I'm confused about how the FAFSA works. Will colleges receive my FAFSA information before it's officially processed, or does it need to be completed and processed first? Trying to get my financial aid figured out early!
Colleges will not receive your FAFSA information before it's processed. In fact, the Department of Education needs to process your FAFSA information first before it can be sent to the schools you listed in the form.
After you submit your FAFSA online, the processing time usually takes about three days. Once your information is processed, a Student Aid Report (SAR) is generated and sent to you, which summarizes the data you have provided. At the same time, this information is made available to the colleges you listed.
However, each individual college or university may have its own timeline for when they start accessing and reviewing this information for the purpose of determining your financial aid package. It typically aligns with their admissions process and when they start sending out acceptance letters.
So, in a nutshell, you'll need to ensure your FAFSA is submitted and processed first, and then colleges will be able to review your information and consider it as they construct your financial aid package. Just remember that financial aid availability can be first-come, first-served, so it's beneficial to submit your FAFSA as early as possible.
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