FAFSA

[Chubbz]

i filled out an application and now im just wondering what happens next



colleges like payment in the form of money

 

[RMSistight]

They will produce a SAR form (Student Air Report) in about 2 months time or less to tell you your EFC. The EFC (Expected Family Contribution) is the amount in which you will have to pay with your pocket. The SAR is basically a checkpoint to make sure all your information is correct and your tax information is correct as well. After you mail the SAR back, that information will be passed onto your institution. They will review your information and during the summer before school starts they will mail your actual award letter indicating what you will be receiving. Make sure you stay on top of everything with regards to sending back forms and the such in a timely manner. If you don't, you will only delay everything.

Your college will have a crack at whatever award you get. So they take out your tuition and any other fees that are owed to them. Whatever that's left over you get in the form of a check. If you qualify for Cal Grants, you get the entire amount. If you are getting a subsidized loan, you get the entire amount as well. But, like I said, all your financial aid will be screened by your college or institution first before it is dispersed to you.

Word to the wise: Don't fvck up your GPA and don't take financial aid for granted. Pass all of your classes because they WILL be monitoring your academic performance. Screw up and fail your classes, you will have to pay ALL of it back except for the loans.

 

[Chubbz]

3.1 GPA so far

ill keep it around there

how do you qualify for Cal Grants?

 

[RMSistight]

Originally posted by: Chubbz
3.1 GPA so far

ill keep it around there

how do you qualify for Cal Grants?

Linkage

This will explain all the programs they are offering.

Cal Grants are limited to FOUR years. If you're in a special major like in Engineering for example, it's 5 years. Financial Aid is limited to 6 years or 160 units (which ever comes first) for an undergraduate degree.

 

[dullard]

Did you turn in the FAFSA yet? For years if you mailed it in (or submitted online) even one day before January then it applies to the current year not the next year. That means if you submit a FAFSA now it is supposed to apply to the dates fall 2004 to summer 2005. But if you submit it in two days it will apply to the dates fall 2005 to summer 2006. Submit or mail no earlier than January 1, 2005 and no later than June 30, 2006.

From this paragraph I'll assume you want it for the fall 2005 - summer 2006 dates. Submitting online on January 1st or 2nd is the best possible method and best possible time. You'll be first in line for aid and the best forms of aid are limited; whoever submits first gets it and the rest are left out in the cold. Do it then and you'll get your SAR probably at the end of January. Check it over for mistakes and return it as soon as possible so you don't lose your place in the front of the line.

Then there will be a half dozen other mailings that you'll receive. They will describe what you are qualified to receive, what those different forms of aid mean, and clarifications for data you submitted in the FAFSA application. Pick and choose which aid forms you want (you can even reject them all or accept them all). Sign a few papers. Then you are done.

If your school is like mine were, your bill will be due before the aid is given to you (they check up to make sure you didn't drop your courses, thus the delay). So you have to beg your school to delay the bill without giving you late fees (it happens to a ton of their students so at most schools they won't put up a fight). Any money that is left over after tuition and fees are paid will be mailed to you.

 

[RMSistight]

Originally posted by: dullard
Did you turn in the FAFSA yet? For years if you mailed it in (or submitted online) even one day before January then it applies to the current year not the next year. That means if you submit a FAFSA now it is supposed to apply to the dates fall 2004 to summer 2005. But if you submit it in two days it will apply to the dates fall 2005 to summer 2006. Submit or mail no earlier than January 1, 2005 and no later than June 30, 2006.

From this paragraph I'll assume you want it for the fall 2005 - summer 2006 dates. Submitting online on January 1st or 2nd is the best possible method and best possible time. You'll be first in line for aid and the best forms of aid are limited; whoever submits first gets it and the rest are left out in the cold. Do it then and you'll get your SAR probably at the end of January. Check it over for mistakes and return it as soon as possible so you don't lose your place in the front of the line.

Then there will be a half dozen other mailings that you'll receive. They will describe what you are qualified to receive, what those different forms of aid mean, and clarifications for data you submitted in the FAFSA application. Pick and choose which aid forms you want (you can even reject them all or accept them all). Sign a few papers. Then you are done.

If your school is like mine were, your bill will be due before the aid is given to you (they check up to make sure you didn't drop your courses, thus the delay). So you have to beg your school to delay the bill without giving you late fees (it happens to a ton of their students so at most schools they won't put up a fight). Any money that is left over after tuition and fees are paid will be mailed to you.

If you have financial aid, your school should defer your fee until they receive your funds since they know you are receiving the aid.

 

[dullard]

Originally posted by: RMSistight
If you have financial aid, your school should defer your fee until they receive your funds since they know you are receiving the aid.

That is what I said. Most schools will do it without a blink of an eye. But in many places you'll get the bill and have to actually ask them to delay it.

 

[RMSistight]

Originally posted by: dullard

Originally posted by: RMSistight
If you have financial aid, your school should defer your fee until they receive your funds since they know you are receiving the aid.

That is what I said. Most schools will do it without a blink of an eye. But in many places you'll get the bill and have to actually ask them to delay it.

Hmm..my university does it for me automatically.