I can’t find the thread for this years FASFA help.
My question is when do we find out the award amount? My daughter’s SAR letter said she was eligible for a Pell Grant. But, no amount.
She also added an in state school a week after submitting initial app. Will they use the original date it was verified or the new date to decide if there are in state funds available should they run out?
Thanks!
You need to check the college’s web site to see when the FA offers go out. It will vary.
Did it give you the SAR number? There is a chart that shows the amount of Pell grant based on the SAR. Roughly for 2016-17, it is $5800-SAR (it’s not exact, but close). The maximum Pell for 2017-18 was just released.
Every college has a release time for both admissions and financial aid. Your kiddo will not receive a financial aid package until she is accepted at the colleges.
As noted, look in the websites for information.
Also, the FAFSA EFC is not really going to give you information about anything but potential eligibility for a Pell Grant.
There are net proce calculators on the college websites. You might want to put your financial info into those, and see what churns out for a net price.
ETA…if you added a college…the date of submission to THAT college is what will be used in terms of the initial filing date. In other words, if you applied to other schools prior to that…the date for those schools won’t be used for the added school(s).
Ok, thanks so much. I completely understand now. I guess I thought they gave you a number/amount now that could be used for whichever school she decided to go to.
The SAR will tell you what the Pell grant will be, and that will be the same for every school (barring adjustments after verification).
You submit your FAFSA to each college. The colleges take the info from the FAFSA and plug it into their financial aid formula calculations for institutional aid purposes. The vast majority of colleges do not meet full need…so your FAFSA EFC should be viewed as the minimum you will be expected to pay for,that first year.
As noted, the only thing your SAR guarantees is whatever Pell Grant you are eligible to receive.
Beyond that…your financial aid packages will likely vary from school to,school.