• 5 Steps
• What Is Financial Aid?
• The Application Process
• Where Aid Comes From
• Types of Financial Aid
• Who Is Eligible?
• Cost of Education
• Family Resources
• How To Apply
• Do You Have Enough?
• How To Reduce Unmet Need
• Links

How and When to Apply for Financial Aid

How Do You Apply?

The application process for financial aid is separate from the process of applying for admission to a college or university. To begin the process, a student must obtain the following:

• Free Application for Federal Student Aid (FAFSA): The FAFSA serves as the application for most federal student aid programs, as well as for the Maine State Grant Program (MSGP). All students who want to receive any type of financial aid must complete this form. Even if all you need is a student loan, you MUST complete the FAFSA form.
• Profile Form: The Profile form from the College Scholarship Service(CSS), is a supplemental financial aid form required by some colleges to determine a student's eligibility for their own institutional financial aid programs.
• Institutional Form: Some colleges have their own in-house financial aid form, again to help determine a students eligibility for their own institutional financial aid programs.

The FAFSA and the Profile form are available in the fall of each year at high schools and higher education institutions throughout the United States. Institutional Financial aid forms are available through the financial aid offices of the individual colleges.

Please check your college catalogs to determine which forms are required at the school(s) to which you are applying. Be sure to have all required forms completed.

When Do You Apply?

The Free Application for Federal Student Aid (FAFSA) cannot be submitted prior to January 1 of the year you plan to enroll in college. For planning purposes, it is helpful for students and parents to have their federal income tax returns completed as early in the year as possible. If it is not possible to complete your tax forms, please estimate your income and tax liability as closely as possible. You should not miss a financial aid deadline simply because your federal income tax forms have not been filed.

Each school will have their own deadline as to when they want all financial aid forms to be received at their financial aid office. Make sure you check with each school for their financial aid deadline, and have your paperwork in on time. Failure to meet all application deadlines may disqualify you for financial aid you are otherwise available to receive.

Hint: Once you have all the deadlines for the schools to which you are applying, pick the EARLIEST one, and use that as your own deadline for having all financial aid paperwork completed.

What Happens After You Apply?

The Free Application for Federal Aid (FAFSA) you completed is sent to a central processing agency. Once processed, the information obtained from the application will then be sent to the college(s) you selected and the Federal Pell Grant Program.

• The Student Aid Report: You will receive a Student Aid Report (SAR) from the processing agency within four to six weeks after they receive your FAFSA. The SAR is not a financial aid award letter. However, it is important because it allows you the opportunity to verify and correct the information you provided on your FAFSA. The SAR may also request that you provide additional information. When you receive your SAR please review carefully and follow all instructions. All changes and corrections are made on the SAR and sent back to the processor. If you do not receive a SAR within four to six weeks, or need another copy of the SAR, please call the Federal Student Aid Information Center 1-319-337-5665.