Fed Financial
FAFSA Financial Aid Income Requirements?
I wanted to know if there are any Financial Aid Income Charts or schedules so someone can know how much the maximum is that the parents can make for the child to still get aid and so on.... is there a formula or a char tor anything>? Please include sources...
Public Comments
- The parents cannot make more than $35000 at year, but that depend on what state you live in.
- it depends on the institution you are attending....
- Go to www.fafsa.ed.gov this is what both of my granddaughters used. Good Luck!
- I'm not sure about where any charts are, but there is a lot more that goes into the formula than your parents' income. They will consider your parents' age, family size, number of people in family attending college, any special circumstances, and a lot more. I highly recommend you read College Planning for Dummies.
- It's a little complicated and lengthy, but if you fill it out on-line at http://www.fafsa.ed.gov you'll know your EFC (expected family contribution) right away. They'll have links taking you to a financial site which explains how they come up with this number.
- Financial Aid (loans, grants, scholarhips, stipends) depends on the school not just the income of parents. The max Pell grant is about 4500 but schools have the ability to make adjustments to income to find students eligible. The EFC is looked at differently at each school.
- http://www.fafsa.ed.gov/ My combined income is more than $80,000 and my daughter still gets financial aid and qualifies for work-study. Complete the application. That is the only way you will really know.
- The federal government uses the EFC to determine "need." This will caluclate how much the government thinks you (read you and your family) should be able to contribute. Keep in mind that the school decides how much to provide. for an EFC estimate visit http://www.finaid.org/calculators/.
