Timeline of Events for Future Students
Deadlines, time frames, and resources for critical financial aid events like when to apply for loans, fill out the Free Application for Federal Student Aid (FAFSA), and when students can expect to view their financial aid packages.
October - December
Submit the FAFSA
- The Free Application for Federal Student Aid (FAFSA) for 2021–22 was made available October 1, 2020.
- Use the IRS Data Retrieval Tool to import your 2019 tax information into the FAFSA.
- Apply for Financial Aid.
December 1 – First time students FAFSA recommended deadline.
Search for Scholarships
- You will automatically be considered for scholarship funds from our office when we review your FAFSA.
- Other money from outside sources may be available but knowing where to look is key.
- Remember; never pay anyone to do a scholarship search for you.
- Search for Scholarships
February – April
Aid Packages Available for New Students
- Aid awarding for new students begins in February.
- Have your FAFSA submitted on time for the greatest consideration!
- You will receive an email (beginning and continuing) in February when your Award summary for the 2020-21 academic year is available on LionPATH.
- If you are beginning in summer, your summer aid will be posted to your account in May.
- How to Apply for Financial Aid
Complete on your own:
- View the Accepted Student Presentation. Learn about Penn State’s Financial Aid Process. If you have been offered admission to Penn State, this video explains our financial aid process. Watch video
- Complete the Consent to do University Business Electronically. This consent must be completed in order to use LionPATH.
- Complete the Financial Responsibility Agreement (FRA). This promise to be responsible for your student account must be completed every term you enroll.
- Grant Your Parent/Guardian Delegated Access. Parent access to student information in LionPATH is called Delegated Access. Delegated access gives parents, guardians, or other individuals access to view:
- class schedule
- enrollment verification
- financial aid
- To Do List
May – August
State Grant for PA Residents. Pennsylvania residents must have their FAFSAs submitted by May 1. Learn about the PA State Grant.
Accept Your Federal Direct Loan(s).
- Available in LionPATH Award Summary after May 1.
- For your funds to disburse, you must also complete Entrance Counseling and sign your Master Promissory Note.
Summer Aid for New Students. If you are a new student and will be starting in summer, please complete the 2020-21 FAFSA for summer aid eligibility. Your aid will be awarded in May.
Aid Packages Available for Returning Students. You will receive an email (beginning and continuing) in June when your Award summary for the 2020-21 academic year is available on LionPATH.
Complete on your own:
- Respond to Verification Requests
- You may be required to verify the information on your FAFSA.
- Please send only requested information to our office.
- Find the requested information in your TO DO LIST.
- Attend Admissions New Student Orientation. This video is quick overview of Penn State's financial aid process. It is shown to first-year students and their families during the New Student Orientation. Watch video.
June – August
Apply for Loans
- If you are a dependent student, your parent can apply for a Parent PLUS Loan on studentaid.gov.
- Alternative loan applications are made through private lenders’ websites.
- Compare Parent PLUS and Private Loans
August - September
Pay Your Bill. Tuition bills are generated August 1 (estimate) and due at the end of August. Tuition and fees through the Bursar. Pay my bill now.
Get Your Refund. If there are no holds on your account, your refund will be available on the first day of classes. Visit the Bursar.