what to do after FAFSA?

[s2o0o]

okay, so i know that i am such a procrastinator but i finished filling out my FAFSA a few weeks ago. i just got confirmation that they have processed it and they emailed me my PIN number. but what exactly am i supposed to do now? to make things a little more complicated, i am currently holding a seat at one school but am still waiting to hear if i will get into another school off of the waitlist. any ideas as to what i should do? i don't want to end up with no money to pay for school! any help would be greatly appreciated (as i figure most of you have already passed this point in the whole financial aid game).

---

Members don't see this ad.

 

[daisygirl]

I am not an expert on financial aid, anyhow, my advice is:

(1)to fill out the financial aid forms for state aid *if applicable* (in NY we have TAP).

(2)call the school where you are holding a spot and ask them if they are a direct lender. If they are that means you have no choice of lender because you will be receiving your federal/private loans through them. If they are not, then they will ask you to choose a lender to borrow from. Who to choose depends upon your school's policy. Some schools may *force* you to go through their preferred lender and some schools may not care (in that case you would be able to choose who you want). Once you have chosen a lender, if applicable, then you need to sign a master promissory note (MPN) from the chosen lender.

In any case, contact the medical school where you are holding a spot and ask them what the next step is and how to proceed. Don't worry about getting into another school after you have essentially finished up with financial aid paperwork. This has happened to many people before, and if this happens to you, your aid will be transferred to the school where you ultimately choose to attend.

 

[paean]

Actully, aid doesn't get transfered to a different school (unless you are talking about state grants). You should both call the school you were accepted at, and the one where you are waitlisted, tell them you completed the FAFSA (you put both schools on there, right? if not, use your pin to go online and add your waitlisted school immediately) and ask what other forms they use. The four types of forms I filled out (beside the FAFSA) were: need access, profile, institutional forms specific to the school, and none (wanted a copy of my and my parents income taxes only). Also, if they are not a direct loans school, research the best lender for your situation. I little pointing and clicking can save you 10K+ during repayment. Read other threads for advice on lenders.

 

[s2o0o]

daisygirl and paean: thanks for the suggestions. i will start there. i was not even aware that there were other forms that need to be filled out! i'm sure glad for SDN! thanks again!