Submitting your FAFSA, and CSS Profile, if required, is a huge milestone in the college financial aid process. For many families, hitting that “submit” button feels like crossing a finish line. However, it’s more like passing a major checkpoint, with several key steps still happening behind the scenes, and more to come in the future. If January and February feel quiet or uncertain, you’re not alone. This part of the process can feel confusing simply because so much of the work is happening out of sight and up until now, you’ve been the one doing all the work behind the scenes. Here’s what’s really going on after your financial aid forms are filed, and what you can expect next.
Behind the Scenes: What Happens After You Submit
Once your financial aid forms are submitted, you’ll receive confirmation that it’s been processed, along with a summary of the information you provided. This confirms that your application made it through the system successfully.
From there, the federal government calculates your Student Aid Index (SAI). This number is used by colleges as part of determining your eligibility for need-based financial aid and it plays an important role in shaping the aid you may be offered. For more information on the SAI, read my blog, Understanding the SAI.
After that, your information is sent to each college on your list. This is where the process becomes school-specific. Every financial aid office reviews applications individually and applies their own institutional policies, funding availability, and deadlines. This means timelines and award amounts can vary significantly from one school to another.
The Importance of Student Portals
While you are in this waiting period and much of the work is happening on the schools’ end, communication often happens through student portals. Schools don’t always send emails for every update, which is why portal checks are so important. In this phase, checking portals about once a week is ideal. It’s frequent enough to catch issues quickly without creating unnecessary stress.
What About Verification?
Some families may be selected for financial aid verification. While the word can sound intimidating, verification is a routine and common part of the process. It does not mean a mistake was made.
Verification typically involves submitting documents you already have, such as tax forms or household information. If you receive a verification request, responding promptly is most important so that your financial aid award isn’t delayed.
When Financial Aid Award Letters Arrive
Once schools complete their reviews, they’ll begin releasing financial aid award letters. This is the moment you’ve been waiting for! These award letters outline what each school is offering in grants, scholarships, work-study, and loans.
It’s very normal for offers to look different from one school to another, even between schools with similar tuition. That’s because each school has its own funding, formulas they use to calculate aid needs, and priorities.
When award letters arrive, families should focus on understanding the true net cost at each school, not just the sticker price. This is where thoughtful comparison and planning become especially important. This means looking at the total cost of attendance, which includes everything from tuition to supplies to housing and meals. Once you have that amount, subtract your grants, scholarships, or any savings your family plans to use. The amount left is your estimated out-of-pocket cost for the year. This is the most important number to focus on, not just the total aid amount listed in the award. This number is what you’ll need to cover the rest of the college cost.
What You Should Be Doing Right Now
While it feels like everything came to a screeching halt once you submitted, just know there will be more things to do in the near future, as your FAFSA submission was just a checkpoint in the journey. While you wait for communication and information from schools use this time to relax while also managing a few things behind the scenes yourself to make sure nothing goes under the radar.
The first thing is to continue to check portals weekly for any notifications. Then, if you see something, respond as quickly as possible, especially if it is a verification request. This is also a great time to organize files, documents, and emails related to your financial aid, and continue to search for scholarship opportunities.
Submitting financial aid forms is a major step, but it’s not the end of the process. The weeks that follow are just as important, even though they look different from the active application phase.
More about Jodi Okun of College Financial Aid Advisors
Jodi helps with the financial aid process, from completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.