You've Submitted! What Happens Next?
The hard part is over. Here’s a breakdown of what to expect after your FAFSA form has been processed.
The FAFSA Submission Summary (FSS)
Within 3-5 days, your FAFSA will be processed and you will receive an email. Your FAFSA Submission Summary (FSS) will be available online. It shows all your answers, your calculated Student Aid Index (SAI), and an estimate of your federal aid eligibility. Review it for accuracy immediately.
Understanding Your Student Aid Index (SAI)
Your SAI is a number used by colleges to determine your financial need. It is NOT the amount of money you will have to pay. The formula considers income, assets, family size, and has allowances for taxes paid and living expenses. Unlike the old EFC, the number of family members in college is no longer a factor.
Making Corrections
If you find a mistake on your FAFSA after you've submitted it, don't worry. You can log back into your FAFSA on StudentAid.gov and select 'Make a Correction' to fix most errors. Common correctable errors include typos in your name or address, or incorrect financial information.
What if our financial situation has changed since 2023?
If your family has experienced a significant income drop (e.g., job loss, major medical expenses) since the 2023 tax year, you must contact each college's financial aid office directly after submitting your FAFSA. This is called a 'Professional Judgment' request.
Be prepared to provide documentation of the change in circumstances. This is a critical step that could significantly impact your aid eligibility.