Michelle answers:

After you submit a FAFSA, it goes to a central processing system where it goes through a number of data matches (ssn, selective service, citizenship, etc.). The information is analyzed and an EFC (expected family contribution) number is assigned. Then a Student Aid Report (SAR) is sent to you and to the schools you listed. This usually takes a few days.

There is a comment section on the SAR. If there are instructions there–for example, it says you need to correct something–you could go ahead and correct that information by logging back into the FAFSA site and clicking on the Make Corrections button. The corrections will be processed and sent to the schools you chose.

Some FAFSAs are selected for a process known as Verification. This means you would have to submit additional documents to verify that some of the information on your FAFSA is correct. Don’t freak if this occurs–it’s often just a random selection and doesn’t necessarily mean there’s anything wrong. Verification usually requires no more than a tax transcript and a short verification worksheet, but your financial aid office may request other items as well. Most schools have a deadline for completing verification, so make sure you get your materials in on time. If you can’t, give them a call and ask for an extension.

Your financial aid office will use your FAFSA to calculate an award package for you. This will include some level of student loans and possibly some federal grant money (depending on your EFC). It may also include some state grants, or some institutional grants or scholarships offered by the school itself. It may take a few days or a couple of months for the school to send you information about your award package–each school handles this differently.

Once you have your award notice, many schools will require you to notify them which parts you are accepting or declining. For example, you may choose to accept the entire package, or you could choose to accept all of the grants, but only part of the loans, etc. Some schools will automatically assume you accept unless you actually send them written notice, so be careful to follow the directions. If you are accepting federal loans, you will have to complete a Master Promissory Note (MPN) and an entrance counseling session. Most schools have you do this online, but some will ask you to come into the office. Again, if you want the aid, make sure you follow the directions.

If you have any questions, call the financial aid office at your school and they will be happy to let you know what you need to do.

Michelle answers:

There is a question on the FAFSA which asks if you have already filed, will file, or are not required to file a tax return. Just mark the appropriate answer (will not file).

Michelle answers:

FAFSA is a clearinghouse that stores all your financial information and your family’s financial information. They come up with a bottom line (your EFC, or Expected Family Contribution) that all U.S. Colleges will use when they’re putting together your financial aid package.

I don’t exactly know how that works when you’re applying to an international school, but if you’re going to be applying to any U.S. Sources for loans, that’s definitely one of the ways they’ll check out your financial situation to see what you’re going to need.

Michelle answers:

You only fill out the FAFSA firm once and there s a place where you list all of the colleges you are applying to. It’s then sent to the financial aid office or those colleges to crunch the numbers. Check out this site for a great FAFSA breakdown that is really helpful and informative
http://www.celebrationideasonline.com/student-fafsa-application.html