02.09.07 | Time Flies…But it’s almost Stafford time!
By now, everyone should be into FAFSA mode - if you haven’t thought about it, start ASAP (as in, start yesterday) - you might find a March 1 deadline looming.
I like to give the best instructions on what steps to follow to optimize the financial aid process and not make it such a stress. Typically, you file a FAFSA, request it be sent to your school(s) of choice and wait for an award letter. Once that award letter arrives and you accept it, you apply for the Stafford…and then Grad PLUS funds, scholarships, alternative funding (private loans), etc.
In reality, I am a planner and I know many of you are too. You MAY apply for the Stafford whenever you want - but as long as it is in advance of your school’s deadline, don’t expect time to get you the funds any sooner. For a fall semester start date, schools tend to certify in late July, August, and into September. So, you may apply now, and if you do, I applaud you for being on the ball - so many wait too long and end up scrambling at the last minute. But, the downside is, your school might not certify it…just yet.
Hello,
I am an undergraduate student who will graduate in the spring of 2008 of May. I have found a college that I want to apply to and was wondering how I change my Federal Aid from undergraduate school to the graduate school of which I am applying for the fall 2008 year. I am not sure if I am supposed to call Federal Aid office or just put the new college when accepted on the Federal Aid application? Any help would be greatly appreciated. Thank You!
Kind Regards,
Karen L. McCune
March 1st, 2007 | #
Hello Karen,
This is a great question and we get it often. You can’t “transfer” your Federal aid from school to school. Each year, you must fill out a FAFSA form - check out http://www.FAFSAOnline.com for tips and a link to the US Dept of Education online FAFSA application. The FAFSA gets sent to whatever schools you list on it and they will then send you an award letter informing you of what you have been granted in terms of financial aid. At that point, you may apply for the Stafford loan- http://www.GradLoans.com offers both Stafford loans and private loans. Hope this helps. Best of luck!
March 1st, 2007 | #
I am wanting to start graduate school in june of this summer. I feel like I should be in a hurry to get what loan is necessary for summer classes! What do I do? I have done my FAFSA and that’s it so far. Do I need to do another FAFSA for the fall/spring as well? What loans are best to take out for these?
thanks!
nichole
March 5th, 2007 | #