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In past years, the IRS Data Retrieval Tool helped filers pull information from their tax return into the FAFSA, but the new process will be automatic and available to everyone, said Jill Desjean ...
The FAFSA Deadline Act in 2024 made the October availability date part of the law. [8] The 2016–2017 academic year was the final time the FAFSA was not made available until January 1. [7] Two-year old US tax information is used to complete the financial sections of the FAFSA beginning with the 2017–2018 academic year.
The FAFSA typically opens in October, but changes to the application delayed its opening date to Dec. 31. That means students and their families have a smaller window to apply before college ...
In order to remain eligible for financial aid, you need to resubmit the Free Application for Federal Student Aid (FAFSA) for every year you’re enrolled in school. However, it’s not necessary ...
To qualify for need-based aid a student must have a significant amount of financial need, which is determined by the federal government based on the FAFSA. Using the information submitted on the FAFSA, the U.S. Department of Education calculates a figure called the Expected Family Contribution (EFC). If the EFC is less than the cost of ...
An Department of Education document explaining how the EFC is determined was 36 pages long in 2017. [4] It considers income, family size, living expenses, and family and student savings. If the student is a dependent, the student's savings and income, if any, are considered highly available to pay for college.
[citation needed] Another key role the organization performs is ensuring students and their families are aware that financial aid is available and is an important first step to education beyond high school. Federal Student Aid distributes numerous publications both in print and online and runs several customer call centers.
The Federal Work-Study Program originally called the College Work-Study Program [1] and in the United States frequently referred to as just "work-study", is a federally funded program in the United States that assists students with the costs of post-secondary education. The Federal Work-Study Program helps students earn financial funding ...