Help with FAFSA?? I'm so confused!!!!?

So I'm applying for financial aid from FAFSA, and I'm so lost! The school I want to go to (the Fashion Institute of Technology) says the deadline to get aid from the school is today (Feb. 15th), so I'm sending the application to FIT today. However, the FAFSA website says the online applications for aid for the 2009-2010 school year is June 30th 2010. So if FIT needs the application by today, what is the July 30th deadline for? Can I get money from both the school and my state (New York), and that's why the deadline is different? Because I've heard that you can get financial aid from the sate, rather than individual schools, but I can't figure out how and I'm so confused! So basically, what I want to know is, can I apply for financial aid from FIT AND from the the state separately? Is that why the deadline on the FAFSA website is different from the FIT deadline? I'm sorry if this question is hard to follow, but I'm very confused and I need help!!

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  • 1 decade ago
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    Cotourby:

    I'm glad to help, because you really are confused - in fact, you may have gotten yourself a little off course, and you might have some work to do.

    The FAFSA is the Free Application for Federal Student Aid. When you complete the FAFSA, you submit the information to the US Department of Education, NOT to the Fashion Institute of Technology. The Department of Education processes your FAFSA form, not the university.

    When the Department of Education receives your FAFSA, they will plug all of the information that you provided into a giant formula, and compute something known as your Expected Family Contribution (EFC) score. When you completed the FAFSA, Question 104 asked if you wanted the Department to forward your EFC score to any specific school - hopefully you indicated that you wanted your score sent to 002866, the federal school code for FIT.

    When the financial aid office at FIT receives your EFC score, they will use that score to determine your financial aid "need" - that's a measure of how much financial assistance you and your family will need to help you pay for this year's expenses at FIT. (You'll need to complete a new FAFSA next year, so that you can receive aid for the 2010-2011 academic year, and so on).

    Once your school has a sense of how much aid you will need, they will put together an aid package for you that tries, as best as they possibly can, to help you meet your "need". You will receive an "aid offer letter" from the school, which will explain what kinds of aid you qualify for, and just as importantly, the steps that you will need to take in order to accept and receive those funds. You'll get that letter a few weeks after you submit all of your financial aid materials.

    The deadline that you need to worry about is today's deadline - that's the so-called "priority aid deadline" at FIT. Each school establishes its own priority aid deadline, depending on their own processing needs. The priority aid deadline is the day that each school begins to actually process all of the financial aid applications for the upcoming school year. Starting on that day, FIT will begin to allocate their available financial aid funds to all of the students who qualified for aid.

    Some types of financial aid are pretty much "unlimited". Any student who qualifies for a Pell Grant will get one, regardless of when they apply. Other types of financial aid are awarded from a limited pool of funds. One example of this type of aid is the Federal Work Study Program. FIT receives a certain amount of money each year from the government to fund its Work-Study program for that year, and they distribute that money on priority deadline day. If you apply after the deadline, the chances are good that all of the money for that program has already been allocated - which means, of course, that you won't be considered for that type of financial aid.

    The June 30 FAFSA deadline is the last day that a financial aid applicant can use this year's FAFSA form. Students who are applying for summer school financial aid at the end of this coming academic year might need to use the form well into the early summer - but if you're looking for Fall and Spring semester aid, that particular deadline is of absolutely no interest to you.

    The State of New York offers a generous financial aid program that supplements the federal student aid program. New York residents qualify for both. If you want to be considered for New York's Tuition Assistance Program (TAP), you need to complete both the FAFSA form and an additional online TAP application, which can be found at the website of the organization that manages TAP for the state - the New York State Higher Education Services Corporation (HESC), which can be found here: http://www.hesc.com/Content.nsf/SFC/3/Apply_for_TA...

    The good news is that you have a little time yet to apply for TAP - the TAP deadline isn't until May 1st.

    What you need to do today is get your FAFSA submitted to the Department of Education, using the FAFSA website at http://www.fafsa.ed.gov/ . It's too late to submit a paper application and mail it - if you hope to beat FIT's financial aid deadlines - so you should have completed the online version of the FAFSA, and submitted it to the Department by today. It will take the Department a week or two to process - you can review the status of your processing by visiting the FAFSA site and clicking "Check Status" under the big orange "3" on the right hand side of the page.

    Good luck - I hope this helps you.

  • 1 decade ago

    ok. Some schools follow the federal deadline, some schools have no deadline (so the federal deadline becomes theres), others have their own deadline. Yes if you state offer state Aid, you have to fill out a separate form.

    ss

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