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The federal financial aid form looks different in the 2024-25 school year. Here's what college students and parents need to know about the new FAFSA.
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 ...
The Free Application for Federal Student Aid (FAFSA) is a form completed by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.
The FAFSA is a free government application that uses financial information from you and your family to determine whether you can get financial aid from the federal government to pay for college.
To apply for federal financial aid, students must first complete the Free Application for Federal Student Aid . The financial aid process has been criticized for its part in enrollment management, whereby students are awarded money not based on merit or need, but on the maximum the student families will pay. [1]
The federal government does not distribute aid directly to the student or the student's family; it goes through the college. Colleges use the student's federal student aid eligibility and combine it with state financial aid (if any) and their own aid to create a financial aid package for the student.
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.
There are many reports that many applicants fail to apply for financial aid when they are qualified for it, with an estimated 1.8 million students in 2006 qualifying for aid but failing to apply. [79] Applying for financial aid is recommended by almost all college admissions advisers, even for middle- and upper-class families applying to ...