What is a Student Aid Report?

A Student Aid Report (SAR) is a document that summarizes the information contained in a Free Application for Federal Student Aid (FAFSA), a government form that must be completed students in the United States who wish to receive financial aid. Many colleges and universities use the FAFSA as their primary financial aid application, with students occasionally being asked to provide additional information. The SAR is a document that will be sent to financial aid offices and used to put together financial aid packages.

Students will receive a copy of the Student Aid Report after completing the FAFSA. Students are responsible for double-checking the report for accuracy. Because inaccuracies could affect financial aid eligibility, a review is recommended.

The majority of the report is a summary of the information provided the student, which includes everything from the student’s name and address to financial information. It’s common for students to make minor errors when filling out forms, such as adding a zero where there shouldn’t be one or accidentally transposing an address, necessitating a thorough review of the data. If there are any errors, the student will need to submit an amended FAFSA, and it’s a good idea to notify the financial aid office about the problem.

The Student Aid Report contains some additional information that can be very useful. The Expected Family Contribution (EFC) is the amount that the government believes the student’s family can afford to contribute toward educational costs. The loan summary lists all outstanding student loans in the student’s name and can be double-checked to ensure that the information is correct. The document may also include a note stating that the student has been chosen for verification, implying that he or she will be required to submit supporting documents such as tax returns.

The Data Release Number (DRN), which appears as a four-digit number on the Student Aid Report, is crucial to remember. When a student calls to make changes or have the FAFSA sent to additional schools, they should use this number. It’s easier to submit corrections and updates if you know the DRN.

The Student Aid Report will be available online for students who complete an online FAFSA, and changes can be made there as well. This is a much faster option than filing a paper document, and it can ensure that all of a student’s materials are received the financial aid deadline. Because financial aid is given out on a first-come, first-served basis, students should take advantage of every opportunity to get ahead of the competition.