Did the school tell you its too late for you to apply for federal financial aid for this year or did you make this assumption? Because the CURRENT fafsa application is for an academic year, not a Jan-Dec year. Here is the description for when the current fafsa is good for.

The 2007-2008 School Year (July 1st, 2007 - June 30th, 2008): —this is directly off the application–I’m attaching the link below.

The next FAFSA that will be available (the one you are inquiring about to apply) in Jan would be good for the following academic year (July 1st, 2008- June 30th, 2009) and it sounds like you would be graduated by then!!!

At work, I am helping people NOW apply for financial aid/Stafford loans at who are starting in school this January. It is not too late for them… I don’t know why you think it would be too late for you?

Don’t take out private loans… fill out the fafsa, like tonight, and talk to your schools financial aid office- quick. Email me if you need more help. Be sure to include the schools website-sometimes those proprietary schools have weird academic calendars and deadlines.

Edit - more info
Hi Greg, I looked at your school. It’s not recognized by the Dept of Education to receive federal student aid so you can’t get a Stafford loan to go to this school. Are you borrowing 55,000 to go there? Well, it’s your business dude, but I would go to a school that you can get decent fin aid to go. One that would get you the pilots license and even a degree as well. Surely there is something close to you, but here are a couple of examples of real schools that will let you borrow on federal student loans.
Aviation – Professional Pilot Bachelor of Science Major–Minor Cost of that school here.
AVIATION SCIENCES TECHNOLOGY - Professional Pilot Option Cost of that school here.

From experience it usually takes mine about a week or two after classes have started for the disbursements to take place. While you’re waiting on your disbursements you can go online and check the status and it will tell you the exact dates. I have Sallie Mae, too.