Your FAFSA is processed, but you are not done yet

After you submit your FAFSA, the federal government processes it and sends your results to the schools you listed. You will receive a Student Aid Report (SAR) — either by email or through your FAFSA account — that shows what information the government received and calculated. This report does not mean you have been awarded money. It means the government has determined your Expected Family Contribution (EFC), now called your Student Aid Index (SAI). Each school then uses that number to build a financial aid package for you.

The schools you listed will send you a separate aid package, usually called an award letter or financial aid offer. This letter shows grants, loans, and work-study that the school is offering you. You do not automatically receive this money — you have to accept it, and you have to complete additional steps the school requires before funds are released.

Key Takeaways

  • Check your Student Aid Report for errors in income, family size, or other details, because mistakes delay aid and may reduce your package.
  • Each school sends its own award letter separately, and the amounts vary by school even though they all use your FAFSA results.
  • You must accept the aid offer and complete any additional documents the school requests before money is disbursed to your account.
  • Federal student loans require you to complete entrance counseling and sign a Master Promissory Note before the school can release the funds.
  • Aid is usually disbursed in two or more payments per term, not as a lump sum at the start of the semester.

Review your Student Aid Report for errors

The SAR is your chance to catch mistakes before they affect your aid. Log into your FAFSA account at studentaid.gov and look for the SAR link. Check that your income, family size, number of dependents, and citizenship status match what you reported. If you made an error, you can make corrections directly in your FAFSA account — you do not have to call anyone or fill out a separate form.

Common errors include listing the wrong number of family members, reporting income from the wrong tax year, or entering a Social Security number incorrectly. Even small mistakes can change your aid amount. If you find an error, correct it immediately. The school will receive the updated information and recalculate your aid package.

Understand what each school's award letter includes

Schools send award letters on their own schedule, usually between February and April. The letter shows how much aid the school is offering you based on your FAFSA results and the school's own funds. Award letters are not standardized — each school formats theirs differently, but all should show the total cost of attendance and break down grants, loans, and work-study separately.

Grants are money you do not repay. Federal loans must be repaid with interest after you leave school. Work-study is a job on campus where you earn money. Some schools also offer their own scholarships or institutional aid. The award letter shows what the school is offering, not what you must accept — you can decline loans or work-study if you do not want them.

Compare award letters from multiple schools side by side. The same student can receive very different packages from different schools, even though they all use the same FAFSA data. Look at the total amount of grants versus loans, because grants do not have to be repaid.

Complete any additional documents the school requires

After you receive an award letter, the school may ask you to submit additional paperwork before they release your aid. Common requests include verification of income, tax return copies, or proof of citizenship. The school will tell you in the award letter or through your student portal what documents they need and when they need them by.

If the school asks for verification, respond quickly. Schools have deadlines for receiving these documents, and if you miss the deadline, they may reduce or cancel your aid package. Keep copies of everything you send. If the school says they did not receive something, you will have proof that you submitted it.

Accept your aid and complete loan requirements

To receive federal loans, you must complete two steps: entrance counseling and sign the Master Promissory Note (MPN). Both are done online through studentaid.gov or through your school's financial aid portal. Entrance counseling explains how federal loans work, what your repayment options are, and what happens if you default. The MPN is the legal document that says you agree to repay the loan.

You only have to complete entrance counseling once in your life — if you have already done it for a previous loan, you do not repeat it. The MPN, however, may need to be signed again if you are borrowing from a different loan type or if your school requires a new one. Your school will tell you exactly what you need to do.

If you do not complete these steps, the school will not release your loan funds, even if you have been offered them. Some schools will not release any aid — including grants — until loan requirements are finished, so do this as soon as you receive the award letter.

Know when and how money reaches your account

Aid is not disbursed as a single payment. Schools typically disburse aid in two payments per term — one at the start of the fall semester and one at the start of the spring semester. Some schools disburse more frequently. The school's financial aid office will tell you the exact dates.

Money goes to your student account first, where it is applied to tuition, fees, and room and board if you live on campus. If there is money left over after those charges are paid, the school sends the remainder to you, usually by direct deposit to your bank account. This can take several days after the disbursement date. If you have questions about when your money will arrive, contact your school's financial aid office — they can tell you the exact date for your term.

What to do if you do not receive an award letter

If you submitted your FAFSA and listed a school, but you have not received an award letter after four to six weeks, contact the school's financial aid office directly. Ask whether they received your FAFSA results and whether there are any missing documents holding up your package.

Sometimes schools do not receive FAFSA data if you listed them incorrectly on your application — for example, if you misspelled the school name or used the wrong school code. The financial aid office can tell you whether they have your information and help you fix any problems. Do not wait — the sooner you contact them, the sooner they can process your aid.

Frequently Asked Questions

Can I change my FAFSA after I submit it?

Yes. Log into your FAFSA account at studentaid.gov and make corrections anytime. The government will recalculate your aid and send updated information to your schools. Schools will then recalculate your award letter based on the new information. Make changes as soon as you notice an error — the longer you wait, the less time schools have to update your package before the term starts.

What if my award letter shows less aid than I expected?

Contact the school's financial aid office and ask them to explain how they calculated your package. Ask whether the school has additional scholarships or grants you might be considered for. Some schools hold back aid for students who do not meet certain requirements, or they may have made an error. The office can review your specific situation and may be able to increase your package.

Do I have to accept all the loans the school offers?

No. You can accept grants and work-study but decline loans. You can also accept a smaller loan amount than the school offered. Contact your school's financial aid office to tell them which parts of the package you want to accept. They will update your aid and adjust what is disbursed to you.

What happens if I do not complete entrance counseling?

Your school will not release your federal loan funds until you complete it. Entrance counseling takes about 30 minutes and is done entirely online. You can do it anytime before your first day of class, but do not wait until the last minute — if the school does not receive confirmation that you finished, your loans will not disburse on time.

Can I use my financial aid to pay for things other than tuition?

Yes, but only for cost of attendance items the school lists in your award letter. These typically include tuition, fees, books, supplies, room and board, transportation, and personal expenses. You cannot use aid for things outside that list. If you have leftover aid after paying school charges, the school sends it to you as a refund, and you can use it for any cost of attendance item.