Lesson

What’s Next

Once your FAFSA's been submitted, a few things you need to be aware of:

  • Schools Get Your FAFSA Results

    If you’ve filed the FAFSA online, within one day each school you listed on your FAFSA will get the personal and financial information you’ve shared.

  • You'll Get a Student Aid Report (SAR)

    If you filed the FAFSA electronically you’ll get an email with info on how to access your SAR. The SAR is a document that gives you basic information regarding your eligibility for financial aid based on the information you included on your FAFSA.

  • Schools Determine What You Qualify For

    If you’ve been accepted at any of the schools you applied to, the Financial Aid Office at each school will determine which types, and how much, financial aid you qualify for based on what they have available to give. We talked all out this process in an earlier lesson, “COA, EFC, Need and Gap“.

  • Financial Aid Award Letters

    You’ll get a Financial Aid Award letter from each school you’ve been accepted to. This letter identifies the forms (and amounts) of aid you qualify for and the amount you’ll be responsible for paying that year.

  • Compare Financial Aid Awards

    You’ll compare the Financial Aid Award letters from the schools that accepted you to determine which school makes the most sense for you financially.

  • Make a Decision

    You’ll make a decision as to which school you’ll be attending and accept the financial aid package they offered you.

  • Accepting Student Loans?

    If you’ve been offered loans via the school you’ve chosen, do what needs to be done to accept those.  Sign the Promissory Notes (MPN) and do the Entrance Counseling.

  • Offered School or State Aid?

    If you’ve been offered state or school specific aid you’ll find out (from the Financial Aid Office at the school) if there are any additional forms that need to be filled out.

  • Offered Work Study?

    If you’ve been offered Work Study on your SAR you’ll contact your Financial Aid Office to find the list of work study jobs and then you’ll complete the required applications.

  • Appeals

    If your Financial Aid package is less than you had hoped, and there are extenuating circumstances that have put a significant financial burden on you or your family (ie. job loss, family illness, etc.), you can file an Appeal with the school’s Financial Aid Office to see if they can offer you more money.

Doing the reading &/or work for each of the “Topics” listed in this “Lesson” (see Topics below) will help you to understand your Financial Aid package so that you can make a well informed decision about which school will be the best choice for you!

Video Source: “Federal Student Aid