Federal Student Aid (2024)

FAQs

What are the 3 most common FAFSA mistakes? ›

You'll have a better chance at receiving money for college if you avoid several common mistakes when filling out your Free Application for Federal Student Aid (FAFSA^®) form. Such mistakes include not completing the form on time, not filling it out correctly, or forgetting to sign and submit.

Request a Reevaluation of Your Circ*mstances

Sometimes a family's finances are not accurately reflected on the FAFSA^® form because of changes that have occurred, such as job loss/reduction, divorce or separation, or other special circ*mstances.

Contact your school's financial aid office

There are a number of possible reasons why you might have been told no aid is available: Your FAFSA may be incomplete. If you failed to submit any information on your FAFSA, then the school may not have determined yet what types of aid you are eligible for.

For many, the most difficult part about filling out the FAFSA is entering in the financial information. But now, thanks to a partnership with the IRS, students and parents who are eligible can automatically transfer the necessary tax info into the FAFSA using the IRS Data Retrieval Tool.

For example, in the 2021‑22 award year, a dependent student from a family of four must have an annual household income of under $110,400 to qualify for Cal Grant A or C, and under $58,100 to qualify for Cal Grant B.

Expected Family Contribution

This is the amount of money that the college and the government believe your family could put toward your education based on your FAFSA. This financial aid factor has a big influence on your award package.

Federal Student Aid data shows that approximately 17.8 million FAFSAs were submitted during the 2020-21 application cycle. Over the last decade, the average grant aid per full-time undergraduate student has doubled, going from $5,190 in 2001 to $10,590 in 2021.

If you're wondering: can you be denied a federal student loan, the answer is yes. Even if you complete the Free Application for Federal Student Aid (FAFSA), approval is not always guaranteed. If you've applied for federal student loans and have been denied, it's important to understand the reason for denial.

Basic FAFSA eligibility requirements

Have a high school diploma or a GED certificate. Be enrolled or accepted for enrollment in a qualifying degree or certificate program. Maintain satisfactory academic progress while in school. Not be in default on federal student loans or owe money on a federal grant.

Can FAFSA give you a full ride? ›

While it is possible for student financial aid to cover full tuition, in practice it will fall short. For most students, there will not be enough financial aid to cover the full cost of tuition, unless the parents borrow a Federal Parent PLUS loan.

Pell Grants are awarded usually only to students who have not earned a bachelor's or a professional degree. To be eligible for a Pell grant, you must also meet the general federal student aid eligibility requirements.

The FAFSA requires a lot of information, which can be overwhelming. There are two important things for students to make sure they have for the FAFSA: Time and taxes. Students will need time, sometimes a few hours, to complete the FAFSA and submit information from their parents' taxes.

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 on October 1st for the following school year.

You'll have a better chance at receiving money for college if you avoid several common mistakes when filling out your Free Application for Federal Student Aid (FAFSA®) form. Such mistakes include not completing the form on time, not filling it out correctly, or forgetting to sign and submit.

Our general eligibility requirements include that you have financial need, are a U.S. citizen or eligible noncitizen, and are enrolled in an eligible degree or certificate program at your college or career school. There are more eligibility requirements you must meet to qualify for federal student aid.

Income and assets are the some of the primary metrics on which the FAFSA measures your financial need. If your family has a high relative income, you may receive less financial aid than a family with a relatively low income, because the FAFSA will determine that you have a higher expected family contribution (EFC).

Your eligibility depends on your Expected Family Contribution, your year in school, your enrollment status, and the cost of attendance at the school you will be attending. The financial aid office at your college or career school will determine how much financial aid you are eligible to receive.