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FAQs
Is federal student aid the same as FAFSA? ›
Thousands of schools across the country participate in the federal student aid programs; ask the schools you're interested in whether they do! Apply for federal student aid—grants, work-study, and loans—using the Free Application for Federal Student Aid (FAFSA®) form.
How much federal aid can a student get? ›Average and maximum financial aid
| Type of Aid | Average Amount | Maximum Amount (2024-25) |
|---|---|---|
| Federal Supplemental Educational Opportunity Grant | $670 | $4,000 |
| Total Federal Student Aid | $13,120 (dependent) $14,950 (independent) | $20,895 to $22,895 (dependent) $24,895 to $27,895 (independent) |
| Total Federal Grants | $4,980 | $11,395 |
May 1, 2024
The 2024–25 FAFSA form is now available. We've started sending submitted applications to colleges and states.
What is the FAFSA website? ›The official FAFSA. site is fafsa.gov, and you can get free help to. complete the application from.
Can you use FAFSA money to buy a car? ›You can use student loans to pay for a college's cost of attendance, and the cost of attendance includes transportation, so can you use student loans to buy a car? You cannot use student loans to buy a car. If you live off campus, having a car may be a necessity, but the college doesn't require it.
Is FAFSA free money or a loan? ›It is not the financial aid itself. However, the FAFSA enables the student to qualify for many types of financial aid from several sources. Some of this money is free money, some must be earned through work, and some must be repaid. There are three main types of financial aid.
What is the highest income to qualify for financial aid? ›There is no set income limit for eligibility to qualify for financial aid through. You'll need to fill out the FAFSA every year to see what you qualify for at your college. It's important to make sure you fill out the FAFSA as quickly as possible once it opens for the following school year.
How much does the average student get in federal aid? ›Most federal grants are need-based. The average federal grant amount awarded to each student on an annual basis is $4,983. The federal government is most likely to award grants to students attending private, for-profit colleges, with 67% of students at these institutions receiving federal grants.
Who is eligible to receive federal student aid a student? ›Our general eligibility requirements include that you have financial need for need-based aid, are a U.S. citizen or eligible noncitizen, and are enrolled in an eligible degree or certificate program at an eligible college or career/trade school.
Am I screwed if I miss the FAFSA deadline? ›Some states and colleges continue to award aid to FAFSA latecomers, but your chances get much slimmer, and the payout is often lower. If you miss the end-of-June federal deadline, you're no longer eligible to submit that year's FAFSA form. Did we mention you shouldn't miss the deadlines?
Is FAFSA first come first serve? ›
However, some of the available money is handed out on a first come, first serve basis. So, it's a good idea to file your application sooner than later to help pay for your education. A new, updated version of the FAFSA was recently launched for the 2024-2025 academic year. Here's how the form works.
Do both parents have to fill out FAFSA 2024-25? ›If your (the student's) parents are married, remarried, or unmarried and living together, you must invite at least one parent as a contributor with the option to invite the other parent as well. If you only invite one parent, that person will be the parent contributor on your FAFSA form.
What are three things you need to complete the FAFSA? ›You might need the following information or documents as you fill out the 2023–24 FAFSA application:
- Your Social Security number (it's important that you enter it correctly on the FAFSA form!)
- Your parents' SSNs if you are a dependent student.
- Your driver's license number if you have one.
Dependent students must provide parent information on the FAFSA form, and in most cases, a parent will be identified as a contributor on the form. Determine if you will be identified as a contributor on your child's FAFSA® form with this infographic.
How to know if FAFSA is approved? ›After you submit your FAFSA form online, you can check its status immediately by going to fafsa.gov and logging in with your FSA ID (account username and password). (Note: Only the student can check the status.)
Do you have to pay back federal student aid? ›Once you graduate, drop below half-time enrollment, or leave school, your federal student loan goes into repayment. However, if you have a Direct Subsidized, Direct Unsubsidized, or Federal Family Education Loan, you have a six-month grace period before you are required to start making regular payments.
Who gets federal aid? ›Eligibility Requirements. Our general eligibility requirements include that you have financial need for need-based aid, are a U.S. citizen or eligible noncitizen, and are enrolled in an eligible degree or certificate program at an eligible college or career/trade school.
Is the Pell Grant considered federal student aid? ›The Pell Grant is the largest federal grant program offered to undergraduates. Fill out the Free Application for Federal Student Aid (FAFSA) form every year you're in school to stay eligible for federal student aid.
Is federal student aid a scholarship? ›Financial aid is typically awarded based on financial need, while scholarships are awarded based on merit or achievement. This means that students from low-income families are more likely to qualify for financial aid.