Hi Lukas! Welcome to the community! I'm also new here and working toward PSLF myself - currently at 72 qualifying payments. Seeing someone at 117 payments is incredibly motivating and gives me hope that I'll reach that milestone too! Everyone has already given you such thorough and helpful advice about being able to submit your ECF immediately when you hit 120 with no waiting period. I just wanted to add that it's really inspiring to see how supportive this community is - reading through all these responses has taught me so much about the final stages of the PSLF process. The anxiety you mentioned about wanting everything to go smoothly is so relatable. Even though I still have 48 payments ahead of me, I already find myself worrying about those final steps! But seeing all these success stories and practical tips from people who've completed the process gives me confidence that it really does work when you follow the right steps. You've shown such dedication getting to 117 payments over nearly 10 years - you're almost there! I'll definitely be following your journey and would love to hear updates when you hit 120 and submit for forgiveness. Your experience will be so valuable for those of us still working our way there. Congratulations on making it this far, and best of luck with those final 3 payments! 🎉

Hi Lukas! Welcome to the community! I'm also new here and currently working toward PSLF myself - I'm at 106 qualifying payments right now. Seeing someone just 3 payments away from forgiveness is so exciting and gives me hope that I'll be there soon too! Everyone has already given you fantastic advice about being able to submit your ECF immediately when you hit 120 with no waiting period. I just wanted to add that you might want to consider setting up email notifications on your studentaid.gov account if you haven't already - that way you'll get alerts when your application status changes during the review process. The anxiety you're feeling is so normal and relatable! Even being at 106 payments myself, I'm already starting to feel those nerves about the final steps. But reading all these success stories and practical tips from people who've completed PSLF gives me so much confidence that the system really does work. You've shown incredible dedication making it through 117 payments over nearly 10 years - you're almost at the finish line! I'll definitely be following your progress closely and would love to hear updates when you hit 120 and submit for forgiveness. Your experience navigating those final steps will be invaluable for those of us just behind you. Congratulations on making it this far, and best of luck with those last 3 payments! 🎉

As someone who just started this whole federal loan process, this thread has been incredibly eye-opening! I had the exact same confusion about FAFSA vs. actual loans - totally thought FAFSA was the loan itself until reading through these responses. The breakdown of the 6-month grace period and all the repayment options is so reassuring. I was honestly panicking thinking I'd have to start paying immediately after graduation! And learning about interest capitalization on unsubsidized loans was a huge wake-up call - I need to check my studentaid.gov account ASAP to see what types of loans I have. The advice about making small monthly interest payments during school is brilliant. Even if I can only manage $20-30 from my part-time job, it sounds like it could save me hundreds by preventing that interest from being added to my principal balance at graduation. Thank you to everyone who shared their real experiences and practical tips - this is honestly the most useful financial aid education I've gotten since starting college. This community is amazing for helping newcomers like me understand this confusing system!

As a complete newcomer to federal student loans, this entire thread has been absolutely invaluable! I just submitted my FAFSA last week and was totally overwhelmed by all the terminology and timelines. Like so many others here, I definitely thought FAFSA WAS the loan - had no idea it was just the application! Reading through everyone's real experiences has cleared up so much confusion. The 6-month grace period after graduation is such a huge relief to know about, and understanding that there are multiple repayment options makes taking on this debt feel much more manageable. I'm definitely setting up my studentaid.gov account as soon as my loans are processed so I can see exactly what I'm getting into. The advice about making small interest payments during school on unsubsidized loans is something I never would have thought of but makes total sense. If I end up with any unsubsidized loans, I'll definitely try to pay at least the interest while in school - even $15-20 a month sounds worth it to prevent that capitalization everyone mentioned. Thank you to everyone who took the time to share such detailed, practical advice. This is honestly the best financial aid education I've gotten anywhere, and as a newcomer, I feel so much more confident about navigating this system now. This community is amazing for helping students understand what the official materials somehow never explain clearly!

I'm brand new to this community and going through this exact same situation right now! I just saw that terrifying "no loans or grants" message on my son's account this evening and immediately thought we'd been denied everything. I was frantically googling when I found this amazing thread - reading through everyone's experiences has been such a huge relief! It's incredible how that one misleading message causes the exact same panic for every single first-time parent. The explanations about how FAFSA is just the application and that actual awards come from individual colleges make so much sense now. I especially appreciate learning about SAI scores and realistic timelines from everyone who's been through this process. Thank you to this wonderful supportive community for turning my complete panic into understanding! Now I can stop obsessively refreshing his account and just wait patiently for those college award letters. It's amazing how much unnecessary stress that confusing wording causes!

I'm completely new to this community and just discovered this thread after having the exact same panic attack! I saw that "no loans or grants" message on my daughter's account this morning and immediately thought we'd been denied everything. I was literally googling "FAFSA denied what now" when I found this amazing discussion. Reading through everyone's experiences has been such a lifesaver - it's incredible how that one confusing message on studentaid.gov causes the exact same fear in every first-time parent! The explanations about how FAFSA is just the application step and that actual awards come from individual colleges make perfect sense now. I especially appreciate the financial aid counselor's breakdown and learning about SAI scores from everyone who's been through this. Thank you to this supportive community for turning my panic into patience! Now I can stop obsessively checking her account and just wait for those college award letters with confidence.

Hey Andre! I'm a junior who's been through the FAFSA renewal process twice now, and I totally understand your frustration - I got the same wrong info from family members when I was a freshman! 😅 Yes, you absolutely need to file FAFSA every single year, but here's what nobody tells you: it gets SO much easier after that first brutal application. The renewal FAFSA pre-populates most of your info, so you're mainly just updating financial details. My first FAFSA took me like 5 hours with my parents stressing out over every form - now it takes maybe 30-40 minutes max. One game-changer tip: right after you submit this year, create a shared Google Drive folder with your parents called "FAFSA Annual Docs" and upload copies of everything you used (tax returns, bank statements, etc.). Each year, just update it with the new tax info. This saved my family SO much drama in years 2 and 3! Also, mark October 1st on your calendar for the next 3 years - that's when applications open and filing early gives you the best shot at limited funding. Some of my friends who waited until spring missed out on certain grants that ran out of money. The system is definitely annoying, but you've already conquered the hardest part! The next three years will be a breeze compared to what you just went through. 🎓

As a college senior who's navigated this process four times, I can confirm everyone's advice - you definitely need to file FAFSA annually! I know it's frustrating to learn this after thinking you were done, but here's something that might help: think of it as an annual financial health check rather than just annoying paperwork. Each year's FAFSA captures your family's current financial snapshot, which means you're always getting aid based on the most recent information. This protected me junior year when my mom had unexpected medical expenses - I qualified for additional aid that I wouldn't have gotten if I was stuck with freshman year numbers. Pro tip from someone who's been there: create a "FAFSA Anniversary" calendar event for October 1st each year with all the documents you'll need listed in the notes. I also keep a running list in my phone of any questions that come up during the year so I remember to address them in the next application. The renewal process truly is night and day compared to that first application. What felt impossible freshman year now feels like routine maintenance. You've already done the hardest part - the next three years will be smooth sailing! 🎓

To address your follow-up question about loan approval vs. disbursement: The FAFSA only asks about current assets at the time of filing. So if you have loan approval but the funds haven't been disbursed to your account yet, those funds wouldn't count as assets. However, be careful with the timing because verification requests from schools can come later, and they may ask for updated bank statements. My recommendation would be to submit your FAFSA as early as possible (October 1), then arrange for your loan to be approved and disbursed after that date.

Just wanted to add another perspective as someone who went through this exact situation two years ago. We had a similar renovation loan for our rental property and made the mistake of taking it out right before filing FAFSA. It bumped our SAI up by about $2,500, which cost us nearly that much in lost Pell Grant eligibility. What we learned for the following year: we set up automatic payments to contractors and suppliers so the money never actually sat in our personal accounts. We had the bank disburse the loan funds directly to the roofing company and HVAC contractor. This way, the cash never showed up as our assets on the FAFSA snapshot date. Also, keep detailed records of all renovation expenses. Some schools will consider professional judgment appeals if you can demonstrate that the money was already committed to necessary property maintenance expenses, though success varies by school. One last tip: if you do end up with the cash in your account when filing, consider prepaying some other legitimate expenses (property insurance, property taxes, etc.) to reduce the cash balance before your FAFSA snapshot date.