Deadline to accept financial aid?

Paying for College
1

<p>Hello! I hope this is not a stupid question, but I was wondering when the deadline is to accept a financial aid offer? Is it May 1, like the college decision? Sooner? I ask because I'm still waiting to hear back from some colleges in about two weeks, but I also wasn't sure if I went ahead and accepted financial aid offers, even before I decide to attend? Or do I wait until I decide, so the college will not disperse or plan to disperse funds for me? Is it different for every school?</p>

<p>I'm starting to received the financial aid letters, but none of them have deadlines on them that I can see, so I am confused. I don't really want to accept any offers until I know where I'm going, and I wanted to see if that was the policy to follow? Should I just contact the individual schools and ask? Thanks!</p>

2

<p>You can accept an offer without actually making a commitment to attend. Some schools have a deadline for accepting aid (for limited grants such as SEOG), but not all do. If there is no deadline, you don’t need to accept at this time … you can wait until you make a decision, then accept at the school you will attend.</p>

3

<p>It depends on the school and scholarships. If the acceptance is for the financial aid only, it is not binding. Many schools put grants and scholarships portions as accepted already on the FA package. So basically May 1 would be the decision day unless it specified otherwise. The money would not be disbursed until you enrolled and often after more paper works and verifications.</p>

4

<p>Thank you both!! </p>