Applying and Eligibility

1. Who should apply for financial aid?

Any student who believes that he or she may need assistance in meeting the cost of attending college should apply for financial aid.

2. My neighbor got more grants than I did. Why?

A student's eligibility for financial aid is based upon a number of factors, including the size of your family, how many members of the family are in college, and, of course, family resources (income and assets).

Even though your family's circumstances may appear to be very similar to your neighbor's, there may be substantial differences in the components used to calculate financial aid eligibility.

One of the most common differences is meeting deadlines, which could significantly impact the amount of grant aid for which you may be eligible.

3. If I don't qualify for need-based aid, what options are available?

If you are not eligible for need-based financial aid, many options are still available. One is to look for merit-based scholarships based on academic or other talents. Additionally, you may consider borrowing through the unsubsidized loan program or having your parents borrow through the PLUS program. Also, most colleges have student employment opportunities that are not based on financial need.

4. I probably don't qualify for aid because of family finances. Should I submit a FAFSA anyway?

If you believe you may need some assistance covering college costs, then yes, you should submit a FAFSA. The application is free and many campuses use it to assess your eligibility for some scholarships and non-need-based loans, including the unsubsidized and PLUS loans.

5. What is a FAFSA?

The FAFSA is the Free Application for Federal Student Aid. This is the application form that is required before you can receive any form of federal financial aid. You can use either the paper FAFSA or you can file on the Web electronically. The FAFSA asks several questions about family finances and you list your college choices.

You can get a copy of the FAFSA from any high school or college. Even if you won't be going to college for a while, you might want to get a FAFSA to see what types of questions are asked. If you are planning to go to college in the next academic year, get a FAFSA right away!

6. How do I get financial aid?

APPLY. The biggest mistake students make is not to apply because they don't think they'll qualify. To apply for federal, state and university financial aid programs, you need only complete the FAFSA and supply requested documents to the campus financial aid office.

Some private universities or colleges may require you to also submit a CSS PROFILE form. If you plan to attend a private institution please contact the financial aid office at that institution for more information. Some institutions may also request additional documents such as tax returns to complete your financial aid file so please respond immediately to all requests by the campus financial aid office.

7. What is a preliminary award letter?

For some students, financial aid plays a large part in deciding which college to attend. To assist in the decision process, some campuses will send out a preliminary award letter to let new students know approximately how much financial aid they may be eligible for at that campus. These letters are usually based on estimated information only, and the final award may change once the financial aid office reviews supporting documents.

8. Do I need to complete my income tax return before I complete the FAFSA?

No, you do not need to have completed your income tax return. While it is recommended that you complete your tax return prior to filling out your FAFSA, it is not essential. It is far more important that you meet the March 2 application deadline than it is that you complete tax returns first. You can fill out the FAFSA using estimated information from your final year end pay stub(s); however, take care in estimating your figures. Any large discrepancies between your FAFSA and your tax return may have a large impact on any preliminary financial aid award you receive.

9. What if I don't have my W-2s yet, and my parents' tax returns aren't completed?

Do not wait to file your FAFSA. It is very important to file early and to meet deadlines to get the best funding. Use pay stubs, last year's income records, checking account records or whatever you and your parents have to make your very best estimate and get the FAFSA in the mail (or sent through the Web). If you use estimated information, your financial aid eligibility may be revised once you update your income information.

10. How do I apply for a grant? For loans? For student employment?

By completing the FAFSA and supplying any other required documents to the financial aid office, you are considered for federal grant, work and loan programs, as well as most state and private programs. You don't have to file separate applications for each program.

In order to be considered for Cal Grant, as well as for some other funds, you will need to file your FAFSA by March 2 (prior to the year when you want to go to school) and you also have to file a "Cal Grant GPA Verification" by that deadline. Ask for help at any high school or college financial aid office.

Some programs may require additional paperwork. Be sure to complete all forms sent to you by the financial aid office.

11. I filled out the FAFSA. How and when do I find out the results?

Approximately four weeks after submitting your FAFSA, you should receive a Student Aid Report (SAR) from the FAFSA processor. The SAR will list all of the information you put on the FAFSA. You should review the information listed on the form to make sure it is correct and that all of the colleges you are interested in attending are listed on the form. If any information is not correct, you must return the form with the correct information. This information also is forwarded to the schools you indicated to receive copies of the information. Once the schools receive the information and verify it with any additional documents you submitted at their request, they will notify you of your aid eligibility.

12. I completed the FAFSA over a month ago, but I haven't received anything back. What should I do?

If you haven't received a Student Aid Report within 5 weeks of filing your FAFSA, you can call the federal processor at 800-4-FED-AID. You will need to provide your Social Security number and date of birth as verification. You also can write to:

Application and Pell Processing Systems Division
U.S. Department of Education
600 Independence Avenue, SW
Washington, DC 20202-5453

13. Once I'm in school, what happens if I have an emergency financial crisis?

Many schools have short-term emergency loan programs to assist students with cash-flow problems. Check with the financial aid office to see what alternatives are available.

14. What happens if I want to transfer from one school to another?

You need to apply for aid at the school where you plan to transfer.

15. What records should I keep?

You should keep a copy of all of the applications you file (the FAFSA and any scholarship or other applications), letters or notices you receive in response to the applications, and copies of all other documents you may submit to a financial aid office.