Tag: FAFSA

COLLEGE APPLICATION TIMELINES

Colleges/Schools

11th Grade Fall (Aug – Dec): PSAT/PreACT; Research / create a list of Schools…

11th Grade Spring (Jan – June): SAT/ACT; AP Exams; Touring (virtual) Schools…

11th Grade Summer (June – Aug): SAT/ACT; Choose Admission plan (deadlines); Create portals accounts, fill out detail; Request Letter of Recommendations; Tour schools (in person/virtual); Thinking about writing admission essays…

12th Grade (Sept): Send test scores, transcripts, recommendation letters for ED/EA deadlines; Writing admission essays; Continue Scholarship applications;

12th Grade (Oct): File FAFSA, continue to send scores, transcripts for ED/EA…

12th Grade (Nov): Early Decision I (Nov 1 or 15); Early Action (Nov 1 or 15); Regular decision: Send scores, transcripts, recomm. letters for RD deadlines;

12th Grade (Dec): RD rolling admissions, repeat Nov steps for RD admission

12th Grade (Jan): Early Decision II (deadline Jan 1 or 15)

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Differences between SAT and ACT

Colleges/Schools

Both tests have an optional essay. SAT has a Math section where you can’t use a calculator. ACT has a Science section that SAT doesn’t have. ACT requires students to read more quickly because it requires answering each of the reading questions in less than 1 minute, but SAT allows students to answer each reading question in more than 1 minute. You have more time in SAT than the ACT. Same as the Writing sections. For Math, 1 min per question in ACT, but students have more than 1 minute for SAT.

If you need more time, SAT is better.

ReadingACT TimeACT QuestionsACT Min/QuestionSAT TimeSAT QuestionsSAT Min/Question
35min40< 1min / Question65min52>1min / Question
Writing45min75< 1min / Question35min44<1min / Question
Math60min60=1min/Question80min58>1min / Question
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What is Student Aid Report (SAR)?

Financial Aids

The Student Aid Report (SAR) is a document that provides information about your eligibility for federal student aid, including grants, scholarships, and federal student loans. You might receive your SAR in both mail or by logging into your StudentAid.gov account. SAR is a government-type report that summarizes everything that you provided on the FAFSA. It also shows the family’s EFC on the top right-hand corner of the form. If there’s a * next to the EFC on the SAR, it means your FAFSA has been selected for Verification. About 2-3 weeks after you fill out and submit the FAFSA, you will receive your Student Aid Report (SAR). If you do not receive the SAR, call the federal processor. They will ask for the student’s Social Security number and date of birth as verification and will tell you whether your FAFSA has been processed.

Make sure you review all of the information on the SAR. The item numbers printed on the SAR will correspond directly to the question numbers on the FAFSA form. Errors must be immediately corrected or updated on this form and the form re-filed. If an amended tax return is filed later in the year, the financial aid office should be contacted.

Copies of your SAR will be sent to all the schools you listed on the FAFSA. If you need additional copies of the SAR, contact the federal processor and ask for a duplicate SAR.

The College Scholarship Service (CSS) Data Confirmation Report is similar to the SAR. It gives parents and students a chance to correct data.

Verification

After the colleges receive your SAR, they may decide to do a verification (audit) of the financial information provided by the family. The federal government requires that a minimum of 30% of the FAFSAs be selected for verification. If your financial aid application is selected for verification, there will be a * by the EFC amount on the SAR. Each college will require you to submit support documentation, such as your IRS tax returns, W-2, and 1099 forms.

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What is FAFSA?

Financial Aids

To receive financial aid, you will need to apply and be accepted by the college. To apply, you will need to complete an application. The two basic types of financial applications are the Free Application for Federal Student Aid, or FAFSA, and the CSS PROFILE forms.

The FAFSA form is used to calculate EFC. All 2022–23 FAFSA® forms must be submitted by 11:59 p.m. Central time on June 30, 2023.

There are three ways to file a FAFSA:
1) by mailing it to the FAFSA,
2) by filing online through FAFSA on the WEB (www.fafsa.ed.gov),
3) by filing online directly through the college.

The need based analysis uses your financial information from the tax return from 2 years prior.

FAFSA® Process

You can click on the “Apply Now” button on the home page, and just follow the directions on the screen.

You will be assigned an FSA ID, username and password which let you sign FAFSA®. Your FSA ID also can be used to sign loan contracts. Your FSA ID is used to confirm your identity when accessing your financial aid information and electronically signing your federal student aid documents. You will need to fill out your name, social security number, date of birth, address, driver’s license, Tax info including w-2, untaxed info, and all your financial situation, etc.

You can list a few schools on the online FAFSA. You can add more schools later. Schools you list on your FAFSA will automatically receive your FAFSA results electronically.

In order to receive financial aid, the student must: 1) Demonstrate financial need, 2) Received a high school diploma, 3) Be enrolled in college, 4) Be a U.S. citizen or eligible non-citizen, 5) Have a valid social security number, 6) Make satisfactory progress while in college (2.0 GPA), 7) Certify the financial aid will be used for educational purposes, 8) Not be in default of a federal loan.

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