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"When will I know how much financial aid I qualify for?"
About 4 to 6 weeks after you mail the FAFSA to the processor (the U.S. Department of Education), they will mail you a Student Aid Report (SAR). The SAR can be used to make any corrections to your financial aid application. Also, the schools you identified on the FAFSA will need the SAR before they can prepare a financial aid package for you. This package will indicate what aid you can expect from their institution. Federal loans and programs are listed on this report.
Contact the financial aid office at the school to determine what documents
(if any) they will need in addition to the SAR. Upon receiving complete
financial data, the school will send you an "Award Letter." Respond
immediately to the Award Letter and indicate either acceptance or denial
of the package.
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