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my daughter got a letter from her school yesterday saying theyre extending all financial aid deadlines by 6 weeks because of the fafsa mess. might be worth checking if your schools are doing the same thing?
Update: Just got an email from my son's school confirming what the FA office told me on the phone. They're extending all financial aid deadlines by 4 weeks and pushing back the deposit deadline until June 1st. Check your emails everyone! Schools seem to be sending out updates.
I'm confused about something - is the $20k all loans or is some of it grants? Because loans aren't really "aid" if you have to pay them back with interest...
Good question - it's mostly unsubsidized loans (about $17,500) and then a $2,500 departmental grant. I know the loans aren't free money, but I'm still counting on that eligibility to help me get through the program!
One more thing to consider - make sure you're on top of your program's Satisfactory Academic Progress (SAP) requirements. Even if your financial situation stays exactly the same, failing to meet SAP standards can result in loss of aid eligibility. For most grad programs this means maintaining a minimum GPA (usually 3.0) and completing a certain percentage of attempted credits. Your academic performance matters for continued aid eligibility!
Thank you! I'll definitely prepare all my documents. I was planning to fix my parents' contribution to their retirement accounts and some income from a small business we have. I'll have everything ready to go as soon as the system opens.
Update to my earlier comment - I forgot to mention that after you complete your portion as a contributor, your son will need to log back into his account and submit the final application. Many families miss this step and think the application is complete after the parent finishes their part, but it's not!
To answer your question about processing time: once all contributors have completed their sections and the student submits the final application, the initial SAI (Student Aid Index) calculation typically takes 3-5 business days. However, during peak periods (January-March), it can take up to 2 weeks. For state grant deadlines, most states consider the application "submitted" once the final submission is complete, even if the federal processing is still ongoing.
Khalid Howes
Great news! These small data mismatches are extremely common with the new FAFSA system. Glad you got it resolved in time for your daughter's priority deadline.
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Ben Cooper
So glad it worked out! It's amazing how something so small can cause such a huge problem. The same thing happened to me - my name had a hyphen in the FSA ID system but not on the form itself.
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