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Financial aid is available in the form of student loans, grants and work-study. The amount you’re eligible for depends on your enrollment status and year of study, how much your family is ...
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 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 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.
Most federal aid is need-based. The three most common types of aid are grants, loans, and work-study funds. 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.
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.
The FAFSA Simplification Act makes it easier for students to receive Pell grants, linking eligibility to a student's family size and the poverty level set by federal guides.