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To qualify for need-based aid a student must have a significant amount of financial need, which is determined by the federal government based on the FAFSA. Using the information submitted on the FAFSA, the U.S. Department of Education calculates a figure called the Expected Family Contribution (EFC). If the EFC is less than the cost of ...
The FAFSA Simplification Act was a part of the Consolidated Appropriations Act, 2021. Students who are military veterans and active duty service members may apply for financial aid by filing a FAFSA even if they also apply for education and housing benefits offered by the Post-9/11 G.I. Bill and its
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]
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 form will come out by Dec. 31, but there's one thing students and families can do now to make the process easier. New FAFSA financial aid forms for college are coming. Here's what ...
EFC and FAFSA might seem confusing, but these simple-enough terms will help you figure out how much need-based financial aid you could receive for college — all you’ll need is some middle ...
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 Free Application for Federal Student Aid opened later than usual in December — but with changes aimed at making it easier for students to apply for financial aid to help pay for college ...