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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.
The US Department of Education made the FAFSA available earlier to more closely align the timing of the financial aid application process with the typical college application process. [7] The FAFSA Deadline Act in 2024 made the October availability date part of the law. [ 8 ]
A college cost calculator, in the United States, is an online tool allowing students and their parents to calculate how much college is likely to cost. [ 1 ] [ 2 ] Numbers are input into the online calculator, and if done properly, it gives an estimate of the likely expenses for that student attending that particular college.
The cost of one year at an in-state, four-year college keeps rising each year — surpassing $20,000 during the 2016-2017 school year. FAFSA deadline, requirements, calculator, contact, student ...
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 ...
However, if you miss a college deadline, reach out to the financial aid office to see what you can do. While not every school is flexible, there are some schools that may offer aid past the ...
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 students. [72] Changes in financial aid affect students from community colleges more than students from four-year schools. [72]
The FAFSA Simplification Act impacts all college students, regardless of their income and financial situation. In some cases, financial aid will increase substantially for students, while others ...