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The ISIR is also sent to state agencies that award need-based aid. Students can file an appeal with their college financial aid office in order to seek additional financial aid if their current financial situation is no longer the same as the financial information they provided on FAFSA (i.e. their parent recently lost their job).
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 ...
The Free Application for Federal Student Aid application (FAFSA) is generally used for determining federal, state, and institutional need-based aid eligibility. At private institutions, a supplemental application may be necessary for institutional need-based aid. A recent trend shows that what is purely need-based aid is not entirely clear.
The federal financial aid form looks different in the 2024-25 school year. Here's what college students and parents need to know about the new FAFSA.
Since some need-based aid goes out on a first-come, first-served basis, you could get more aid the sooner you apply. The bottom line As you plan your college future, funding will play a big role.
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.
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