Congratulations, you might have already submitted your FAFSA like most of the other students but now you must be wondering what is next to come? Don’t worry, you are not alone; most of the candidates have these doubts, especially those who are applying for it for the first time.
Remember, the process does not end with submitting the form; there is much more to do after submission. We are here to guide you regarding everything you can do after submitting your Student Aid Application.
Before we move toward that, let’s find out what FAFSA is and how it works.
What Is FAFSA?
The term is referred to as Free Application for Federal Student Aid. Every student must know about this financial support option before they start their undergraduate or graduate journey, as it will help them throughout their journey.
To make yourself qualified for getting your Educational Aids you must fill this form every year. It is free and is available on the Federal Student Aid website. It can be submitted either online or through mail.
The assistance you will get depends on your student aid index (SAI), formerly known as Effective Family Contribution (EFC). Everyone can secure support through this platform regardless of economic need, family income, or academics.
The forms are opened and released for students and their families every year on Oct 1st. In 2024, when FAFSA had gone through simplification, the release was delayed, and it was open in Dec.
Applying as soon as possible is recommended to secure as much aid as possible. Don’t wait and apply now for your Educational Grants, as some of this funding is often provided on a first-come, first-serve basis, and no one wants to miss such a great opportunity.
How To Apply
Applying for your Free Application for Federal Student Aid is easy and cost-free. You need an active FSA ID to process your application. Everyone can apply for it; family members can also apply for a dependent student. The eligibility requirements include
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Applicant to be an eligible us citizen or eligible non-citizen
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Applying candidates to be 18 years or above
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Having a social security card number (SSN)
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Not having any criminal record
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An active FSA ID
The application process has the following steps
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Login to your FSA ID; if you are applying for the first time, you need to sign up for one
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Provide information on your income tax return and your parent's income tax return
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Provide details of your driving license and social security card number
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Attach documents and records of your untaxed income if you have any
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Your current bank account statement
Once you are done with all the above-mentioned steps, you can submit your form so it can be reviewed for financial resources.
What Happens After Submitting Student Aid Application
The million-dollar question arises once you have submitted the form. Essentially, you receive your SAR, where you may be asked for certain verifications or to provide additional details and documents as needed. Once you are done with all these, you will receive your award letter, which is the final part.
But what to do in between all of this process? Apart from waiting to receive your Student Aid Report (SAR), there is a lot more that you can do after filing for your financial assistance.
College Evently has sorted out the things for you by letting you know what you can do once you are done.
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You can add more names of institutes if you have not previously entered all ten. You can also update the list by adding other institutions' names.
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There are times when your economic condition changes, so take time and make updates so your status is always up to date as they are needed to be qualified for the right amount of financial assistance.
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You can also update other information besides finance, such as your contact details, addresses, or numbers.
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Use this time efficiently to make corrections.
Other things that you can do are discussed below in detail.
Check Your Status
Keep checking your email for any updates. The first thing you will receive is your status once you complete the process.
An email confirming your Free Application for Federal Student Aid process will be delivered to your inbox. It usually takes three days to process the form and send it to your selected colleges.
If you have submitted it electronically, you can check your status immediately, but if you have mailed it, you may have to wait for around seven to eight days.
Review Your SAR Summary
Once you are assured of your status, the next most important thing to do is to review your submission summary of Educational Aids. Make sure you have not made any mistakes by having a keen eye on all the details and information you have provided on the form.
The summary is primarily broken into four parts, which include
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Your eligibility overview
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FAFSA form answers
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School information
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Next steps
The eligibility overview shows your eligibility for the different types of aids like Pell Grant or FSEOG. You can also see your student aid index here. It also provides an estimated figure of the funds you might get, but these are not guaranteed figures. The decision is ultimately in the hands of the school’s financial aid office.
When reviewing your answers, you can take time to make any last-minute changes that you think will work for you. You can also make corrections if there is any error.
Your summary also has the list of your schools and the estimated aid you are expected to receive from them so you can compare each of them separately with each other.
The last section may ask you for additional requirements which your selected school may ask from you; this could be an additional document or a supplemental financial aid form. Make sure to check your “next step” tab as it notifies you of these additional to-do’s.
Where Does Your Student Aid Application Information Go
The information that you have provided is handed over to the colleges that you have listed in your form. It is then forwarded to the financial aid office of these organizations, where the information you have provided is reviewed, and your aid is estimated based on the data that you have entered.
Apart from going to the institutes, your information is also given to the higher education agency and other educational agencies working for your state. Many states also offer funding opportunities to struggling graduates, and you may secure one from your state.
Frequently Asked Questions
If you are applying online through the StudentAid.gov website, your form will take approximately three to five days to process. However, if you are going for the paper form and are opting to mail it, then the processing may take a time of seven to ten days, after which you will get your update.
