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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 new FAFSA will replace the Expected Family Contribution with a different formula called the Student Aid Index that will help determine the amount that each student can receive in financial aid.
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.
In order to receive federal student financial aid, students must meet the following criteria: have maintained a Satisfactory Academic Progress (SAP); [1] [2] be a U.S. citizen, a U.S. national, or an eligible non-citizen;
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] In terms of race, changes in financial aid affect black students more than it affects white ...
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 ...
The Texas Higher Education Coordinating Board extended the state financial aid application priority deadline to April 15 due to technical challenges related to FAFSA this year.
The student makes no payments while enrolled at least half-time. If a student drops below half time or graduates, a six-month deferment begins. If the student returns to least half-time status, the loans are again deferred, but a second episode no longer qualifies and repayment must begin.