What does it mean to be "Awarded" Financial Aid?

My College has a chart that lists when you will receive aid. It states "If student is AWARDED before these dates" then according to the dates it shows judges when we will receive our grants. I submitted my FAFSA February 9, 2011 for the 2011-2012 school year (yes late i know! I just started in Spring 2012) And I was Emailed that my FAFSA had been processed February 10. I would just like to know what exactly "Awarded" means so i can see where on the chart i fall under. Helppp!

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  • anna
    Lv 7
    8 years ago
    Favorite Answer

    It simply means given to you. They are the ones who decide who gets financial aid and who doesn't on the basis of certain rules, so if you qualify and are chosen, you are "awarded" financial aid. The language used makes it sound like a big magnanimous favour on their part.

    Administration also speaks of "awarding" scholarships and grants-in-aid. It's just legalese.

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  • 8 years ago

    You'll have to wait until your college's financial aid department has received your FAFSA information (you did put the college code on the application, right?). Once they have your info, they'll put together an award package consisting of whatever federal, state, and institutional aid you're eligible for. They'll send you a letter listing what they're offering.

    You were really late submitting your FAFSA-- you should have done your 2011-2012 FAFSA around this time LAST year. Right now, colleges are super-busy processing the financial aid for incoming freshmen starting in the fall. It could be several weeks or more before you get your award, and you really don't have any right to complain about how long it takes. And because you were so late applying, available funds (especially the Pell grant and work-study) will be very limited. Contact your financial aid office for a better idea of what to expect.

    Oh, and if you plan on continuing college in the fall, you need to submit your 2012-2013 FAFSA immediately. That will be based on your/your parents' income tax info for 2011.

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  • PETA
    Lv 7
    8 years ago

    Once you submit the FAFSA, it takes a couple weeks if that for it to be processed (log it and it will say the status of your FAFSA). Then you wait up to 2 weeks and then your SAR report will be ready and you get an email and link to view and print that. The SAR will automatically be sent to all the colleges you listed on the FAFSA and hopefully you put the one you are now attending on there. That college will then create a financial aid award offer for you and you should get an email or snail mail to view it. Then you would view the types of aid offer and accept or deny them. If you agree to loans you would have to do online entrance counseling and sign up for an MPN. Then after you do all that you wait to get disbursed the funds into your college account and you have been awarded the funds. Call your financial aid office to ask questions. Also hopefully you did your FAFSA from 2012-2013. That should have been done way back in Jan to maximize your award. The award offers for fall will be sent out already early mid april.

    http://bellarminearc.wordpress.com/2011/01/10/file...

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  • 8 years ago

    in addition to processing your FAFSA

    have you done the Fin Aid paperwork at your school?

    If not, then you won't receive your Fin Aid Award letter

    so, you need to also apply at your school for Fin Aid (see your Fin Aid office)

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  • 8 years ago

    Ok, you can search it the answer from Google.com where you can find the solution of most of your problems.

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