February Newsletter: I Have Filed my FAFSA, Now What?
Hello Students — We hope you are having a great semester!
In February’s newsletter, we explain the Student Aid Report (SAR) and why you should carefully read this document to make certain all information is accurate. Additionally, we provide information on the upcoming FAFSA deadlines. We also feature the latest ScholarshipPoints winner, and offer those who are not Scholarship Points members the opportunity to join the fun!
Next Steps After Filing Your FAFSA
Those of you who followed our recommendation and filed your FAFSA early should be receiving your Student Aid Report (SAR) by now. The SAR is a report from the Dept. of Education summarizes and confirms the information from your FAFSA. Your job now is to review it thoroughly and correct any errors, which you may do on the web or by mailing in an attached form. The SAR will alert you if any parts of your application were missing or incomplete, or if your application has been selected for verification.
The SAR will also report the amount the government believes you can afford to pay out of pocket for college – your EFC, or Expected Family Contribution. The lower the EFC number the greater the financial need. The EFC is used to determine your eligibility for federal aid programs such as Pell grants, Stafford Loans, and other special grants.
The SAR is also delivered to up to ten colleges of your choice, designated by their FAFSA school code. Next, the schools send out financial aid award letters detailing what aid they’re able to offer you. Stay tuned to FinancialAidNews for a review of your award letters next month.
Want to see the next steps in the process? Check out the Financial Aid Calendar.
Reminder: FAFSA Deadlines Approaching
With classes underway, make sure you allot time for filing your FAFSA. Many schools have first-come first-served policies in place for their limited pools of aid, and filing your FAFSA as soon as possible will ensure you receive the aid you are eligible for. Most deadlines are before March 1 – that is less than a month away! The school and state deadlines can be difficult to keep track of, especially if you’re entering into any special programs or applying for grants. Check your FAFSA deadlines now and plan accordingly.
Unlike studying for your English quiz, the FAFSA should not be left until the last minute or rushed through. Students lose thousands of dollars in aid each year due to mistakes on their FAFSA. If this is your first time filing, try completing a printable practice form first.
File Your FAFSA » View Here
January $10,000 Scholarship Winner
Arielle Bass was recently announced as the December 2010 $1,000 Free College Scholarship winner. Arielle is a nursing student at Florida State University. “This scholarship will help me pay for tuition and ease my parent’s minds about the cost of the college experience,” said Arielle. “This is a great surprise for the new year!” Do you want to become a College Scholarship Winner just like Arielle, but are not a member yet? Click here to become a ScholarshipPoints member.
ScholarshipPoints members, click to login into ScholarshipPoints now and redeem the code FANFEB11 for 25 scholarship points.
Thinking about Grad School?
Check out GraduateCenter.com, featuring resources for graduate students and recent college graduates, to get advice on when to start grad school and to search for graduate programs.
February’s Featured Blog
Attention Class of 2010! Most of you are receiving your first student loan bills as your grace period comes to a close. Student loans are considered good debt, but make sure you take the steps to avoid student loan default and poor credit.
Click to avoid Student Loan Default.
Looking for a summer internship?
The value of summer internships is no secret. Internships help you build connections and gain real-world experience. If you haven’t already found the perfect Summer internship, now is the time to do so. Internships.com has everything you need to find, apply for, and land your next internship. Click here to register today for free access to the web’s largest internship database plus helpful tools to help you during your search.
Tune in Next Month
Coming up in the March FAN: Options for paying for grad school, details about the ScholarshipPoints.com March 15th $10,000 scholarship drawing and what to do once you receive your Federal Aid Package
If there is a particular topic you would like us to cover, leave a comment on our suggestions page.
FinancialAidNews.com and the Financial Aid Newsletter are services of the Student Loan Network. We recommend that you always fully explore scholarships, grants and all federal student aid options to pay for your education prior to applying for a private student loan. To change your preferences or unsubscribe, visit our communications center.