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The federal government does not distribute aid directly to the student or the student's family; it goes through the college. Colleges use the student's federal student aid eligibility and combine it with state financial aid (if any) and their own aid to create a financial aid package for the student.
For example, if a family had two children in college, each student’s eligibility for financial aid was roughly double what it would have been if the family did not have any other children in ...
Colleges use this figure, once students are accepted, to make up their financial aid package, typically offering a combination of loans, grants (which do not get paid back) and work study ...
For unmarried students under 24, Congress mandates that parental income and assets be included. The resulting figure is the student's "need". Colleges attempt to provide students with enough financial aid to meet all student need, but in most cases are unable to do so completely. The result is "unmet need".
Enrollment status: You’ll get less financial aid as a part-time student than a full-time one. Cost of attendance: Each school has its own cost of attendance, which comes from tuition, fees, room ...
Student financial aid (or student financial support, or student aid) is financial support given to individuals who are furthering their education. Student financial aid can come in a number of forms, including scholarships, grants, student loans, and work study programs. Each of these methods of providing financial support to students has its ...
The new formula will allow students from families that are not required to file federal income taxes to automatically be considered for a high financial aid amount. — IRS Data Retrieval Tool
The College Board also offers the CSS/Financial Aid PROFILE, a financial aid application service that many institutions use in determining family contribution and financial assistance packages. [43] Students also must pay a $25 fee to apply and another $16 for each additional school to which they submit the profile. [44]