All About FAFSA: What Do I Do After Submitting My FAFSA?
Congratulations! You've successfully navigated the Free Application for Federal Student Aid (FAFSA) and submitted it. You've taken a significant step toward securing financial aid for your college education. But what comes next? In this guide, we'll explore the essential actions to take after submitting your FAFSA to ensure you make the most of your financial aid opportunities.
1. Review Your Student Aid Report (SAR)
After you submit your FAFSA, you'll receive a Student Aid Report (SAR) within a few days to a few weeks. The SAR summarizes the information you provided on your FAFSA and includes your Expected Family Contribution (EFC). It's crucial to review your SAR for accuracy and to ensure all the information is correct. If you find any errors, follow the instructions provided on the SAR to make corrections.
2. Make Corrections if Necessary
If you need to make corrections to your FAFSA, you can do so by logging back into your FAFSA account and selecting the "Make FAFSA Corrections" option. Common reasons for making corrections include updates to your financial or personal information, changes to the colleges you're applying to, or addressing errors in your SAR. This is also how you add more schools if you have more than 10 schools on your list.
3. Check for Additional Requirements
Colleges and universities that receive your FAFSA data will use it to determine your eligibility for financial aid. Some schools may require additional information or documentation to process your aid package. Keep an eye on your email and any communication from the schools you've applied to for information about additional requirements. Promptly provide any requested documents or information to avoid delays in your financial aid package.
4. Research Institutional and State Aid
In addition to federal financial aid, many colleges and states offer their own financial aid programs. Research the schools you've applied to and check their financial aid websites for information about institutional scholarships, grants, and other forms of aid. Similarly, explore state-based financial aid programs for opportunities specific to your location.
5. Apply for Scholarships
Scholarships are an excellent way to supplement your financial aid package. Research and apply for scholarships from various sources, including private organizations, community groups, and foundations. Many scholarship opportunities have their own application processes and deadlines, so be proactive in seeking out these opportunities.
6. Understand Your Financial Aid Package
Once you receive your financial aid award letters from the colleges you've been accepted to, review them carefully. Your financial aid package will detail the types and amounts of financial aid you're eligible to receive. Pay attention to the terms and conditions of the aid, such as whether it's renewable for subsequent years and any work-study opportunities offered.
7. Accept or Decline Aid
After reviewing your financial aid packages, you'll need to make a decision about which aid to accept and which to decline. You're not obligated to accept all offered aid. Be mindful of your financial needs, the total cost of attendance, and the terms of the aid when making your choices.
8. Continue to Seek Aid Opportunities
Financial aid doesn't stop after your first year of college. Continue to apply for aid and scholarships throughout your academic journey. Many colleges have annual application processes for financial aid, and new scholarship opportunities become available each year.
Submitting your FAFSA is just the beginning of your journey to secure financial aid for your college education. The steps you take after submitting your FAFSA are essential to ensure you receive the support you need. Be diligent in reviewing your SAR, making corrections as necessary, and staying on top of additional requirements from colleges. Explore all potential sources of financial aid and make informed decisions about the aid packages you accept. By taking these steps, you'll be well-prepared to make the most of your financial aid opportunities and make your higher education goals a reality.
