Target Colleges
As you can see from the Financial Aid Roadmap, all roads lead to your target colleges. All the information about your financial status winds up at their financial aid offices.
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The colleges you listed on your FAFSA will receive a copy of your Student Aid Report (SAR) from the federal government.
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For the private schools you apply to, the CSS/Financial Aid PROFILE and institutional forms may also be used to help the colleges determine your financial aid.
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You must also notify the colleges of any private awards or funding you receive.
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The college financial aid office will then coordinate and determine your total financial aid package. This package can include the college's own scholarships, grants and work-study programs.
Questions to Consider:
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How do my target colleges inform me about my financial aid package?
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Will I get my financial aid package in time to decide which school I want to attend?
How do my target colleges inform me about my financial aid package?
College financial aid offices will send you what is called an award letter which outlines the financial package they feel is most appropriate for your situation. Again, this package will consist of a combination of sources which could include, federal or state grants, college based scholarships or grants, work-study programs, federal or privately administered loan programs and any scholarships you may have applied for independently.
Will I get my financial aid package in time to decide which school I want to attend?
YES! Most schools will send out a financial aid award letter with your acceptance letter. Some schools will send it separately, but you should have it within a week or so of being notified of acceptance. If you started the financial aid process on time, you should have all you need to know from the schools so that you can compare financial aid packages with each other.