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bright_eyes00's avatar

I need some help with FAFSA...any volunteers?

Asked by bright_eyes00 (1343points) November 5th, 2009

I’m lost when it comes to financial aide and I’m wondering if anyone can tell me what I’m supposed to do…everything went through and I have the “data release number” and I’ve been approved but I really dont know where to go from there. is anyone familiar with this process?

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13 Answers

MrItty's avatar

IIRC, Now you sit back and wait for your college acceptances to start coming in. They may or may not come at the same time as your financial aide packages. Your financial aide package will list how much you and your parents are allowed to take out through the Federal Loan program (Stafford and PLUS).

chelseababyy's avatar

Exactly what @MrItty said.

chelseababyy's avatar

Oh, not to mention that you’ll see if you’ve gotten any grants.

SamIAm's avatar

contact your school’s financial aid dept and your financial aid advisor will help you… my school sent me a packet with all this information (regarding what loans I got and how much they are for) then you will have to take an entrance exam and do a few other things – all of which should be outlined for you in this packet. good luck!

bright_eyes00's avatar

i should have included this above…I do not live with my parents any more.

Skippy's avatar

Take you last 1040 form.
Got to the fafsa.gov website
print the form, fill it in with pencil, go back to the website and enter data.
Every year after you file your taxes, update the website for additional grants and scholarships.

nikipedia's avatar

You have some good advice here. When you say you’ve been “approved” what does that mean? I take it you’ve completed all the paperwork and submitted the forms, right? I believe at some point shortly after submitting you should get an EFC, or Estimated Family Contribution. This number is mostly meaningless. What matters is the financial aid package you are offered by each school that admits you.

Each school may require additional paperwork, though. I would contact each financial aid department and check in with them to make sure they have everything they need from you. It’s a hassle but could be a hassle that saves you thousands of dollars.

bright_eyes00's avatar

My biggest confusion is how to get the money from FAFSA. Do i contact the financial aide office of the school or what??? I know my friend just gets a check in the mail.

chelseababyy's avatar

The financial aid department will give it to you. So yes, contact them.
I got a check in the mail for left over grant money, but that was after everything like my tuition was paid.
You will not get a check for all kinds of financial aid, just some. So make sure you give them a call.

markyy's avatar

Removed by myself, wrong thread!

zephyr826's avatar

@bright_eyes00 Make sure you contact them by phone, or if possible, in person. The FAFSA is a help, but it is by no means the definite end-all-be-all.. We went to the Financial Aid office post-FAFSA and got another couple thousand dollars by explaining to them in person our needs. Good luck.

nikipedia's avatar

You don’t get money from the FAFSA.

Each school will offer you a combination of loans, grants, and/or scholarships based on the information you provided in the FAFSA. The loans, grants, and/or scholarships come from the school, the state, the federal government, and private lenders that have an affiliation with the school.

If you accept your package of loans, grants, and/or scholarships, the money will be paid directly to the school on your behalf. The only reason you would get a check would be if your package covered more money than you actually need for tuition and fees. In this case, the school would send you a check for the remaining money you’ve been given or loaned.

RedPowerLady's avatar

I can answer specific questions you have or perhaps help you through the process via PM. I graduated college in 2006 and from 2004–2006 I was part of a volunteer group that helped high school students get into college. We had some FAFSA training in the process.

Please feel free to ask more questions here. I’m not sure if you’ve already had your question answered or not.

Your Data Release Number appears on your Student Aid Report. After receiving the SAR you just wait for more paperwork. Unless of course you need to make corrections. The school(s) you applied to will send you your Financial Aid Award Letter that will tell you how much money you are expected to receive. So essentially right now you are just waiting for your Award Letter.

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