Financial Aid Transcript (FAT)
"Financial Aid Transcript (FAT)" submitted by SchoolGrantsfor Editorial Team and last updated on Thursday 21st July 2011
A record of all federal aid received by the student at each school attended. If you have previously attended an institution of higher education and are now applying for financial aid from a different institution, the university or college will require a FAT from each of the schools previously attended, regardless of whether aid was received or not. They are required to do this by federal law. You have to submit a FAT even if you were in high school at the time. The FAT is not the same as an academic transcript. It can be viewed on the Student Aid Report.
The school's financial aid application material usually contains a single copy of the FAT form. You will need to make a copy for every school within the United States that you've attended since high school, even if you didn't apply for or receive financial aid. Federal regulations require that a Financial Aid Transcript request be sent to every institution you previously attended regardless of whether you received aid to attend that institution to document financial aid status.
Other required forms — not all of which get sent to schools' financial aid offices — may include separate school financial-aid applications, private need-analysis forms (such as the PROFILE form from the College Scholarship Service), and your prior year's 1040 tax forms.
Financial Aid Transcript (FAT) provides a student's financial aid history at previously attended schools, in order to monitor certain aspects of eligibility. This information is reported on the SAR and ISIR, or electronically through the National Student Loan Data System (NSLDS). In some cases, a school may require you to obtain a paper FAT. This document must be completed by the aid administrator at the school you are attending and that school should then return the document back. Financial Aid Transcript must have received before an aid package can be developed.