College Countdown

    Timeline -- Financial Aid

8TH GRADE
    Start mapping our your financial plan including discussions with grandparents and others who may contribute
    towards college

   Consult financial planner, if necessary.

9TH GRADE
    Begin the first year of your financial plan.

   Consult financial planner, if necessary.

   Start general research.

10TH GRADE

    Start active research on scholarships.

    Implement the second year of your financial plan.

    Consult financial planner, if necessary.

11TH GRADE

    Implement the third year of your financial plan.

    Apply for any independent scholarships open to juniors.

    Start research into educational loans.

    Attend financial aid workshops.

    In December, finalize any asset swapping that will be necessary for the
     most advantageous computation of financial need for financial aid
     awards. This needs to be accomplished by December 31st. 

12TH GRADE

    Implement the fourth year of your financial plan.

    Apply to colleges and file any Profiles and individual college-specific financial aid forms, as required.

    In November or December, obtain the FAFSA form from the high school guidance counseling office/counselor.

    Attend college financial aid workshops.

    In December, fill out the FAFSA as completely as possible.

    In January, file the FAFSA using estimated tax document figures.

    In February, receive the Student Aid Report (SAR) which is calculated from the FAFSA.

      As soon as possible, complete your Federal 1040 tax return and then re-file your updated SAR with the actual
      figures used in your and your teen's tax returns.

      In February-March, receive a corrected SAR based on the actual tax return data.

      In March-April, receive college financial aid notification (award letters) from all colleges to which you have been
      accepted.

      Compare all awards and proceed with any negotiations, if necessary.

       May 1st -- finalize decision and notify colleges.

       May-July -- apply for any loans needed.

   See Chapter 5 for more information and instructions.
    Click here for more information

 © 2005 [Wildwood Country Press]. All rights reserved.
 © 2000 [McGraw-Hill Companies, Inc.]. All rights reserved.
Revised: August 09, 2005 .

Return to College Countdown Home Page