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When will I RECEIVE MY fafsa MONEY??

BrooklynsMVPBrooklynsMVP Posts: 16Registered User New Member
edited September 2009 in Financial Aid & Scholarships
I came back from vacation and i found out that my fafsa 2009-2010 was not sent or saved, so i had to fill out my fafsa again. Date Application Completed: 09/03/2009 , Processed Date: 09/04/2009 if i just filled it out a few weeks ago when will i be receiving the money. Please estimate.
Post edited by BrooklynsMVP on

Replies to: When will I RECEIVE MY fafsa MONEY??

  • thumper1thumper1 Posts: 34,900Registered User Senior Member
    Well...first of all, you won't get any "fafsa money". The money comes from the colleges or from the federal government. If you just completed your form, you probably have missed out on limited fund monies (Perkins loans, and some others that are first come/first served and are likely all dispersed). However, if you are eligible for the Pell grant, you will get that...eventually. You will also be eligible for some kind of Stafford loan.

    If your school uses the FAFSA ONLY (doesn't have its own form or requires the PROFILE for financial aid awards), it is quite possible that you have missed out on any institutional (money from the college itself) money for this year. Simply put...if you just filed your FAFSA, you missed the deadline for financial aid applications for this year at your school.

    The best way to find out WHEN you will receive whatever it is you think you will receive...is to call the financial aid office. They will be able to tell you how long it will take them to process your financial aid application.
  • J'adoubeJ'adoube Posts: 2,043Registered User Senior Member
    Are you a student or parent?
  • swimcatsmomswimcatsmom Posts: 14,937Registered User Senior Member
    You need to talk to your financial aid office at your school to see if you will be receiving aid and, if so, when. Only they can tell you how long they take to process it. Every school is different so there is no way anyone here can give you an estimate.

    When you submitted your FAFSA you should have received an EFC estimate. This is the number the school will use to calculate your need (if any, not everyone is eligible). Whether you will be receiving aid will depend on the EFC and the schools COA and their aid policies. You will probably be too late for any aid that is limited in funding. If your EFC is low enough (below 4619) you would still be eligible for the Pell. And you should be eligible for Stafford loans (max for a freshman is $5500). You also need to ask your school if there is any other paperwork you need to do. Any aid you are eligible for will be paid direct to the school. If there is any left after your direct expenses are paid then the school will pay that to you. When will depend on the school.

    How is your current bill being paid? Have you started classes without knowing what, if any, aid you will be receiving? Hopefully you have a plan for how to pay your expenses if you find you are not eligible for enough aid to cover them all.
  • jerzgrlmomjerzgrlmom Posts: 1,245Registered User Senior Member
    I saw on a previous post that your HS guidance office hasn't been too helpful in answering your questions. I'm not sure if you understand how Financial Aid works. If not, I suggest you go to your college's website and find the financial aid page. It should give you some background on what you are expected to do and when. Then call the school and explain your situation. Are you attending a community college? I'm not sure if the procedure is the same, but usually you can't attend classes unless your bill is paid. Don't delay.

    Filing FAFSA is just the first step to obtaining aid. Did you put your school's code on the FAFSA when you filed it so that the results go to your school? After it was completed, you should have received a SAR? Did you look at the FAFSA to see what your EFC is? Did you keep a copy? If you did it online, you should still be able to access the information and print yourself a copy.

    You also need to apply for financial aid directly through your school. Did you do that? Some schools require additional financial aid forms. There are deadlines for applying and this is very late. If your FAFSA EFC is very low (approx $4000 or less), you should qualify for some Federal grant money (Pell). You should also qualify for Fed loans. Schools sometimes award additional funds/loans but you most likely missed their deadlines so their $ may be already given out.

    You MUST contact your school's financial aid dept ASAP. If you receive loan offers, you will need to go through a process to get the loan $. Nothing is automatic so keep on top of this.
  • sybbie719sybbie719 Posts: 16,630Super Moderator Senior Member
    I see that you are attending CUNY.

    Did you also apply for TAP as you must apply for this to receive state aid.

    If not you may not have any money coming back depending on what was your FAFSA EFC.

    I would suggest filling out your TAP application ASAP.

    https://www.tapweb.org/totw/

    Once your credits are applied to your account, then you will receive a refund. Since you were late applying, you will probably get any refund you have coming at a later date.
  • swimcatsmomswimcatsmom Posts: 14,937Registered User Senior Member
    Continuing on the theme of how FA works. After you submit FAFSA and the school receives your EFC they use the EFC and your COA to determine your need. Then they put together a financial aid award. It may include grant money (if your EFC is very low), loans, Work Study etc. It may or may not meet full need. This is sent to you as a financial aid offer. This can be in the form of a letter, this is the case at my son's school, or all online, the case at my daughter's school. You accept or turn down the FA offer (usually you can accept parts and turn down parts). Loans then have additional steps you have to take.

    All this is generally done before you start classes so that you know if you can afford the school. You don't want to be in the situation where you start classes and the add/drop period has passed and then find out you cannot pay the bill. If this happens you will not be able to enroll in any classes for next semester and will not be able to go to any other school until the bill is paid. Some schools will drop you from the classes if your bill is not paid. I don't know the calender for your school (mine have been in school for several weeks already) but please go and talk to your FA office ASAP to make sure you will be able to pay once your FA comes through.
  • mom2collegekidsmom2collegekids Posts: 59,741Registered User Senior Member
    So, are you saying that you first submitted a FAFSA last winter/spring (early 2009) and it was somehow lost/not submitted.

    And, the others are right...FAFSA doesn't "give" money...and you may be too late for money this semester, unless you qualify for some subsidized student loans.

    BTW...what have you used so far to pay for this semester's tuition/costs???
  • BrooklynsMVPBrooklynsMVP Posts: 16Registered User New Member
    Based on your EFC of 00000, you appear to be eligible to receive a Federal Pell Grant of up to $5350 for the 2009-2010 school year.
  • BrooklynsMVPBrooklynsMVP Posts: 16Registered User New Member
    Based on your EFC of 00000, you appear to be eligible to receive a Federal Pell Grant of up to $5350 for the 2009-2010 school year. this is what they wrote this is a good thing right?
  • mom2collegekidsmom2collegekids Posts: 59,741Registered User Senior Member
    When did you get that response? Sounds good if you just got that info.
  • kelsmomkelsmom Posts: 12,461Super Moderator Senior Member
    That's the response on a processed SAR (Student Aid Report). That comes from the central processor.

    Did you have an asterisk (*) next to your EFC - and a note saying your school may request verification documents? If not, you MAY not get verified (although the school CAN select you for verification, anyway). If you did get a *, watch your school email/student portal for requests for additional documents for verification. Even if you are selected, the school may not choose to verify you ... but you need to be watching, in case the school needs info.

    If the school does not opt to verify your file, your aid will be processed relatively quickly & your awards will be offered to you. Your Pell may pay out automatically without you needing to accept it (that varies by school).
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