Student Aid Report
Definition
The Student Aid Report (SAR) is a document a student receives after submitting the Free Application for Federal Student Aid (FAFSA), summarizing the information provided and indicating eligibility for federal student aid.
Detailed Explanation
The Student Aid Report is a comprehensive summary that provides feedback on the information submitted through the FAFSA. It includes the student's Student Aid Index (SAI), which is an index number colleges use to determine how much financial aid the student is eligible to receive.
The SAR also contains detailed information about the student's eligibility for different types of federal aid, such as grants, work-study programs, and loans. Additionally, the report highlights any issues or errors that need to be corrected in the FAFSA form.
Students typically receive their SAR within a few days to a few weeks after submitting their FAFSA, depending on whether it was filed electronically or on paper and if a valid email address was provided. The SAR is a crucial document for students and their families as it lays the groundwork for understanding the financial aid options available to them and planning their education financing accordingly.
Example
After completing the FAFSA online, a student receives an email link to their SAR, which shows an SAI of 1200. This information helps the student and their chosen colleges to determine the amount and types of federal student aid for which they qualify.
Key Articles Related To Student Aid Report
Related Terms
Student Aid Index (SAI): A measure of a family's financial strength, used by colleges to determine eligibility for federal student aid.
Free Application for Federal Student Aid (FAFSA): The official form used to apply for federal financial aid for education, including grants, work-study, and loans.
Federal Student Aid: Financial assistance available to students enrolled in eligible programs to cover school expenses, including tuition and fees, room and board, and books and supplies.
Financial Need: The difference between the cost of attendance (COA) at a school and the family's ability to pay (EFC).
Frequently Asked Questions
How do I access my SAR?
You can access your SAR by logging into the FAFSA website with your Federal Student Aid ID (FSA ID) shortly after submitting your FAFSA.
What should I do if I find errors in my SAR?
If you find errors, you should correct your FAFSA form as soon as possible to ensure your financial aid information is accurate.
Can I share my SAR with schools that were not initially listed on my FAFSA?
Yes, you can add more schools to receive your FAFSA information by updating your FAFSA form online.
Does the SAR tell me how much financial aid I'll get?
The SAR does not specify the amount of financial aid you will receive; it provides the SAI figure that schools use to calculate your aid package.
Editor: Ashley Barnett