• Skip to primary navigation
  • Skip to main content
An official website of the State of North Dakota
Photo of the BND Logo in full color

Bank of North Dakota

Photo of the BND Logo in full color
  • Home
  • About BND
    • The BND Story
    • Leadership
    • Mission, Vision, Core Values
    • BND Operations
    • BND Open Meetings
    • Job Opportunities
    • News
    • Contact Us
  • Education Funding
    • Be Confident with Your Decisions
          • Be Confident with Your Decisions


          • Smart with My Money
          • FAFSA Facts
          • College Cost Guide
          • Student Loan Application Steps
          • Cosigning Student Loans
          • Salary-to-Debt Calculator
          • Earn College Credits During High School
          • North Dakota Dollars for Scholars
          • Scholarships and Grants
          • College SAVE 529
          • Educational Materials
    • Apply for a Student Loan
          • Apply for Student Loan


          • Apply for a DEAL Student Loan
          • Access Your In-progress Loan Application
          • DEAL Student Loan
          • Career Education & Alternative Learning (CEAL) Loan
          • Addiction Counselor Internship Loan (ACIL)
          • Information for Cosigners
          • Information for Financial Aid Offices
          • DEAL Student Loan Calculator
          • Salary-to-Debt Calculator
    • Refinance a Student Loan After College
          • Refinance a Student Loan After College


          • Apply to Refinance Your Loan
          • DEAL One Loan
          • DEAL One Student Loan Calculator
          • Information for Cosigners
    • Repay Your Student Loan
          • Repay Your Student Loan


          • Log in to Your Account
          • Manage Your Student Loan Online
          • Information for Cosigners
          • How to Make a Payment
          • Repayment Plans
          • Difficulty Making Payments
          • Career-based Loan Repayment Options
          • Understand Your Statement
          • Frequently Asked Questions (FAQ)
          • Repayment Calculator
    • College SAVE
  • Loans
    • Ag Loans
          • Ag Loans


          • 2025 Grain Storage & Facility Rebuilder Programs
          • Ag Commodity Export Enhancement Program
          • Agriculture Diversification and Development Fund
          • Ag PACE
          • Beginning Farmer Chattel Loan
          • Beginning Farmer Real Estate Loan
          • Biofuels PACE Program
          • Envest
          • Established Farmer Real Estate Loan
          • Family Farm Loan Program
          • Farm and Ranch Bank Participation Loan Program
          • Farm Operating Loan Program
          • Farm Real Estate Loan Guarantee Program
          • First Time Farmer Finance Program
          • FSA Guaranteed Loan Purchase Program
          • Ag Lending Calculator
    • Business Loans
          • Business Loans


          • Accelerated Growth Loan Program
          • Bank Participation Loan Program
          • Bank Stock Loan
          • Beginning Entrepreneur Loan Guarantee
          • Bulk Propane Storage Tank Revolving Loan Fund
          • Business Development Loan Program
          • Clean Sustainable Energy Authority Loan Fund (CSEA)
          • Export Enhancement Program
          • Flex PACE for Affordable Housing
          • Flex PACE Program
          • Legacy Investment for Technology Loan Fund (LIFT)
          • Match Program
          • PACE Program
          • SBA Guaranteed Loan Purchase Program
          • USDA Guaranteed Loan Purchase Program
          • Value-added Guarantee Loan
          • Venture Capital Fund
    • Infrastructure Loans
          • Infrastructure Loans


          • BND Infrastructure Revolving Loan Fund
          • Critical Financial Need Program for Political Subdivisions
          • Health Information Technology Fund
          • Legacy Infrastructure Loan Fund
          • Medical Infrastructure Loan Fund
          • School Construction Assistance Revolving Loan Fund
          • Water Infrastructure Revolving Loan Fund
    • Education Funding
          • Education Funding


          • Be Confident with Your Decisions
          • Apply for a Student Loan
          • Refinance a Student Loan After College
          • Repay Your Student Loan
  • Bank Services
    • Financial Institutions
          • Financial Institutions


          • Automated Clearing House (ACH)
          • BND Direct Cash Management
          • Bond Accounting
          • Coin & Currency
          • Collateral Valuation Services
          • Deposit Accounts
          • Executive Analytics
          • Fed Activity Settlement
          • Federal Funds
          • Federal Funds Sweep
          • Government Security Purchases
          • Item Processing
          • Letter of Credit Pledge for Public Deposits
          • Loan Payments
          • Pledging Services
          • Repurchase Agreements
          • Safekeeping
          • Stress Testing Model
          • Wire Transfers
    • Government
          • Government


          • Automated Clearing House (ACH)
          • BND Direct/Cash Management
          • Bond Registrar
          • Certificates of Deposit
          • Checking and Savings Accounts
          • Disputed Royalty Payments
          • Escrow Agent
          • Government Security Purchases
          • Merchant Services
          • Oil and Gas Cash Bond
          • Paying Agent
          • Positive Pay
          • Remote Deposit Capture
          • Safekeeping
          • Trustee
          • Wire Transfers
    • Public
          • Public


          • ABLE Plan
          • Certificate of Deposit
          • Checking and Savings Accounts
          • Online and Mobile Banking
          • Electronic Funds Transfer Disclosure
          • Foreign Currency
          • Loan Payments
          • Wire Transfers
  • Account Login
        • Account Login and New User

          Access your Bank of North Dakota (BND) online account anytime, anywhere. If you are a New User, choose your account and follow the steps to open your online account.

          Agriculture
          Loans
          Business
          Loans
          Home
          Loans
          Student
          Loans
          Checking/
          Savings
        • Business, Government, and Financial Institutions Login

          Businesses, Government agencies and Financial Institutions access your BND online account anytime, anywhere.

          BND
          Direct
          Secure
          Transfer
          Investment
          Portal
          Infrastructure
          Loan
  • Show Search
Hide Search

A Parent’s Guide to Completing the FAFSA

mom-son-sofa-computer
Home » News » A Parent’s Guide to Completing the FAFSA

September 4, 2019 Uncategorized

Known by many as “the FAFSA,” the Free Application for Federal Student Aid is a form completed annually by students planning to attend college for both undergraduate and graduate courses. Colleges use the FAFSA information to determine the student’s eligibility for student financial aid. Student financial aid could include grants, scholarships, work-study programs and student loans. Completing the FAFSA is the first step in the financial aid process. Because it’s free to complete, never pay to submit this form.

Helping parents figure out the FAFSA

If you have a child entering college in the fall of 2019, he or she can submit the FAFSA as early as October 1, 2019. A complete set of short videos describes most aspects of the FAFSA that raise the most questions are available on this website. The topics include dependent vs. independent status, reporting divorced and separated families, determining assets and family size.

You need these documents to complete the FAFSA:

  • Student’s Social Security number and date of birth
  • 2018 federal tax return of the parent and if applicable, the student
  • 2018 untaxed income records which include Veteran’s non-education benefit records, child support received and worker’s compensation
  • Assets which include the balance of cash, savings and investments
  • Alien registration or permanent resident card if not a U.S. citizen

What if you have not filed your 2018 federal tax return?

If the 2018 tax return has been filed, use those numbers. However, you can complete the FAFSA with estimated tax information and submit it before you’ve filed your return. If your tax information is similar to the 2017 tax income, you could use this information. If it is not similar, there is an Income Estimator worksheet available when completing the FAFSA that can help you estimate your income.

As soon as you file your 2018 taxes, you’ll need to update the FAFSA with accurate information because financial awards cannot be determined until the 2017 numbers are received. Even if a parent does not claim the student as a dependent, the parent’s tax information is required if the student is considered a dependent for financial aid purposes.

Listing assets on the FAFSA

On the FAFSA, you will need to report the current value of certain assets such as cash, savings, checking, CDs, stocks and bonds. You do not need to include the home you live in, life insurance, retirement plans, value of the family farm you live on and operate or the value of a small business with 100 or fewer employees.

Entering tax information on the FAFSA

After you file your federal tax return, you need to enter in your tax information on the FAFSA form you are completing at studentaid.gov.

  1. After starting your FAFSA, click the finances section of the FAFSA.
  2. Enter in your tax information.
  3. Review your federal tax return information.

When should you complete the FAFSA?

If the student will attend school between July 1, 2020 and June 30, 2021, you can submit a FAFSA as early as October 1, 2019. File as soon as possible because some financial aid is awarded on a first-come, first-serve basis.

Should you complete the FAFSA?

Many people mistakenly believe they won’t qualify for financial aid because they make too much money or have too many assets. Almost every student qualifies for an unsubsidized Federal Direct Student Loan so it is important to complete the FAFSA.

Even if a student loan isn’t necessary, it is a smart move to complete the FAFSA to determine if the student qualifies for grants and other scholarships.

How will you learn about your child’s financial aid package?

After completing the FAFSA, all of the colleges the student listed on the FAFSA will respond to the student with a financial award letter that breaks down the cost of attending that school. The letter will highlight any federal grants, scholarships or loans the student is eligible to receive along with state aid. The amounts on these letters will be different because tuition, books, fees and housing expenses vary between schools. Up to 10 schools can be listed on the FAFSA application.

Student loans

If student loans are needed, Bank of North Dakota (BND) encourages the student to take out a Federal Direct Student Loan as the first option. Then, if there is still a gap consider North Dakota’s state-sponsored DEAL Student Loan offered by BND. The DEAL Student Loan is available at low interest rates with no fee to all qualified North Dakota borrowers whether attending a North Dakota or out-of-state school. Qualified out-of-state residents attending college in North Dakota receive the same benefits as North Dakota residents.

More questions about financial aid and college?

Bank of North Dakota’s College Handbook answers many questions people have about preparing and paying for college. If you still need answers, you are welcome to contact us. We can answer your questions by phone or email.

Categories: Uncategorized
Tags: FAFSA, Planning for college

Footer

Photo of the BND Logo in white

Bank of North Dakota

PO Box 5509
1200 Memorial Hwy
Bismarck, ND 58506-5509
E:Email BND: bnd@nd.gov
TF:Toll-Free Phone Number: (800) 472-2166 P:Local Phone Number: (701) 328-5600 TTY:TTY: (800) 366-6888

About BND

  • Contact Us
  • BND Operations
  • Job Opportunities
  • Mission, Vision, Core Values
  • The BND Story

Resources

  • College Cost Guide
  • College SAVE 529
  • Forms
  • Smart with My Money
  • ND Dollars for Scholars

Financials

  • Annual Reports
  • Credit Rating
  • Financing Reports
  • Interest Rates
  • Quarterly Reports

Securities & Policies

  • Disclaimer
  • Privacy Policy
  • Security & Fraud
  • USA Patriot Act
  • Whistleblower Hotline

Connect with BND on social media

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube
  • X (Twitter)

Copyright © 2025 Bank of North Dakota. All right reserved.
The documents on bnd.nd.gov require Adobe Acrobat Reader to view and print.

  • Accessibility Statement
  • Privacy Policy