Student Aid Report (SAR)
After the processing of your FAFSA is completed, you will receive an output document
called the Student Aid Report (SAR). The SAR will be sent to you in one of three ways.
- Students who give an email address will receive an email with a link to an online
SAR that they can access by providing their PIN.
- Students who applied using a paper FAFSA application, and did not provide an email
address, will receive a paper SAR in the mail. If you do not receive a SAR, please
call the Department of Education at (800) 433-3243 and request a copy.
- Students who applied electronically, and did not provide an email address, will receive
a SAR acknowledgement in the mail.
Note: The SAR includes comment codes and text explaining eligibility results. Please review
your SAR for accuracy and make any corrections or updates if necessary.
Document Notification Letter
Once the result of your FAFSA is received by the college, you will begin to receive
document notification letters regarding the status of your financial aid. These letters
will indicate all missing documents and all documents that have been received.
Notification letters are emailed to students who provided an email address on their
FAFSA. Students who did not provide an email address will receive all correspondence
via the U.S. mail.
To facilitate the processing of your financial aid, we encourage you to submit all
required documentation to the Office of Financial Aid as quickly as possible. Please
reference your name, or the student's name, and social security number on each piece
of paper that is being submitted to our office.
Verification
If your FAFSA is selected for verification by the U.S. Department of Education, or
by Charter Oak, you will be required to submit documentation to validate the data
reported on your FAFSA. Our office will request any required information from you
via a document notification letter. Please respond promptly to all requests for information
so that we may process your financial aid in a timely manner.
Award Notification Letter
Once your financial aid file is complete our office will determine your financial
aid eligibility and issue you an award. Please read your letter carefully and do not
hesitate to contact us if you have any questions. You should keep a copy of the letter
for your files and make sure to follow all funding instructions that will be included
with your letter.
Please note that our office reserves the right to change, update or modify your financial
aid award if circumstances warrant. Listed below are factors that often result in a modification of financial aid:
- Verification, updates or corrections to information reported on your FAFSA.
- Changes in enrollment status (i.e., full-time to part-time, withdrawing or dropping
classes).
- Satisfactory academic progress deficiencies.
- Receipt of outside sources of financial assistance (i.e., scholarships or tuition
assistance benefits).
Disbursement of Funds
Students enrolled for the entire academic year will have their financial aid disbursed
in two installments - one disbursement will be made in the fall term and one disbursement
will be made in the spring term.
The college's fee award will be disbursed in one installment, in the term in which
the fee is due.
Financial aid funds will notbe released until the student's enrollment can be verified by the Office of Financial
Aid and all fund requirements are met. The disbursement of aid will not be made until
30 days after the start of classes.
What Happens After you Accept your Federal Direct Stafford Loan
First time Federal Stafford Loan borrowers will have received instructions with their
award notification letter requesting completion of Entrance Loan Counseling and a Direct Loan Master Promissory Note (MPN), so that loan funds can be disbursed to your student account.
Note: The MPN (details your rights and responsibilities as a Federal Stafford Loan
borrower) and Entrance Counseling must be completed before loan funds can be credited,
per federal regulations.
