Important financial aid deadlines

Transcript

Right now, we're going to reveal to you your real college timeline. Because there's a good chance only half of it is on track right now, and senior year is a wild enough ride without any extra thrills and chills. So here you are strapped in and ready to roll. Loads to do. Lots of deadlines you know are coming, even if you're not exactly sure when each one of them is. So let's just take a few seconds to sort out the milestones right in front of you, so we can turn our focus to the invisible ones that can really throw you for a loop. So we’re going to pause the rollercoaster ride for a second, and line everything up so you can appreciate the view. There you have it, ladies and gentlemen – the immediate future you see coming. Want a screenshot? Here you go. And now, here's what you may not see coming. And pay attention – because it's every bit as important, and it's a lot.

September Due Dates for Financial Aid

Welcome to September of your senior year. The ball starts rolling as the College Board and ACT start sending your test scores to the schools you're applying to. But guess what? They're not psychic. You need to tell them what those schools are and keep them up to date on any changes.

October Due Dates for Financial Aid

October is the big money month. Now is the time to apply for financial aid through the FAFSA and CSS websites. The FAFSA is from the federal government and the CSS is from the College Board. Find out which one you need to file for each of your colleges, then complete one or both and hit send as soon as possible. Then start watching your inbox like a hawk.

In just a few days, you'll hear from FAFSA what your expected family contribution (or EFC) is going to be. Or, you may get a request from the government for more information. If you don't respond to that request, your application is dead in the water – and your college plans may be, too. Your EFC is probably going to seem too high, but no need to freak out just yet.

October is also when state governments update their sites with info about state scholarships and grants. You may be able to link to these opportunities from FAFSA, too. This is the good money, people – the kind you don't have to pay back. But a lot of it is first come, first served. So be smart and grab it before it's too late, because March seems far away – but it will be here before you know it. And March, friends, is the moment of truth. So why don't we just fast forward here.

March is when you learn how much financial aid you’re being offered

If you weren't convinced already, March is when you'll be very glad you applied to a variety of colleges with a wide range of prices, because now is when all the working and waiting pays off. If you filled out the FAFSA, by the end of March you'll receive your admissions and completed financial aid packages. Here's what those packages may include: money toward tuition, room and board; special scholarshps; loans; and federal or state grants. We hope that in March, your inbox is full of good news – and we don't just mean acceptances. We mean acceptances to schools that you like and can afford. If you planted the seeds, you should get a good harvest. Take a few weeks to smell the roses, but your deposit is due May 1st at the latest.

Your deposit for college is due no later than May 1

Now is when your future comes into focus. Do you like what you see? And what did you think of the ride to get there? If you neglected even one of your deadlines, it could have turned out badly. We can't stress this enough: if you blow a financial deadline, you could be blowing a ton of money, or wind up not going to college at all. But if you: got your applications in on time to a wide range of schools; kept the College Board and ACT up to date on your choices; filed your FAFSA and CSS in October (no procrastinating); replied promptly to any questions; and jumped on those state grants – you're ride and your future stand a good chance of looking great. Your ride could even be free! And all you had to do was lock yourself in, stay on track, and stick to the timeline. See, wasn't that easy?