Guest Post: What is the New FSA ID?
What is the New FSA ID?
By Jessica Ferastoaru, Take Charge America
What is the FSA ID?
Starting this month, student loan borrowers will start using the FSA ID to login to a number of federal student aid websites. The FSA ID consists of a unique username and password that will identify the user when accessing these federal websites:
At these websites, students can apply for financial aid, complete entrance and exit counseling, view a detailed history of their student loans, and submit an online application to consolidate loans or enroll in an income-driven repayment plan. This means that students will use the FSA ID in all stages of the financial aid process, from when they first apply for financial aid to when their loans enter repayment.
What happened to my PIN?
You may be familiar with using a 4-digit PIN to access your online federal student loan information. Starting this month, you will no longer be able to use your federal student aid PIN to gain access. The PIN has been replaced with the FSA ID. You will be prompted to enter your PIN when you create your FSA ID, but once your FSA ID has been established, you will no longer use your PIN.
Where do I get an FSA ID?
To create your own FSA ID, go to FSAID.ed.gov. You must be 13 years or older to create an FSA ID. After creating a username and password, you will enter personal identifying information, including your name, Social Security number and date of birth.
To gain immediate access to the federal student aid websites, you will need to link your 4-digit federal student aid PIN to your FSA ID. If you do not know your PIN, the Social Security Administration (SSA) will first need to verify your identity in order to create your FSA ID, which could take 1-3 days. After this waiting period, you will have full access to the federal websites.
Can I share my FSA ID with others?
You should never share your FSA ID with anyone, even if you are working with a company who is helping you with your student loans. It is important to keep your FSA ID private because it can be used to login to federal websites where you can view your personal loan information and electronically sign documents. As an added security measure, you will also create multiple challenge questions associated with your FSA ID.
If a company asks for your FSA ID or attempts to create an FSA ID for you, this is a red flag. Companies should never ask you to compromise the security of your FSA ID, even if they are trying to help.
If you need assistance with creating an FSA ID, you can contact a nonprofit student loan counselor at Take Charge America. Counselors at Take Charge America can help you navigate through the FSA ID process, as well as answer any of your student loan questions. You can reach a counselor by calling 877-784-2008.
Jessica Ferastoaru is a Student Loan Counselor for Take Charge America