Fed Financial
How long does fafsa financial aid take to get approved.?
I would like to go to Full Sail School in Orlando. Does anyone know how long fafsa takes to get approved? Does fafsa offer personal loans?
Public Comments
- The finacial aid office should be able to tell you how it looks for you and give you a tentative award letter. Basically, its a letter showing what you could potentially qualify for based on what you submitted on your fafsa. After you submit your fafsa...and the school has your results in, I have seen 3 days to 7 days depending on if there are errors / issues with the fafsa. There are checks that happen when a fafsa is submitted such as Social Security Administration check, selective service match if you are male, etc. If there is an issue...then you may need to provide more information in order to resolve the issue. (I.E. Could not confirm that you are a US Citizen...would need to bring in proof). Another thing that can happen is the random selection that may happen called verification. All that means is that you will have to provide proof, tax return, of the information that you submitted on your fafsa. However, with all of this being said...if you speak with the financial aid officer you went to to get started...they should be able to put together an award letter to answer your questions.
- Here is a run-down of the FAFSA timeline: You will receive a response back from the processing center in approximately 2-3 weeks from the date that you file your FAFSA. This is called a Student Aid Report (SAR). If you provided an email address on your FAFSA, you will receive this notice by email instead. Your SAR will give you a copy of all the information you submitted on your FAFSA, your Expected Family Contribution (EFC) and comments. It also tells you if you are selected for verification. If you are not selected for verification or in need of any other institutional documentation, your school will usually complete your financial aid file within 5 business days of receiving your FAFSA. You will then be sent an award letter that tells you what awards are being offered as part of your award package, and the disbursement dates for each of your awards. The date of disbursement is going to vary from school to school as some schools disburse every week, some twice a month, and some only once a month. If you ARE selected for verification or need to submit any other documents requested by your school's financial aid office, be sure to do so immediately to ensure that your financial aid file is completed more quickly. Once all documents are submitted, your schools financial aid office will determine whether they need to make corrections to your FAFSA. If no corrections are necessary, your file will be complete and you will receive an award letter notifying you of your disbursement dates and amounts. If a correction is needed, the processing time may take a bit longer (this is why it's important to file your FAFSA accurately the first time!). All in all, it depends on when you complete your file at your school and how often your school disburses. Total time between the time you file and the time a check is in your hands is anywhere from 4-8 weeks depending on whether you are selected for verification, how quickly you submit required documents, and when your school disburses.
