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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.
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 ...
NEW YORK (AP) — A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of ...
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.
FAFSA originally came from the 1965 Higher Education Act (HEA) by President Lyndon Johnson, this established the United States Government as the primary provider of financial aid for students. [21] For years the application was called Financial Aid Form (FAF), which was an optional form used by some—but not all—colleges and universities.
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".
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