financial aiddd. help please?
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Well, here’s the thing. You may be applying late and not get as much as you hoped with financial aid, but, there is a little secret I learned after dealing with finaid after 5 years. Typically a LOT of students apply for finaid and start school in Aug. Then, as the months go on, they decide it isn’t for them and drop out. When Jan rolls around and you are looking at a new semester, more finaid opens up because of the students who have dropped. More state and local grants (call your college/university and ask about the grants they give, sometimes it’s secretive and goes to first come, first servered if asked about) become available, and loans are ALWAYS available…banks love their interest!
It seems that many posters here have a misconception about FAFSA. You WILL NOT BE OFFERED money after completing the application that you can then take to the school of your choice. Here is a direct quote from the FAFSA FAQ area:
“How do I apply for aid?
Complete the FAFSA and provide the required signatures.
It will take us 3-5 days to process your FAFSA and send you a Student Aid Report (SAR).
Your SAR will summarize the data you report on your FAFSA. Check the SAR carefully to make sure it is accurate.
Keep a copy of your SAR.
If your FAFSA information is complete, an Expected Family Contribution (EFC) will be printed in the upper right corner. Your EFC is based on the financial information you provide on the FAFSA.
Your school will use your EFC to award your financial aid.”
READ THAT LAST LINE CAREFULLY. The school uses the information to determine your award. Yes, there will probably be an offer of a Stafford loan, or another Federal student aid loan if you qualify, but it is ALL handled through the school. So, if you have not applied, do that NOW.
