Question : How long after your fafsa application is processed do you actually get the money for school?
Im wondering if i fill out the fafsa it takes two weeks to process application. How long do i have to wait for the money for school? How does it work?
- asked by haley h
All Answers:
Answer #1
The money will be disbursed to the school shortlybefore classes start. So, if you filled out the2010-2011 fafsa for the fall semester (of 2010),then the money will be sent to the school about aweek before classes start. You will receive anyrefund (if there is one) 2-4 weeks after thesemester/quarter starts.
- answered by spalmer
Answer #2
This was my experience.Did FAFSA, processed 1 daylater, my school got it a few days later, theyasked for verification, I printed out theDependent Verification form I was asked to fillout and attach my parents IRS tax form 2009, Igave it to my Financial Aid Office personallyhowever you can mail this if you are too far away,THREE weeks later, it verified and has "satisfiedrequirements and processed", so my status says inmy schools website. Now, you will receive themoney shortly before classes start. What happensis, they need to determine how much you need so inorder to do that, they have to see how manyclasses you are signed up for, and estimate whatyou'd need for books etc. However, for the cost oftuition, you don't get the money, the school does.For books however, you get a check in the mail.Ifthere's any money left back, you keep it. :D
- answered by Disco Stick
Answer #3
It depends on the school you are going to. If youare going to a University, State, or communitycollege you can get it about 1 week before schoolstarts to buy books. Your tuition costs will beautomatically deducted unless you have a Bord ofGovernors Fee Waiver which is for communitycollege. Some colleges will disburse in 2 paymentsin which you will get in the beginning and onetowards the middle of the semester, they want tomake sure you stay in your classes. You have tomake sure that you have filed all the paper workto before you will have a chance to see any of themoney. Like previously stated if you have beenselected for Verification you will need tax copiessent to the office and if you are a dependentstudent you will need your parents taxes too. Ifyou get all the paper work in on time then youwill get the money as soon as the school doestheir disbursements if not then you will get itonce they paper work is processed once thesemester starts.
- answered by pelmel
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