Does applying earlier give you a boost?

kelsmom
Wed, 09 Oct 2024 15:53:50 +0000

Yes, this is correct. Schools receive a set amount of funding from the government, based on a number of factors (reported on annual FISAP reports). That pot of money is divvied up based on parameters set by the school. SEOG is supposed to be awarded to the neediest students - schools report on how much they award based on SAI categories. When schools award this money, they have to overaward, based on estimates of yield. It’s typically awarded at a particular point in time, which is why the financial aid priority deadline a school sets is important. Someone who applies after that is not guaranteed to receive all of the aid that they would have received had they applied by the priority deadline. FWS works the same way, although it’s not as strictly targeted to the neediest students. Schools have to kick in a matching amount for FWS (25% of total FWS spending). Schools will typically overaward, based on priority deadline … but they might also require that the student accept or reject the award by another, later deadline. And of course, the fact that a student receives and accepts a FWS award doesn’t mean that they will actually get a job … and if they do, there’s no guarantee that they will earn their full award.