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The Free Application for Federal Student Aid (FAFSA) must be submitted for each year of enrollment. One form covers both semesters of the school year with payments issued every quarter or semester.
The amount of financial aid you get depends on each institution. The application is also used to determine eligibility for other federal student aid programs, like work-study and loans, as well as ...
The FAFSA determines eligibility for federal Pell Grants and federal student loans – and in most cases, the financial aid provided by colleges as well, though some require students to submit an ...
Decreases in the amount of financial aid lead to decreases in enrollment. However, different types of financial aid have differing effects. Grant awards tend to have a stronger effect on enrollment rates. [72] Changes in tuition and financial aid affect poorer students more than they affect students with higher incomes. [72]
Grants are a type of financial aid that does not have to be repaid. Generally, grants are for undergraduate students and the grant amount is based on need, cost of attendance, and enrollment status. Federal Pell Grants are designed for low- and middle-income undergraduate students. Pell Grants for the 2023–2024 school year range from $750 to ...
In cases in which a student qualifies for merit-based (rather than need-based) financial aid, the student and their family may pay less than the EFC. A well-to-do family's EFC may exceed the cost of attendance at a school, and in that case the student does not have financial need, as defined by the federal financial aid system.
Students who are military veterans and active duty service members may apply for financial aid by filing a FAFSA even if they also apply for education and housing benefits offered by the Post-9/11 G.I. Bill and its accompanying Yellow Ribbon program. The amount of military aid a student receives for a college education does not defer ...
The Education Department initiated a "soft launch" of the 2024-25 Free Application for Federal Student Aid application form over the weekend, and already over 400,000 applications have been submitted.