Financial aid time line

Careers and Colleges, Nov-Dec, 2002

Seniors: Use this calendar to prepare through the summer.

Juniors: Look to September and what lies ahead.

JANUARY

* To qualify for the most aid possible, submit your FAFSA (see page 36) as early as you tan after January 1.

FEBRUARY

* If you sent in your FAFSA on January 1 or shortly after that, you should receive a Student Aid Report (SAR) indicating your eligibility for aid and your family's expected contribution.

* Make any corrections to your SAR, including updates based on your family's federal 1040 tax forms.

* Sign, date, and return the SAR to the address designated.

MARCH

* Receive a corrected SAR if needed.

* Make sure a copy of the corrected SAR reaches the financial aid office at each college you're applying to.

APRIL

* You may receive notices of admission and financial aid awards. You can begin to compare offers.

MAY

* May 1 is the traditional Candidate's Reply Date. You must accept an offer from one school and decline all others.

* Complete any loan forms (for Stafford, PLUS, etc.)

JUNE, JULY, & AUGUST

* Consider working during the summer so you will have money for expenses when you arrive on campus.

* Continue to look for scholarships. You will need funds beyond freshman year and new scholarships appear every year. Make note which of your awards are renewable.

SEPTEMBER

* Although the FAFSA isn't available till November, it's the primary form used for awarding student aid. Filling it out can be involved, so get familiar with the information you'll need to complete it.

* Keep an eye out for scholarships and prepare applications as you find ones for which you may qualify. Keep track of all scholarship deadlines (see page 14).

OCTOBER

* As you narrow down the list of schools to which you're applying, you may find out that they require you to file additional financial aid forms. Some private colleges require that you file the PROFILE form. PROFILE deadlines vary depending on the school. For a form, call (800) 778-6888.

* Compare overall college costs for the schools that interest you. Also, find out the percentage of students who receive financial aid at those schools.

NOVEMBER

* If you're applying for early decision, remember that most schools have deadlines in mid November.

* Check if your high school offers any free workshops on how to complete financial aid forms.

DECEMBER

* Complete your FAFSA, but do not mail it until January 1. Make sure you've properly signed and dated the document. Any mistakes can delay the process and result in lost aid.

* Keep copies of everything you mail! If anything gets lost or you need to verify information, you don't want to waste time scrambling to reassemble information.