Lockheed Teams with IRS, Dept. of Education to Aid Students

Lockheed Martin [NYSE: LMT] software developers are helping the Internal Revenue Service and Department of Education make life a whole lot easier for students and their families applying for Federal Student Aid.

Every year millions of prospective college students complete the Free Application for Federal Student Aid (FAFSA) form in their pursuit of funding assistance. The form requires personal financial data that is only available through the IRS. In the past, an applicant had to apply to the IRS, obtain the information, and then submit it along with the application. This took time and additional effort.

To simplify this process, Lockheed Martin worked with the IRS to create a link on the DoEd FAFSA Web page. The developers used Web services to build, test and deploy a shared data system that makes available the data transfer of 14 key pieces of information needed by Department officials to make a determination. To ensure privacy, the process includes the requirement for complete authentication before the data can be transferred. The new process has reduced application time from days or weeks to minutes.

“This project is a perfect example of how our partnership with two government agencies is helping them provide complete citizen service,” said Rocky Thurston, director of financial services. “The result of this initiative has been a faster, easier process for the applicant, the transfer of data that has clarity and is completely accurate, and a demonstration of the possibilities that exist through data sharing.”

Financial-Aid form for Education Loan

For high school seniors applying to college — and students already in college — the time is now to fill out financial-aid applications. The FAFSA, the most important part of the application, is due in California on Tuesday.
It stands for Free Application for Federal Student Aid. The FAFSA is the most important document for anyone seeking scholarships, grants or loans to help pay for college. It looks complicated. Why should I fill it out?
A completed FAFSA is required to receive almost every type of financial aid. It's required for federal aid such as Pell Grants, state aid such as Cal Grants and aid that comes directly from colleges and universities.
And you have to fill one out each year that you want financial aid. What's different about the FAFSA this year?
The online application has been shortened so that if you answer "no" to one question, you don't have to answer any related questions because it skips ahead to the next section.
"It's going to be a great deal easier for students to use," said Carol Mills, a counselor at Luther Burbank High School in Sacramento. "It doesn't take as long."

Shorter College To Host Community-Wide Financial Aid Workshops

The Shorter College Office of Financial Aid will offer free community-wide financial aid workshops during the months of February, March and April.

All parents and students are welcome, including high school seniors and students already enrolled in college, including those attending Shorter College and other colleges or universities.

The sessions will take place on Feb. 18, March 30 and April 13 from 6 p.m. until 8 p.m. and will be held on the main campus of Shorter College in the Sheffield-Thompson computer lab located on the second floor.

Financial aid advisors will be on-hand to help students and parents file 2010-2011 Free Application for Federal Student Aid (FAFSA) forms and offer financial aid advice.

Those wishing to attend should bring a completed 2009 income tax return for both the student and parent, along with an assigned FAFSA PIN.

To reserve a seat for a session, please send an email to financialaid@shorter.edu.

Reservations are appreciated but not required.

Founded in 1873, Shorter College is a Christian college committed to excellence in education.

Shorter will transition to university status on June 1, 2010.

Shorter College’s first free financial student aid workshop will be held on Thursday, Feb. 18, from 6 p.m. until 8 p.m.

For more information, visit www.shorter.edu.