One of the questions we receive most often is: “Why didn’t I get more money for school?” It’s especially frustrating when you have no idea how a school decided on your aid offer. Hopefully, this information will shed some light on how schools calculate your financial aid.
It all starts when you submit your Free Application for Federal Student Aid (FAFSA®) form. Once we (Federal Student Aid) process your application (it takes about three days if you submitted it online), we make your information available to all of the schools you listed on it. Each school then uses your FAFSA information to determine how much aid you are eligible to receive at that school. Each school has its own schedule for awarding financial aid. You must check with each school to find out when you can expect to receive an aid offer.