIS Check Box Check this box if this student
14. fts 610 All Other Income FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 611 Further Income Explanation optional Expenses 704 Rent 705 Home Owners Insurance 706 Life Insurance 707 Auto Insurance 708 Health Insurance 709 Electricity 710 Heating 711 All Other Utilities Phone 712 Child Support Paid 713 Alimony Paid 714 Charity Tithing 715 Federal Taxes 716 State County City Taxes 717 Medical Expenses School specific Questions 718 Other Loan Expenses The school to which you are applying may have included some specific questions here Note If you have questions about these school specific questions you will need to contact your 719 Support of Dependents 720 Childcare Expenses school The FAST Call Center will not be able to clarify these 721 Other Expenses questions for you 722 Do you expect to pay the Alternative Minimum Tax Not all schools choose this option so if the school you have chosen does not appear here they simply haven t asked any 723 Further Expenses Explanation optional extra questions E Are income s000 BEE Business Income so E pividendinterestincome 500 BE Capital Gains Income 300 m BE Real Estate Income 3000 EE Trust Inheritance Income O HZ Alimony Income So 7 E Child Suppon Received 550 Bar Gifts o x Letter Agreement In this section
15. he only ones with access to your records Why didn t I receive more financial aid Awards are based not only on need but on the funds your school has available This means that even though you may qualify for more aid a school s financial condition may limit what it can offer What if make a mistake If you make a mistake before you have checked the Accept box at the end and before you have paid the filing fee just go back and make the changes Nothing is final until you have paid If you discover an error after you have paid you can log in to your account where you can request a change This request will go directly to the school where Financial Aid per sonnel have the ability to go into the program and revise your entry Our Call Center does not have access to your file and cannot make a change for you FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 How long will this take to complete Do I have to complete this application at one time Gathering the necessary information to complete this form is similar to gathering information to complete your taxes Once you have collected all your financial information it should take approximately 45 minutes to complete this application You do not have to complete everything at one time You may log out and come back later using your username and pass word filled in most of the page before quit but when went back into the program th
16. l estate holdings even though income comes after real estate on the Navigation bar More information about each question is available three different ways 1 when you click on the red number beside the question 2 when you position your cursor in the answer field and 3 by opening the paper worksheet PDF available on the Navigation bar Printing Please retain a copy of the completed application for your records After you have finished the application you will have FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 an opportunity to open and download or print a PDF of the information you filled out Payment To complete your application make a payment by Visa or MasterCard Your school will tell you how much the filing fee is If payment is a problem for you please contact your school to ask for assistance If you do not have a Visa or MasterCard you may pay the school directly and the school will issue a voucher number to use in place of a credit card number Deadlines Deadlines are established by the school Please pay attention to the deadline given and remember With financial aid earlier is always better Documentation Your school will tell you which documents to send and where but be prepared to send at a minimum copies of your W2s and your federal state and local tax documents Gautions Y Do not use the back button on your browser If you need to return to a previ
17. ly reflect data from your primary residence Life Insurance Please enter the total of the annual premiums you pay for life insurance If you do not have any life insurance please place a zero in this space Auto Insurance Please enter the total of the annual premiums you pay for auto insurance If you do not have auto insurance please place a zero in this space FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 708 709 710 711 Health Insurance Please enter the amount you pay annually for health insurance Please include any supplemental policies in addition to your primary policy If you do not have health insurance please place a zero in this space Electricity Please enter the amount you pay annually for electricity If you do not have this number sometimes your electric company is able to give it to you This number should only reflect data from your primary residence Heating If your heating costs are not included in your electric payments please enter the amount you pay annually to heat your house If your heating costs are included in your electric bill please place a zero in this space This number should only reflect data from your primary residence All Other Utilities Phone Please enter the sum of everything you spend annually for land line or Internet phone service Internet service cell phones water and sewer This number should only reflect data from your
18. nswers in the Asset section Home Principal This section auto fills depending on what you entered in the Family Home Information Section Other Real Estate Principal This section autofills depending on what you entered in the Family Home Information Section Vehicle Debt Outstanding This section auto fills depending on what you entered in the Vehicle Information Section Personal Loans Please enter any secured or unsecured loans you may have received from financial institutions businesses or persons The number should be the actual amount owed to date not the amount borrowed Do not include credit card balances or equity loans in this category Credit Cards Please enter the total amount owed on all credit cards both those issued by banks and those issued by businesses FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 555 556 557 558 601 602 Equity Loans Please enter the total of any money that you have borrowed above the mortgage with your house as security Equity Interest Paid Please enter the total of all interest paid annually on the equity loans listed in 555 above Other Liabilities Please enter the total amount you owe for items such as court judgments delinquent taxes or any other liability that you might have that was not covered in the previous questions Further Liability Explanation Use this space to clarify any of your answers in the Liability se
19. nts call your bank or the issuer of the CD and request totals for the last full quarter or month Stocks Bonds Securities etc Please enter the amounts as of your last quarterly or monthly statement of all stocks bonds or other securities Do not include FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 510 511 any IRA or Keough accounts you may also hold Please do your best to establish the value as of the last full quarter or the last month Trust and Inheritance Please enter the total amount of money held in trust for you and any dependent children who are not applying as students Please also include any inheritance received within the last year Retirement Savings Please enter the total amounts of all K IRA Roth IRA and Keough accounts as of the most recent statements Business Assets If you own a business please indicate your business assets as of your last monthly report If you do not own a business please fill in a zero Other Assets Please enter the total valuation of your tangible assets Do not include your house or automobiles Items that might be included here are valuable pieces of jewelry art work antiques coin collections boats airplanes furs and anything else for which you might reasonably expect to receive a return of 1 000 or more if it was sold 512 551 552 553 554 Further Asset Explanation Use this space to clarify any of your a
20. ous section use the gray Navigation bar on the left Y If you forget your username or password click the for got username or password link on the opening page and follow directions Your password will be sent to the e mail address you gave us Y If your browser closes you will have to log back into the system Any work that you have submitted i e any sec tion that has a blue check by it will be saved If you were in the middle of a section you may have to restart that sec tion and re enter some information Y Answer all questions Do not leave any numeric fields blank If a particular question does not apply to you please enter a zero in that field You may move from field to field using your mouse or the tab key FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 E gt Special procedures for divorced or separated parents If you are divorced or separated each parent needs to file at the school s Web site and click on the FAST link Once you a separate but linked application In order to do this we get to the FAST page as shown on the inside front cover ask that one parent begin the process by clicking on the do not click on the New users link Instead click the Start Application button on the opening page From now Resume Application button and enter the username and on you will be referred to as Family 1 This designation has password on the following screen
21. scriptions physical exams glasses physical or psychological therapy prosthetics etc Do not include any expenses which are covered by insurance In the space provided please explain what you have included in this number Other Loan Expenses Please enter the annual amount of any other loan expenses you incur during the year These may include credit card payments personal loans and bank loans that do not use your home equity as collateral Do not include car payments your mortgage or any other loans against equity in this field In the space provided below please explain what you have included in this number 719 720 721 722 723 Support of Dependents Please enter the annual amount you pay to support any adult dependents in your home In the space provided below please explain what you have included in this number Childcare Expenses Please list your childcare expenses This might include child care after school programs camps lessons special needs etc In the space provided please explain what you have included in this number Other Expenses Please enter the annual amount of any other expenses you incur during the year These might include condo expenses neighbor hood dues club memberships etc In the space provided below please explain what you have included in this number Do not include car payments house payments or credit card payments Do not include expenses for food clothes or transportation
22. was issued a SEVIS identification number and enter that number in the box on line 105 Social Security Income Please enter the total amount this student receives annually in benefits from the Social Security Administration Child Trust If a trust is held in this child s name please enter the amount here and explain in detail below Mortgage Payment Please enter the amount of your monthly mortgage payment here Mortgage Interest Paid Please enter the amount of interest you paid on your mortgage in the last year If this is not available on your mortgage statement please call your mortgage holder to get this amount 403 404 406 407 408 409 410 411 Is your home owners insurance included in your mortgage Check yes or no Original Mortgage Value When you first bought this house how much did you mortgage Year Purchased Please enter the year you originally purchased this house Purchase Price How much did you originally pay for this house Present Market Value What is the present market value of your house Have you refinanced Check Yes or No What year did you refinance your house How much did you refinance Principal Remaining What is the unpaid balance on your mortgage Property Tax Paid Your annual property tax from city county and or state FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 450 451 452 453 454 501 Make Model Please
23. you may write a letter if you feel there are special circumstances that should be considered At the end of this section you will also be asked how much you are able to pay toward your child s education Your application is delivered to the school once the filing fee has been paid FAST Help e mail help ismfast com or 1 877 326 FAST Call Center hours are 24 7 365 Frequently Asked Questions What happens after have completed the application Your information is immediately calculated and the recom mended award is available to the school However awards may not be made until all applications are in and they are often contingent upon the funds available and the number of families requesting aid Your school will notify you directly about its financial aid decision What if I don t understand how should answer a question When you click on a field there is a Help Bubble as seen in Figure A to explain what information is needed for that field A summary of that information is listed in the download able worksheet on the Navigation bar If you still have questions contact our Call Center at 1 877 326 FAST If you are still not sure if you are including the appropriate information write a short note to the school in the spaces provided at the end of each section Who can see my information Authorized personnel at the school to which you are applying and FAST employees who need to handle your application are t
Download Pdf Manuals
Related Search