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Once the application is submitted to the FAFSA, the Department of Education (DOE) it is processed. They send a paper report, called a Student Aid Report (SAR) to the applicant. It is important to review the SAR when it is received to make sure all of the information is correct and to provide any necessary corrections or additional information.

The DOE enters the applicant's information into a formula from the Higher Education Act of 1965, and the result is the Expected Family Contribution (EFC). This represents the amount you are expected to contribute towards the cost of your education (although this amount may not exactly match the amount you end up contributing). Then the DOE sends an electronic copy of your information to all of the schools you listed on the application. The schools use the EFC to prepare a financial aid package to help meet your financial need.

Financial need is the difference between their EFC and the school's cost of attendance (which can include living expenses), as determined by the school. If you believe that you have special circumstances that should be taken into account, such as unusual medical expenses or a significant change in income from one year to the next, contact the financial aid administrator at the schools to which they are applying.

Any financial aid you are eligible to receive will be paid to you through your school. Typically, the school will first use the aid to pay tuition, fees, and room and board (if provided by the school). Any remaining need is paid to you for your other expenses. You cannot receive aid from more than one school for the same period of enrollment.