Because many people are applying for financial aid. But here’s a rough breakdown of the steps and the approximate timeframe for each: For you to receive your SAR after you have submitted your application online (Free Application for Federal Student Aid): 2 to 4 weeks; For COA to process your...
How long does it take from the time I complete my FAFSA (Free Application for Federal Student Aid) to when I receive my first check?
It may take at least 4-8 weeks.
If I am living away from my parents, am I considered to be “independent?”
Not necessarily. Applicants for Federal Financial Aid (below the age of 24) are considered to be dependents, unless they are married, a veteran, an orphan, a ward of the court, or have dependents (usually children).
How much money can I get if I apply for Financial Aid?
It depends upon your family’s situation. The maximum Pell Grant would be $5,815 per year. The maximum Subsidized Stafford Loan for a first year dependent student is $3,500. Work-study allocations usually begin at $3,800 per year.
If I’m eligible for Financial Aid, how often will I receive money?
Generally, grant recipients receive two checks a semester. One check comes at the beginning of the term and one check comes at the middle of the term. Loan recipients usually get two checks a year: one in Fall and one in Spring. College Work-Study students get one paycheck a month.
Do I have to go to school full-time to receive Federal Financial Aid?
No. You will be eligible for most Federal Financial Aid if you attend school half-time. However, with the Pell and SEOG Grants, your awards will be larger if you attend full-time.