<p>I had filed the FAFSA on the first. It processed successfully and all. My SAR just states what to do if I want to sign up for SS (too young right now) and that I must correct 2011 financial estimates/ data with 2012 tax returns. Beyond that, what am I to do? </p>
<p>Maybe I am being impatient/ anxious/ etc., but generally when do colleges state the amount they want to give? Do colleges individually send an amount, or does it come all together?</p>
<p>One university of mine claims it is still waiting for my FAFSA report (not sure about the others). Does this mean that my FAFSA data is not even being sent until the final, 2012 financial records are entered? It would make sense, but I would hate to waste time if I am missing a simple step.</p>
<p>Too many questions, I know, but I do appreciate any feedback :)</p>
<p>The FAFSA is simply a tool that colleges use to determine whether or not you qualify for federal assistance. Most schools also use the data from it to determine any financial aid given directly from the school.</p>
<p>Have you checked each school to be certain whether or not you need to fill out a financial aid application from that school?</p>
<p>Schools vary in their financial award notifications. Sometimes merit scholarships (not dependent upon financial need, but a way to attract top students) is announced with your acceptance letter. Most times, need-based awards are not determined until spring, after all admission decisions are made. </p>
<p>It is an anxious time, isn’t it? We did not know which school my daughter could afford to attend until about two weeks before she had to notifiy the school that she was matriculating.</p>
<p>Colleges will individually send the information. Many now post it on-line. Generally the information comes in the March/April timeframe. I believe the colleges retrieve the data when they are ready to prepare the incoming freshman aid packages. Many colleges prepare the incoming freshman aid first then move on to sophomores, juniors, seniors. As KKmama says colleges that offer true merit aid (scholarships not dependent on a family’s financial situation and often GPA/Test score based) can come anytime after an acceptance but the actual financial aid “package” will reflect the entire situation.</p>
<p>I am a financial aid administrator, and my computer system is not even ready to load 2013-14 FAFSAs yet! Schools vary in the timing of award letters, but most try to get letters to first-time freshmen early … even so, the large U where I used to work didn’t start packaging aid until mid-late February (in a good year). Private schools sometimes give an award estimate earlier, but again … their computer systems have to be set up for the new FAFSA year & everything has to be tested before awards can be packaged. Hang in there.</p>
<p>Oh, I am stressing for no reason at all. I really appreciation the replies; I thought the returns came almost instantly-- as other forums claimed so. Ah well, I am good now
Thanks again.</p>
<p>Alright, you may be thinking of the EFC, which is calculated quickly. That’s what the Gov’t thinks you and your family should be able to pay. But each school decides for itself what they are going to ask you to pay.</p>
<p>The EFC will give you some idea about what government aid you might be eligible for. If you are PELL eligible it would indicate that. IF your school uses FAFSA only for finacial aid applications, these are the numbers they will be using to come up with your need. In such cases unless there is a merit award in the picture to Exceed the need figure, the maximum package you can expect to get is the COA of the school minus the EFC. Few colleges will meet that need figure, however.</p>
<p>For me, the reality is that my DD will end up at the most affordable school. We have heard from several schools my DD is accepted at about scholarship money already–one of them being Penn State. However, we have not heard from her first or second choice school. From what I understand, the sooner you get your deposit in, the better housing opportunities you get. This presents a conundrum: wait for DD’s preferred school to send a financial aid package and either like it our hate it. If we don’t get what we need and she sends up at Penn State, will she be stuck bunking with five girls in some lounge because we waited on the deposit! Ugghhh! This is confusing, stressful and a real pain in the butt!! Any suggestions?</p>
<p>I advise sending the deposit money in and if she changes her mind, petition to get it back if possible, but basically consider it a sunk cost. Two of my kids got end of the line housing, and it was problematic. I wish I had just sent in the deposit money earlier before they had made up their minds.</p>
<p>Gatsby - just to make sure. You say you filed the FAFSA - did you also indicate the schools you want it sent to? Something in your post caused me to think of this and I wanted to make sure you are all set.:)</p>
<p>I agree with CPT. We deposted at the state flagship because S3 got accepted, got accepted to a freshman program related to his major, got accepted into special housing for that major but ONLY if we depositied - fully refundable with notification up until May 1. So read the fine print and deposit if it makes strategic sense, it might not be difficult to recoup the money. I’ve also seen schools were you make a ‘housing deposit’ which is separate from depositing to hold a place IN THE COLLEGE so again, read and determine whether it is solely a housing deposit or if it is a deposit to hold a place in the freshman class.</p>
