Palmer Trinity School

P A L M E R T R I N I T Y S C H O O L C O L L E G E H A N D B O O K / 2 0 2 3 - 2 0 2 4 24 your figures as closely as possible for the current year. You will have the opportunity to correct the figures later when you know the exact amounts (See #7 below). Consult the Financial Aid offices at the colleges concerned if you need to consider this option. Keep a copy of all forms for your records. 6. e FAFSA allows you to list only twenty colleges. 7. Within four weeks (at the latest) of receiving your form, you will receive a Student Aid Report (SAR) through the email account you used to register for the FAFSA. e SAR will either request further information, such as tax information from your completed tax return, or provide you with a figure called the Student Aid Index (SAI). Once you have received a final SAR, you can log in to look at the information, make corrections to it, and print a copy for your records. e information is automatically sent to the colleges you listed when you filled out the FAFSA online. 8. For questions regarding problems or difficulties using FAFSA on the Web, or specific questions about the FAFSA, call the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243) or 1-319-337-5665. If you do not get a SAR in four weeks, it is wise to call and check on your application. EARLY DECISION AND EARLY ACTION APPLICANTS Some colleges are reputed to save financial aid dollars by "under-funding" Early Decision applicants, on the theory that if they want to attend badly enough to apply ED, they will find the extra money. While it is true that an Early Decision applicant will not have the opportunity to compare financial aid offers from different institutions, we have found that usually these students receive adequate packages. Many selective colleges, including the Ivy League, have gone on record to say that early applicants receive that same treatment from the financial aid office as anyone else. It is important, however, to ask about ED financial aid policies if you will be applying for aid. If you do not get a straight answer, we will be happy to call the college. DIVORCED/SEPARATED PARENTS In the case of divorce or separation, the non-custodial parent is usually asked to file a supplementary form in addition to the FAFSA. Since colleges view financing a college education as a family affair, both parents need to provide as complete a financial picture as possible. UNDERSTANDING FINANCIAL AID AWARDS Financial aid letters may accompany letters of acceptance; often they are sent separately. When letters are sent early in the year, some colleges may not specify the exact amount of state and federal aid they are offering you, but rather an estimated award. You will receive exact figures in a later letter. Here are suggestions on how to read and respond to a financial aid letter: » Look at the combination of awards in the "package." As we have mentioned, it will consist of two types of aid: "gift aid" (such as grants that do not have to be repaid), and "self-help" (usually a combination of work and student loans). » In comparing your different packages, pay attention to two things: your net cost to attend each institution after financial aid, and the proportion of grants to loans. Do not be dazzled by the total amount of money a college offers you; focus on how much you will have to pay out of pocket, both as tuition expenses during your college years and as loan payments afterwards. » Look for special conditions or requirements attached to your awards. For instance, some institutions require financial aid recipients to maintain a certain grade-point average in order to continue receiving merit awards. » Be aware that most need-based awards involve federal money for both grants and loans. Financial aid administrators must adhere closely to Government guidelines in awarding federal dollars, and few colleges have enough to meet every applicant's full need. Even though your need is entirely legitimate, colleges may, for various reasons, award larger packages to other students.

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