Federal Student Aid (2024)

FAQs

Federal Student Aid? ›

Through Federal Student Aid (a performance-based organization), the U.S. Department of Education awards more than $120 billion a year in grants, work-study funds, and low-interest loans to approximately 13 million students.

Through Federal Student Aid (a performance-based organization), the U.S. Department of Education awards more than $120 billion a year in grants, work-study funds, and low-interest loans to approximately 13 million students.

If you're neither a citizen nor an eligible noncitizen, you aren't eligible for federal student aid. If you have a Social Security number but aren't a citizen or an eligible noncitizen, including if you've been granted DACA, you should still complete the FAFSA form because you may be eligible for state or college aid.

If you don't have an FSA ID and think this is an error, please call Federal Student Aid at 1-800-433-3243 for assistance with your FSA ID.

Go to fafsa.gov.

However, federal student loans received through your FAFSA do have to be repaid with interest after you graduate or leave school. It's essential to understand the types of aid included in your financial aid award letter.

Pell Grants are federal grants and Cal Grants are state grants. Both are for students with financial need. Some Cal Grants have a minimum GPA requirement while federal Pell Grants do not. You could qualify for both a Pell Grant and a Cal Grant.

Other reasons for financial aid disqualification include: Not maintaining satisfactory progress at your college or degree program. Not filling out the FAFSA each year you are enrolled in school. Defaulting on a student loan.

There is no income cut-off to qualify for federal student aid. Many factors—such as the size of your family and your year in school—are considered.

However, the FAFSA enables the student to qualify for many types of financial aid from several sources. Some of this money is free money, some must be earned through work, and some must be repaid. There are three main types of financial aid.

Do both parents need to fill out FAFSA? ›

If your parents are divorced or separated and do not live together, only one parent needs to fill out the FAFSA as explained above. If you fill out the FAFSA with both your parents' information even if you don't need to, the FAFSA will use both sets of financial information to calculate financial need.

If you submitted a paper FAFSA form, your form will be processed within 7 to 10 days. Once your form is processed, you'll receive a copy of your Student Aid Report (SAR), which summarizes the information you provided on your FAFSA form. Review your SAR and make sure all of the information is complete and accurate.

Contact the loan's servicer and tell them that you want to return unneeded funds within the 120-day disbursem*nt window so the return will reduce the loan's principal.

Each child must start their own FAFSA form and complete their required sections. Each child will need to invite you to complete their FAFSA form. You will receive separate invitation emails to complete the FAFSA form for each child. You must complete all required parent sections for each child's FAFSA form.

You need to fill out the Free Application for Federal Student Aid (FAFSA^®) form only once per year, but the federal government, your state government, and your school have different dates by which you must do so to be eligible for each of their aid programs.

Students use the Free Application for Federal Student Aid (FAFSA^®) form to apply. Besides referring your students to the information at StudentAid.gov/types to learn about federal aid, you also can recommend they visit StudentAid.gov/resources for fact sheets, videos, and infographics.

In the United States, federal assistance, also known as federal aid, federal benefits, or federal funds, is defined as any federal program, project, service, or activity provided by the federal government that directly assists domestic governments, organizations, or individuals in the areas of education, health, public ...

The FAFSA is an application that the federal government uses to gather the financial information it needs to assess what loans and grants you qualify for. The FAFSA needs to be completed each new aid year to determine eligibility for federal student aid.

A federal student loan is a type of loan provided by the U.S. government to eligible students or their parents/guardians to help cover the cost of higher education. Since funds are distributed directly from the government, they are a dependable option for financing education.

To receive federal student aid, you'll need to… to obtain a college, career school, or trade school education, either by having a high school diploma or equivalent, by completing a high school education in a homeschool setting approved under state law, or by meeting the criteria for an ability-to-benefit alternative.