FAFSA and HPSP

[hkim1026]

Hi,

I am currently getting through paperwork process for Navy HPSP and would like some insight on financial aid. Due to nature of uncertainty of receving the scholarship, I am a little confused what I should do to cover my finances in case I do not get selected this year. I have not taken my MEPs yet, and I know it will take maybe a few weeks or so for me to gather all of information. I understand it takes a few months to review every applicant from the selection committee, so presumably I won't know the result until later this spring.
Is it appropriate that I apply for FASFA and decline the loan once I get the scholarship? The worst will be having to cover my tuition out of my pocket without financial aid because I missed the deadline of FASFA, and I don't have that kind of $$.
Can someone please advise?
Thank you for your time!

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[Nat426]

Fill out the FASFA and if you need to take out loans do it, if the scholarship kicks in it will pay retroactively and they will pay back your loans and cancel them.

 

[Nat426]

I forgot to mention you will be able to take out a small amount in loans if you need to based on your circumstances. This is in addition to what you get from HPSP, so it's still a good idea to fill out the paperwork.

 

[hkim1026]

I forgot to mention you will be able to take out a small amount in loans if you need to based on your circumstances. This is in addition to what you get from HPSP, so it's still a good idea to fill out the paperwork.

Thank you for your insight!!
That is great to know! I didn't know that they would retroactively pay for the loans i accepted. Thank you for your time and your input.