"Federal Processor" submitted by SchoolGrantsfor Editorial Team and last updated on Friday 1st July 2011
The federal government’s computer system that analyzes the information on your FAFSA, calculates your expected family contribution and sends out the Student Aid Report.
A Student Aid Report (SAR) will be mailed to the student once the FAFSA is submitted and processed. Applicants should review the SAR carefully and make all corrections. If no corrections are necessary, the SAR should be retained and financial aid will be awarded based on this information. The Financial Aid Office will receive the student's record electronically from the federal processor.
The Financial Aid Office is required by the U.S. Department of Education to verify files for applicants selected for verification by the Processor. In addition, the Financial Aid Office reserves the right to request verification of additional applicants with questionable or conflicting information.
The types of financial aid available to transfer students are determined by individual eligibility and availability of funds. Student Financial Services awards financial aid based on financial need which is determined by subtracting the expected family contribution (EFC) from the cost of education. (The EFC is calculated by the federal processor when the FAFSA is filed). Upon receipt of your FAFSA, the Federal Processing Center will analyze your application and forward a Student Aid Report (SAR) to you and your school financial aid office within three to five business days.
The recent federal regulation changes and timing of technical upgrades by the federal processors posed too much of a risk to continue with original plan.