The Confusing Student Aid Report (SAR)
The Student Aid Report (SAR) is a confusing government-type report that summarizes the information that you provided on the FAFSA financial aid form. The following are some guidelines involving the SAR.
Your SAR will usually contain your Expected Family Contribution (EFC), the number used in determining your eligibility for federal student aid. Your EFC will appear in the upper right-hand portion of a paper SAR and at (or near) the top of an electronic SAR. If there is an asterisk positioned next to the EFC figure on the SAR, then the data you submitted has been selected for verification (audit). If you do not have an EFC number on your SAR, then more information may be needed from you to process your data.
If you provided an e-mail address when you applied for aid, you will receive your SAR by e-mail 3-5 days after your FAFSA has been processed. This e-mail will contain a secure link so you can access your SAR online. If you did not provide an e-mail address when you applied for aid, then you will receive a paper SAR by mail in 7-10 days after your FAFSA has been processed. Regardless of whether you applied online, or by paper, your financial data will automatically be sent electronically to the schools you listed on the FAFSA.
Once you receive the SAR, review it carefully to make sure it’s accurate and complete. The school(s) you’ve selected to receive your SAR will use this information to determine if you’re eligible for federal – and possibly nonfederal – student financial aid funds.
If you need to make corrections to your SAR, you can make them online using your PIN number. Go to http://www.fafsa.ed.gov and select “Make Corrections to a Processed FAFSA.” If you received a paper SAR, make any necessary corrections on that SAR and mail it to:
Federal Student Aid Programs
PO Box 4038
Washington, DC 52243-4038
If you do not receive your SAR, call the federal processor at 1-800-4-FED-AID.
Once your SAR is accurate and complete and you are eligible for federal student financial aid, each school will send you an Award Letter.
U.S. News & World Report Ranks Colleges For 2009
Each year the popular magazine U.S. News & World Report ranks the top colleges in various categories. Here are the latest rankings for the categories Best College Value, Best Merit Aid Awards, Most Selective Colleges, and Best Retention Rates.
|
|
Best College Values |
|
|
|
|
|
|
|
Percent Of Students |
Average Discount |
|
College |
Receiving Grants |
From Total Cost |
|
Harvard University |
51% |
68% |
|
Princeton University |
53% |
66% |
|
Yale University |
42% |
64% |
|
MIT |
61% |
59% |
|
Stanford |
42% |
63% |
|
Calif Institute of Tech |
52% |
56% |
|
Dartmouth |
50% |
60% |
|
Columbia |
46% |
60% |
|
U of North Carolina |
35% |
50% |
|
Rice University |
34% |
53% |
|
|
Best Merit Aid Awards |
|
|
|
|
|
Percent Of Students |
|
College |
Receiving Merit Aid |
|
Cooper Union |
100% |
|
Anderson University |
95% |
|
Sierra Nevada |
93% |
|
University of Mobile AL |
73% |
|
Avila University |
63% |
|
Dillard University |
56% |
|
New College of Florida |
54% |
|
University of Florida |
52% |
|
Denison University |
51% |
|
Hampden-Sydney College |
50% |
|
Ouachita Baptist University |
50% |
|
Seton Hall University |
49% |
|
University of Nevada/Reno |
48% |
|
Trinity University |
47% |
|
DePauw University |
46% |
|
University of Michigan |
45% |
|
Longy School of Music |
45% |
|
Louisiana College |
45% |
|
Kalamazoo College |
45% |
|
Westminster College Fulton |
43% |
|
|
Most Selective Colleges |
|
|
|
|
|
Colleges With |
|
College |
Lowest Acceptance Rates |
|
Curtis Institute of Music |
4.80% |
|
Juilliard School of Music |
7.70% |
|
Harvard University |
9.20% |
|
Princeton University |
9.70% |
|
Yale University |
9.90% |
|
Stanford University |
10.30% |
|
Columbia University |
10.60% |
|
Cooper Union |
10.70% |
|
United States Naval Academy |
11.80% |
|
College of the Ozarks |
11.80% |
|
MIT |
12.50% |
|
Brown University |
14.00% |
|
National-Louis University |
14.30% |
|
U.S. Military Academy |
15.00% |
|
Dartmouth College |
15.30% |
|
University of Pennsylvania |
16.00% |
|
Claremont McKenna College |
16.20% |
|
Pomona College |
16.30% |
|
Calif Institute of Technology |
16.90% |
|
Washington University |
17.30% |
|
|
Best Retention Rates |
|
|
|
|
|
Colleges With |
|
College |
Highest Retention Rates |
|
Yale University |
98.50% |
|
MIT |
98.00% |
|
Stanford University |
98.00% |
|
Princeton University |
98.00% |
|
University of Pennsylvania |
98.00% |
|
Dartmouth College |
98.00% |
|
Calif Institute of Technology |
97.80% |
|
Columbia University |
97.80% |
|
University of Notre Dame |
97.50% |
|
Notre Dame |
97.20% |
|
Brown University |
97.00% |
|
Harvard University |
97.00% |
|
University of Chicago Chicago |
97.00% |
|
Northwestern University |
97.00% |
|
Rice University |
97.00% |
|
U of California – Los Angeles |
97.00% |
|
Washington University |
96.80% |
|
Georgetown University |
96.80% |
|
U of California – Berkeley |
96.50% |
|
University of Virginia |
96.50% |
The author of this newsletter is Chuck Reilly.
If you have any questions about the information contained in this newsletter, or any questions about college funding in general, please contact our office.
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