Financial Aid General Financial Aid Financial Aid Checklist

Financial Aid Basics

In this section you'll find dozens of articles about Financial Aid. You can read about student loans, the FAFSA & Profile as well as the Expected Family Contribution (EFC) and what it means for you. You'll also find some of the tips and tricks we recommend to save you money throughout your college adventure.

 
Financial Aid Checklist PDF Print E-mail
Written by Michael Karp   
Saturday, 22 August 2009 10:36

December:

If you do not have a Federal Student Aid (FSA) PIN, go to www.pin.ed.gov and apply. Please provide this information on your datasheet to expedite processing. Due to Federal regulations we cannot make this application for you or the student. A PIN is issued to an individual, so both students and parents should get a PIN.

Determine if your student will be attending a PROFILE school www.collegeboard.org. Some of these schools have a Dec. 31 deadline for the PROFILE. If so, please be sure to submit your PROFILES as soon as possible.


January:

Starting January 1 you can begin filing FAFSA www.fafsa.ed.gov applications. Private school filings should receive priority over public institutions due to their aid policies. Public schools offer little if any institutional aid while private institutions often distribute funds on a first-come first-served basis.

You will use your PIN to electronically sign your FAFSA. This gets your information to the school faster thereby increasing your chances of getting free money. If you provided an email address, you will receive email confirmation of filing. You can print a copy of the FAFSA by following the link in the email. Completing the FAFSA also initiates your application for a State Grant. Expect to receive a confirmation letter from the State Agency within three weeks of FAFSA submission.

Some schools will have institutional aid applications that must be completed.

February:

State Grant Status Notices are sent to all FAFSA applicants. These notices serve to verify information provided on your FAFSA. If the information is correct, you have two options to complete this form:

o The PHEAA notice requests only three or four pieces of information, such as the student’s high school name, expected major and parent employment status. You can complete this in about five minutes. After completion, just sign and return in the envelope provided.

Process your tax return as soon as possible. Some schools may provide preliminary aid awards at this time but most will wait until late March or April. Follow up with your guidance counselor to see if your student may need to apply to additional or safety schools.

March:

Students should begin to receive aid award letters in mid to late March. Some schools may wait until April. Check with your student’s school to find their expected mailing date.

April:

Tax returns are due April 15, so be sure to complete your tax return as soon as possible. Deadline for State Grant applications is May 1.Once you have received all or the majority of aid award letters you may wish to contact the financial aid office regarding aid negotiation / appeal; depending upon your families situation.

May through July:

Depending on the school selected by your student, loan applications can be completed as early as May (many private schools) or as late as July (most public schools). Loan applications are usually completed online and are processed within a few days.

 

Last Updated on Saturday, 22 August 2009 12:14
 

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