Financial Aid Timeline

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Financial Aid Timeline
  What is Happening What You Need to be Doing
SOPHOMORE Year
Fall   Review Financial  Aid Strategies
 
5 Financial Aid Strategies Parents of Sophomores Need to Know Before the Spring Semester
Spring Jan 1: Start of the tax year that will be used for financial aid. Use College Board EFC Calculator
 
Start using Net Price Calculators
JUNIOR Year
Jan   Save the information you use to complete your taxes for use in the fall.
SENIOR Year
Sept   Collect required financial documents
 
Check financial aid priority deadlines for all possible colleges and state aid program.
 
Apply for FSAID (both parent and student for dependent students).
Oct-Nov Oct 1: CSS/Financial PROFILE available Complete CSS/Financial PROFILE if required for early decision or early action.
  Oct 1: FAFSA is available Complete FAFSA as soon as possible, submit any special circumstances information to financial aid office.
Jan-Mar Time period for fine arts scholarship auditions, campus scholarship weekends. Review your Student Aid Report (SAR)
Feb-Apr Receive financial aid award letters Compare financial aid awards
   
  Appeal award if needed
May National Association for College Admission Counseling listing of colleges still accepting students and awarding aid available May 1: deadline to place deposit for school you accept. (some schools require an earlier and separate deposit for housing)
 
Accept part of or all of award
 
Report outside scholarships
 
Check with college for following:
 
* when/where work-study jobs are posted
 
* how funds will be disbursed and how often
 
* for start date of payment plans-9 month payment plans will often start in the summer before you ever receive a bill.
 
Summer   Apply for loans part of award
 
Apply for PLUS loans
 
Apply for private loans
     
July   Complete federal loan counseling and sign Master Promissory Notes
Start of Freshman Semester Financial aid award is being deducted from semester bill. Any remaining funds are disbursed to the student Check statement for application of all funds especially outside scholarships.
 
Change your monthly tuition payment amounts if necessary to reflect actual costs.

 

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