Applying for Aid

Step 1: Apply for a PIN.
Step 2: Submit the FAFSA.
Step 3: Submit the CSS/PROFILE and other financial aid forms, if applicable.
Step 4: Review your Student Aid Report (SAR).
Step 5: Review your award letters.
Step 6: Apply for loans, if necessary.

Step 1: Apply for a PIN.

Apply for a PIN at www.pin.ed.gov. Your PIN will enable you to “sign” documents electronically, access your Student Aid Report (SAR) online and make corrections to your FAFSA through the web. Both the parent and student must each apply for a PIN.

Step 2: Submit the FAFSA.

You should file the Free Application for Federal Student Aid (FAFSA) as soon after January 1 as possible. The FAFSA is used by all colleges to determine your Expected Family Contribution (EFC) and your eligibility for federal and state aid, including subsidized student loans. Most colleges also use the FAFSA to determine your eligibility for institutional aid.

The FAFSA cannot be filed until after January 1st, but it must be completed and received prior to the college’s priority deadline date. The FAFSA must be filed for every year the student is in school. There are two ways to submit your FAFSA, online at fafsa.ed.gov or by paper application. Filing online is the best way as it is quicker and checks for errors as you complete the application. A FAFSA requires a signature from both a parent and the student applicant. To sign the on-line application, you must use your PIN (see Step 1).

Families are encouraged to file the FAFSA early even if they do not have all the necessary tax information required for the form. If necessary, this information can be estimated. You will have the opportunity to change or update information later in the financial aid process.

There is no fee involved in filing the FAFSA and all families are encouraged to apply regardless of their family circumstances. While the FAFSA form may seem long and complicated to fill out, help is available through the College Planning Center of RI. Call today to make an appointment at one of our convenient locations.

Step 3: Submit the CSS/PROFILE and other financial aid forms, if applicable.

Some private independent colleges require you to file a CSS/PROFILE application or an institutional financial aid form to determine your eligibility for their own sources of financial aid. The PROFILE application can be completed as early as October and is only available online here. Make sure you understand if you need to file any additional forms and that you submit them by the school’s specified deadline.

Step 4: Review your Student Aid Report (SAR).

Approximately one month after filing the FAFSA, you will receive a Student Aid Report (SAR). Correct any mistakes on this form, update any changes in financial circumstances or add additional colleges where you would like your information to be sent.

The EFC information from on your SAR will be sent to the financial aid office at the colleges that you indicated on your FAFSA form. Each college then takes that amount and subtracts the EFC from their total cost of attendance. That figure is your family's demonstrated financial need for that particular college. Financial need will be different for each college you apply to because each college's total cost of education is different.

Step 5: Review your award letters.

Each college's financial aid office then determines what aid it has available to help meet your demonstrated financial need. Schools will aim to meet as much of your need as possible but not all schools can afford to meet 100% of your financial need. The financial aid office will put together a financial aid package or award letter for you. The aid may come in the form of grants, work study, scholarships, federal student loans and so on.

Remember, when your financial aid package arrives in the mail, read it over carefully. Decide if you want to accept any of or the entire award. Pay attention to instructions the school gives you. You may have to complete additional paperwork to fully accept the award. Accepting your award by the school’s specified deadline will safeguard it. However, if you feel that the award does not fully meet your financial needs or your needs have changed due to illness, unemployment or for some other reason, you can try appealing the award. Make sure to have documentation that supports your request. Many schools will take a second look at your package, if asked.

If you receive multiple financial aid packages, take note of which expenses are included in each school’s total cost of attendance when you compare. Also, pay attention to what kind of aid each school is offering your family. One school might meet a higher percentage of your need, but may do so with a greater proportion of loans. Often times, a school with a higher cost of attendance could end up costing your family less in the long run.

Your financial aid package may or may not cover your total financial need. If financial need is not entirely met, this unmet need is called a "gap." This means that resources must be found in order to meet the full cost of education. In many cases this will mean additional student and parent loans. Use our meeting college costs calculator to figure our how you will meet the difference.

Step 6: Apply for loans, if necessary.

If you are planning to take out federal student loans and your school is not part of the Federal Direct Lending Program, you will need to choose a student loan provider. You will also need to select a lender if you decide to take out a private student loan. You should always explore your federal student loan options before looking into private student loans. You can learn more about the different loan types here.

With your financial aid award letter, your school may have included a list of preferred lenders to assist you with the lender selection process. While financial aid offices typically recommend lenders based on loan terms and customer service, it pays to do some research before choosing a lender to make sure you are getting the best deal for you. By law, if your school participates in the Federal Family Education Loan (FFEL) Program, you have the right to choose your federal student loan lender – and it doesn’t have to be one on your school’s preferred list.