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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 ...
In fact, the Department of Education has created an online tool that can help estimate how much a student will receive in federal financial aid – including Pell grants, loans and work-study ...
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 cost of one year at an in-state, four-year college keeps rising each year — surpassing $20,000 during the 2016-2017 school year.
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 ...
In the college financial aid process in the United States, a student's "need" is a figure that colleges use when calculating how much financial aid to offer a student. It is determined by taking the college's Cost of Attendance , which current rules require each college to specify.
The Education Department announced an update to the SAI tables that will allow students to benefit from an additional $1.8 billion in aid. (Credit: Getty Images) (Richard Stephen via Getty Images)
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.