How to Read a Student Aid Report

After all the crazy paperwork involved in filling out your Free Application for Federal Student Aid (FAFSA), you're finally holding the results of you application in your hand. The only problem is that your Student Aid Report (SAR) is quite a mess as far as understanding what it is telling you is concerned. You've worked hard to get where you are, so don't let a little piece of paper intimidate you. Rise to the challenge of deciphering your first piece of important documentation for your education.

Instructions

Difficulty: Easy

1. Access your SAR via the FAFSA website (see Resources below). You will need a Federal Student Aid PIN to do so. If you do not have one, you may apply for one on this page.
2. Locate your Expected Family Contribution number. It is located on the first page of your Student Aid Report. The Expected Family Contribution number is the estimated amount that your family should be able to contribute to your educational expenses.
3. Evaluate your Expected Family Contribution number. If this number is relatively low, you are more likely to get federal financial aid as well as institutional financial aid from your school. The higher the number, the more you'll be footing the bill on your own.
4. Read your Student Aid Report carefully and report back to your financial advisor or directly to the Education Department if any of your information seems incorrect.
5. Read over your Student Aid Report to locate any telltale signs that indicate your application needs more verification to determine your eligibility for federal financial aid. Clues include an asterisk at the end of your Expected Family Contribution number, instructions on your next task and a message that lists the various financial documents that you will need to submit to your college or university. Read this list very carefully, and take all of these documents to your school.
6. Allow your school to verify your information again before it extends a formal offer of federal financial aid. Once it is verified, your school can accurately determine the amount and nature of your financial aid, depending on your Expected Family Contribution number and other important factors.

Tips & Warnings

• There are options if you have a high family income that is making it difficult to get federal grants. Consider loans that don't require a high level of financial need as well as academic-based grants and scholarships.

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