What to know about applying for financial aid.
Once you submit your FAFSA, you’ll receive a Student Aid Report, which you should review for any mistakes. Any schools you listed on your FAFSA will receive your information, and they’ll send you an aid offer that outlines what assistance you could expect for the next year if you go to their school. Financial aid is an important part of the college decision process. Once you know what aid you’ll receive – and what you’ll need to pay out of pocket – a banker can help you figure out a financial plan that works for you.