Financial Aid Process - Iowa College Access Network - ICAN

Financial Aid Process

The entire concept of financial aid can seem hard to understand, but, for most students, it's needed to help pay for college. To make it more manageable, try breaking it down into these steps.

Step 1. Determine the amount of money you have available from savings and investments.

Step 2. Search for private scholarships and grants. Remember, this money will not need to be repaid, so any you receive will  reduce your need for additional financial aid.

Step 3. Get an FSA ID from the U.S. Department of Education to help you with the next step.

Step 4. Fill out the Free Application for Federal Student Aid (FAFSA) and submit it.

Step 5. Receive a Student Aid Report (SAR), which summarizes your FAFSA information.

Step 6. Review award letters from different schools to understand and compare the different financial aid packages.

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