Question about Fafsa and financial awards? Help?

My school verifies everyone's Fafsa, so the verification process takes pretty long. My question is that after they have looked over your Fafsa and have decided on an award, how long does it take for your award to go through after you accept it? You can see why I am worried because I turned in my Fafsa early and was told that they won't choose an award until around July 30th, but payments are due on August 11th! What if I need to get a loan as part of my award? How long will that take after my award has been chosen? They told me that the only way to get a loan that is not private is to do the Fafsa.