When will I know how much money FAFSA will grant me?

Question

How long does it take to know how much money FAFSA will loan me and how much money I will recieve from the Pell Grant which I know I will get?

Answer 1

FAFSA doesn't loan you money directly.  It's used to determine the amount of financial aid you may be eligible to receive.  And any Pell Grant award is based not only on your EFC (expected family contribution) but also the school you attend, and how many credit hours you plan to register for.  If you decide to go for more or less than you initially thought, it can be adjusted.  There isn't a set amount.  Once the financial aid office at your school receives your information, they generally will send you information on what type of aid is available to you.  Sometimes they also include available loans, or other programs like work-study.

Answer 2

Filing the FAFSA is an important step in the financial aid process. It allows your school to generate your financial aid package, which can include Federal Stafford loans, work study, and grants.

You won't know until your school gives you a financial aid package. In the package you will see what each your school is giving you as well as other scholarships accepted and state funds (pell grant, etc).

Answer 3

Post your EFC and see if someone can answer how much you will get.