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Originally Posted by TySky
I will be planning on being a full time student for this fall. I believe that I missed the deadline for my community college financial aid.
I also need to finish up my FAFSA
Since its too late to get money from my school, Could I still barrow money from the government like a Subsidize loan? Before the fall semester starts!
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You can file for financial aid at anytime. The FAFSA just tells the school what types of aid you qualify for and for what amounts. From there it is really up to the school to decide how much you would actually receive, even in Federal loans.
Seeing as how the academic year is from September to May (technically beginning with June but summer sessions are typically not a part of the regular academic calendar) the school's fiscal year is generally the same (ending in May). So, it makes sense to place the financial aid deadline in or near March as the fiscal year is coming to a close giving the school a general idea of how to budget for the next fiscal year.
However, community colleges not only have open admissions they also have rolling admissions. A good number of students "miss" the deadline. You will get aid if you apply...soon... You more-than-likely would be offered the full amount in at least one of the loan programs and if you get grant money it probably would not be as much as you would have received had you applied by the deadline.
By the way, the borrowed "money from the government" is actually from the school (hence why the school decides not only the amount you will ultimately receive but also if you ultimately qualify. You can always repeal a decision). Basically, the Fed. Gov. gives the school X amount of money; the school decides who gets what and when; a contractor to the U.S. Dept. of Education (Nelnet, Great Lakes, FedLoan Servicing, et al.) collects your repayment and handles repayment issues.
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Originally Posted by Unoriginator
You would need to be enrolled into summer term at least half term with a completed FAFSA for the 2013-14 school year and an award letter issued from your school before you can borrow any type of federal student aid.
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True, for the summer session. The next fiscal year will begin in September, when the next academic year will also begin. So, if the OP is not interested in summer school the school year beginning the Fall is 2014-2015.