Financial Aid Timeline

January

File parents' and student's federal tax returns early. Keep copies of EVERY document sent to the IRS (1040, all schedules, W-2's, etc.) since the Financial Aid Office may require these for verification.

The Free Application for Federal Student Aid (FAFSA) is the only application needed to apply for aid at Reading Area Community College. (Students interested in a direct student loan must also complete a Master Promissory Note in addition to the FAFSA.) Upon receipt of the FAFSA, the Pennsylvania Higher Education Assistance Agency (PHEAA) will send first-time Pennsylvania filers a Status Notice form to collect more information for PA State Grant consideration.

NOTE: Non-PA residents should contact their state's higher education assistance agency to apply for a state grant from their home state.

February

File the FAFSA early. Priority filing deadline is May 1 to be considered for campus need-based scholarships and campus-based aid (SEOG grant) for the neediest students.

NOTE: Do not wait until you have received acceptance of admission to file your FAFSA. If you will not attend your first-choice school, you can easily have your information released to another school.

March

Note: Spring Refunds sent in March

Receive Student Aid Report (SAR) online. Read it thoroughly and make any necessary corrections. If you send the SAR back to the processor for corrections, a revised SAR is sent to you and electronic corrections are sent to the school (if you listed RACC as one of your school choices.) Review the corrected SAR and keep it for your records.

April

Reading Area Community College begins to send out financial aid award letters to incoming freshmen and transfer students. Incoming freshmen and transfer students must complete online Entrance Counseling as potential first-time Loan borrowers by going to www.studentloans.gov. A Loan Request Form (LRF) must also be submitted to the financial aid office indicating the loan amount requested.

May

PHEAA notifies students about PA State Grant awards. (NOTE: The school will notify PHEAA if the student changes housing, adjusts enrollment, or receives additional aid, all of which could affect the grant amount.)

July

Note: Summer Refunds sent Mid-July

August

Aug. 1 is the deadline for first time community college students and new FAFSA applicants residing in PA for at least one year to apply for a state grant with Pennsylvania Higher Education Assistance Agency (PHEAA). Visit their website for more information.

Fall semester classes start late in month.

September

Drop/Add occurs the first week of the semester.

Financial Aid is credited to student accounts.

Mid-semester bills are sent to students who still owe a balance for Fall semester.

October

Note: Fall Refunds sent in October

Register for Spring semester courses. Be sure that you will satisfy the academic progress requirement for the number of credits needed to qualify for next year's financial aid.

December

Gather together the information to file your taxes and get ready to file next year's financial aid application!