Financial aid year
Financial Aid Process starts with the start of Financial Aid Year. Financial Aid Year starts with building a Financial Aid Record of that specific year. The term Financial Aid Year includes the Fall term of one year and the Spring and Summer terms of the year.
The Financial Aid Year schedule will be like this:
You can start your application process on the date of January 1. Many of the scholarships also start Financial Aid Application process in the month of January.
The student will get Student Aid Report" (SAR) which is a confirmation of FASFA. If you want to make any changes, please contact the college Financial Aid Office for further assistance. Most of the college will be having FASFA deadlines of state aid by March 1. So be applying before the deadline.
Most of the schools start the wards distribution in the month of March only. The applicant will receive the Financial Aid Package information from the financial aid office within the details of different Financial Aid Programs. Financial Aid meets the all educational costs of tution, fees, mess and boarding.
Remember to file your IRS federal income tax return no later than April 15. Even though it's not strictly financial aid related, any tax penalties or taxes owed can wreak havoc on financial aid the following year, so be sure to stay on the good side of the IRS by filing a tax return. Even if you don't need to file a tax return, it doesn't hurt to do so - in 2006, anyone filing an income tax return qualified for the telephone excise tax refund, no matter whether you owed taxes or not.
Students who are about to complete their graduation can file for the next year financial aid or search for the eligible Financial Aid, scholarships, and grants during the summer.
June is the time to search for the internships or part time jobs to pay the part of the financial aid for the following year.
July is the time for the students prefers to take summer courses in the beginning of the summer semester I. New interest rates and fee rates will be effective from the date of July 1 of every year.
Stafford federal student loan applicants need to fill an online form of Entrance counseling session.
This is the time for beginning of schools and colleges. And be ensure, all the applied loans in process are disbursed or not. If you find deficit of Financial Aid with the issued amount, apply for private student loans in time.
October is the month to file the college admission
Students who have finished their graduation and not merged their student loans can advance at the end of grace periods. Students can also earn private scholarships in this month by writing scholarship essays.
This is the time to collect your tax receipts, pay stubs, etc. And file your FAFSA to apply on January.