How is the Aid Awarded

After you receive the SAR, and according to the schools which you have listed, the schools will receive your FAFSA information which will help them establish a financial package which will also include an aid from one of the major sources – state, college, private or federal. Also, the package will contain a combination of a grant, loan or a campus job. Now, campus job and loan form what is called self-help aid, because they require efforts by the students themselves.

The responsibilities do not end as soon as you receive your aid. You will have to be aware about various clauses that come along with the package. For instance, you will have to be aware of the interest rates, or the repayment terms. If you are part of the campus job grant, make sure you know about the hours per day, or hours per week that should be invested. Generally, along with the grant there will an enclosure explaining these queries; if however you do not find it, make it a point to ask the financial aid office.