Get Started Now!
A Step-by-Step Guide
There is no time to waste. College will soon be upon you.- It's the fall of your senior year - start searching:
- Search for a college.
- Search for any available grants and scholarships.
- Apply as early as possible.
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- After applying for admission, complete the following:
- File the Free Application for Federal Student Aid (FAFSA) after January 1 (after completing your taxes).
- File any other school required forms by their set deadlines.
The FAFSA is the one form every student applying for federal financial aid must complete. File it as soon as possible after you have completed your prior year's taxes. The FAFSA can be completed by going online to www.fafsa.ed.gov.
After completing your FAFSA, you and each school you designate within the form will receive a Student Aid Report (SAR). The SAR contains your Expected Family Contribution (EFC). Schools that accept you for admission will use this information to calculate a financial aid award package. The award package will usually be sent to you electronically or in the mail by the school.
A note about Expected Family Contribution (EFC): This is the amount your family is expected to contribute toward college expenses, as determined by the information you provided in the FAFSA. No matter what school you attend, your EFC remains the same. Your EFC helps schools determine the amount of financial aid than can be offered.
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- You've been accepted - it's time to make a decision:
- Compare the financial aid award packages carefully.
- Get answers to any questions you may have from the college financial aid office.
- Choose the college that's right for you.
You will receive an official award letter from the financial aid offices at the colleges to which you have applied. The award packages from each school will vary, yet each will provide information on how much federal, institutional, and state aid you are eligible for. Take the time to compare the packages and follow up with the individual financial aid offices if you have any questions.
The moment has come. Choose the school you will attend and follow the instructions on your acceptance letter.
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- Don't forget to follow through on your financial aid:
- Accept your award package.
- Choose your student loan lender.
- Complete your student loan applications.
If you are eligible for student loans, and have decided to borrow, it is best to accept Federal Stafford Loan (subsidized or unsubsidized) first. After accepting Federal Stafford Loan(s) as part of your award package, you will then be instructed as how to complete your loan application.
If you are wondering how much to borrow, refer to Financial Survival 101 for a description of costs to attend college, and use the interactive budget to figure out your personal college expenses. Be sure to borrow no more than you need. All student loan must be repaid.
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- Choose a UHEAA Partner Lender.
UHEAA offers some of the best borrower benefits (loan discounts) in the country. Be sure to select a UHEAA Partner Lender when completing your loan application.
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- You're on your way:
- Complete your loan entrance counseling.
- Sign for the money (if required).
When you borrow for the first time, you must complete an entrance counseling prior to receiving loan proceeds. Many schools require this counseling annually. Your financial aid office will can give you details on how to complete this required task.
Your financial aid funds will be sent to your school in increments usually by term or semester. Most funds are applied automatically to your tuition and other eligible fees. Some loan proceeds may require your signature. Keep good records and get a great education!
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