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The FAFSA4caster estimates your federal financial aid award before you apply, helping you to compare the cost of attendance at multiple colleges. Plus, you can take steps to maximize the amount of ...
The Free Application for Federal Student Aid, better known as the FAFSA, has long been due for an update. On December 30, a new version of the form was released – a culmination of changes ...
There are a number of free calculators on the Web to help applicants estimate the EFC before filing the FAFSA. Recipients of need-based financial aid must reapply for each year by completing a new FAFSA. The term and concept of Expected Family Contribution was replaced by the term Student Aid Index (SAI) in 2024. [2] While the minimum EFC was ...
The FAFSA typically opens in October, but changes to the application delayed its opening date to Dec. 31. That means students and their families have a smaller window to apply before college ...
The original FAFSA form had 108 questions, which was a significant barrier for many low-income families seeking financial aid. [22] The questions were broadly seen as excessively detailed and unnecessarily complicated, with students being required to dedicate several hours to completing their application.
Need-based financial aid is awarded based on the financial need of the student. The "need" of each student is a figure determined separately for each student. The Free Application for Federal Student Aid application (FAFSA) is generally used for determining federal, state, and institutional need-based aid eligibility.
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.
College advisers suggest that parents keep financial records, including tax forms, business records, to use when applying for financial aid, [80] and complete the FAFSA online, using income and tax estimates (usually based on previous years), early in January of their college-bound student's twelfth grade. [74]