Financial Aid timeline

Whether your student is a junior or senior in high school, it’s a good time to assess your family’s plan for meeting college costs.

The following month-by-month calendar will guide your student through important financial aid deadlines and priorities.

January
Seniors: Complete your tax returns in preparation for completing the Free Application for Federal Student Aid (FAFSA). Once all tax returns are filed, you should complete and submit your FAFSA as soon after Jan. 1 as possible. You can fill it out online at www.fafsa.ed.gov or get a paper copy from your guidance counselor. Check with prospective colleges about additional financial aid forms you may need to submit.

Juniors: Contact the admissions and financial aid offices at colleges in which you’re interested to get information on admission, scholarships and financial aid.

February
Seniors: Fill out and submit the financial aid forms required by the colleges to which you’ve applied. Check with your guidance counselor for any updated scholarship information, and contact any organizations that have not yet responded to your submitted scholarship applications.

Juniors: It’s never too early to start looking for scholarships. Start your search by surfing the Internet; www.fastweb.org and www.wiredscholar.com are good places to start. Also check with your high school guidance counselor for scholarship opportunities.

March
Seniors: Review your Student Aid Report (SAR) for accuracy and to make any necessary changes. If you have not received your SAR four to six weeks after completion of your FAFSA, call the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243) or visit www.fafsa.ed.gov. Follow up with your prospective college’s financial aid office to make sure they have received all necessary paperwork.

Juniors: Keep working on your grades. They will be scrutinized during the college admission process as well as on scholarship applications.

April
Seniors: Watch the mail for financial aid award letters. Determine the package that best meets your needs. Also watch for response deadlines—you may be required to sign and return a copy of your financial aid award letter in order to receive financial aid.
Juniors: Open a savings account if you don’t already have one.
Juniors and seniors: Start looking for summer employment. Money from a summer job can help cover your college expenses.

May
Seniors: If student loans are part of your award package and you need them to cover college costs, discuss that option with your family. Check with your college’s financial aid office prior to filling out and submitting your loan application(s) so that you can follow their preferred process. Continue to follow up on pending scholarship applications.
Juniors: If you are pursuing a military academy appointment, initiate contact with your congressperson.

June

Seniors: Follow up on grants or other funding you have been awarded.
Juniors: Start thinking about college expenditures, and discuss a budget with your family.
Juniors and seniors: Work hard at your summer job, and save money for college!

July
Seniors: During your summer break, keep searching for scholarships. Visit your local public library, high school guidance counselor and college financial aid office to investigate scholarships offered by local businesses, your place of employment and community and civic organizations.
Juniors: Complete any scholarship applications that have a fall deadline.

August
Seniors: Male seniors must register with the Selective Service upon turning 18. You can automatically register when you complete the FAFSA.

September
Seniors: Start budgeting for college costs, and keep searching for scholarship opportunities.

October
Seniors: Keep up your grades. Colleges and scholarship organizations will base their decisions on your grades during all your time in high school.
Juniors and seniors: Attend college fairs, financial aid nights and college-planning workshops.

November
Seniors: Obtain financial aid information from each prospective college’s financial aid office on your list and check financial aid priority deadlines. Missing a deadline can mean missing out on grants and scholarships.
Juniors: Look into federal and state programs available to help you pay for college.

December
Seniors: Work with your guidance counselor to uncover additional sources of financial aid. Keep applying for local, private and college scholarships and grants. Start collecting the following financial records to complete financial aid forms: W-2 forms, bank statements and records of benefits from the Social Security Administration, Department of Veteran’s Affairs and other agencies.

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