Subscribe in a reader10.21.08 | What is a SAR report?
SAR stands for Student Aid Report. After you complete your FAFSA a SAR report is then generated by the Department of Education on your behalf. So what is this SAR report anyway?
A SAR report, which is emailed to you 3-5 days after your FAFSA has been processed (if you provided an email address) or mailed to you 7-10 days thereafter is your key to the world of financial aid. Your school(s) also receives a copy of your SAR.
The school will then use the information on your SAR to determine your eligibility for grants, scholarships, federal loan options – and possibly nonfederal financial aid funds.
Finally, the school(s) listed on your FAFSA, which offered you admission, will send you an awards letter. The awards letter tells you the type of federal aid you are eligible to receive and how much you will receive. Be sure to review each award letter carefully and compare how much aid you can receive at each school. Every dime you save now will add up by the time you get out of school and begin repayment.
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