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Financial Aid Process

I have completed a FAFSA...Now what?

Student Aid Report (SAR)
Expect to receive your Student Aid Report (SAR) within 3 weeks of completing the FAFSA. If you provided an email address on your FAFSA, you will receive an email with directions on how to access your SAR electronically with your PIN. If you did not provide an email address, your SAR will arrive in the mail. Review your SAR carefully and follow any instructions. If you need to make changes or corrections to the submitted data, contact your college financial aid office or go online at www.fafsa.ed.gov. If you do not receive your SAR within 3 weeks, go online at www.fafsa.ed.gov or call 800-433-3243 to check the status. The SAR contains EFC information (see below), as well as initial information about your Pell Grant eligibility. Colleges and universities also will use the SAR data to determine eligibility for other financial aid programs.

Your Expected Family Contribution (EFC)
The EFC is the amount you or your family may be expected to provide toward one year of educational expenses. The EFC is determined based on the FAFSA data. Your EFC will remain the same regardless of the college you plan to attend.

Financial Need
The college determines your financial need by subtracting your EFC from the cost of attendance at the college. Your financial need will fluctuate depending on the cost of the college or university that you attend (see example below). The college will try to meet your financial need with whatever funds are available. You will be notified of your eligibility with an award letter from the college.

Cost of Attendance
The cost of attendance is more than just the amount charged for tuition. It can also include books, fees, housing, transportation, and personal or miscellaneous expenses. The cost of attendance is determined by the college or university and will vary by college, location, and major course of study. Check with the college for your specific costs.

College/University Costs	School A	School B	School C
Tuition & Fees	$3,255	$5,903	$19,639
Room & Board	$3,492	$6,280	$5,818
Books & Supplies	$880	$880	$880
Transportation & Personal	$2,595	$2,595	$2,595
Total Cost of Attendance	$10,222	$15,657	$28,932
Minus EFC (from the FAFSA results)	$6,800	$6,800	$6,800
FINANCIAL NEED	$3,422	$8,857	$22,132

Tip:  Continue to research scholarship and other financial aid options. Explore the private scholarship possibilities that may be available from the college, businesses, local charitable foundations, religious organizations, or civic and fraternal organizations. Have reference letters ready and meet all application deadlines.