Michelle answers:

FAFSA amounts are based on (1) level of financial need… For example, someone living in trur poverty might get the full amount of pell grant (2) set limits, if the student meets the general criteria of need, then student loans are offered. Those loans are a set amount based on what your level of education is… For example your first year is lower than your second year for available loan amounts

FAFSA has other factors such as meeting academic criteria

If you meet all of the criteria to be eligible for FAFSA generated aid…. Then the amount of the aid you receive does not change based on what college you choose to attend

in most cases, it is not enough to cover an in-state university’s total cost of tuition, fees, and books… Generally speaking, it is designed to cover the cost of community college & in some cases less expensive state/public universities

to answer your question… NO, FAFSA generated funding will not increase to cover out-of-state tuition

Michelle answers:

FAFSA will only contact you to let you know that your Student Aid Report (SAR) is ready for you to view. This is a copy of your completed and processed FAFSA and can be seen on the FAFSA website. The SAR will not, however, tell you what aid you will be receiving.

You need to wait to hear from your school(s). Each one will send out an ‘award letter’ after they have received and viewed your FAFSA and have determined what aid you are eligible for. This is usually around early March. The award letters will state everything that you are receiving from the school to attend there. It can include grants, scholarships, loans, and work-study. It will also state what remainder of your education needs to be paid out-of-pocket, if any.

Your award letters will be sent from your schools via mail, email, or will be available for you to view on their financial aid website. Call and ask the financial aid office at your schools of interest to ask when and where you will be able to view your award letter.

Michelle answers:

Fafsa.com is a scam. They will charge you for their “services” and I’ve heard of them screwing up fafsa forms. Delete any forms with them and fill out the fafsa at fafsa.ed.gov immediatley. Don’t worry, it should be straight forward and you can look to the side of the page for information on how to fill out each space. If you have any questions, contact help through that site. Any source that charges for help with the fafsa is a scam.

Michelle answers:

1. Yes, you have to renew your FAFSA application EVERY year.

2. Yes, you have to use your parents tax return if you are under 24, not married, or claimed as a dependent.

3. If you EFC is 0 (that is, that you can’t contribute financially to your education), you will get approx. $4,000/yr. This will probably not cover housing. You will need student loans for housing.

Information on Aid:

Financial aid administrators and guidance counselors from around the country agree that the following tips speed up the application process.

Important: Read the instructions!
Many questions on the FAFSA are straightforward, like your Social Security Number. But many questions are asked specifically for purposes of student financial aid. Common words like “household,” “investments,” and even “parent” may have special meaning. Read all instructions carefully.
Apply Early!
State and school deadlines will vary and tend to be early. Check with them to find out their exact deadline dates.

Federal Student Aid will process your FAFSA if it is received on or before the deadline. However, in order for you to actually receive aid, your school must have correct, complete FAFSA information before your last day of enrollment.

Complete Your Tax Return!
We recommend that you (and your parents if you are a dependent student) complete your tax return before filling out your FAFSA. This will make completing the FAFSA easier. If you have not filed your tax return yet, you can still submit your FAFSA but you must provide correct income and tax data once you have filed.

Save Time: File Electronically!
Complete and submit your FAFSA online. It is the fastest and most accurate way to apply for student aid.

Ask: Do I Need Additional Forms?
Many schools and states rely on the FAFSA as the single application for student aid. However, it would be wise to check with your state agency and the financial aid office at the school that you plan to attend to find out if they require additional forms.

Why fill out a FAFSA?

The (Free Application for Federal Student Aid), or FAFSA, is the first step in the financial aid process. Use it to apply for federal student financial aid, such as the Pell Grant, student loans, and college work-study. In addition, most states and schools use FAFSA information to award their financial aid. For instructions on how to complete the FAFSA, select Completing the FAFSA.

Why all the questions?

We enter your FAFSA responses into a formula (known as the Federal Methodology), which is regulated by the Higher Education Act of 1965, as amended. The result is your Expected Family Contribution, or EFC. The EFC is a preliminary estimate that measures your family´s financial strength. It is subtracted from the Cost of Attendance at the school(s) you plan to attend to determine your eligibility for federal student aid.

How do I find out what my EFC is?

We will send you a report, called a Student Aid Report, (SAR), by e-mail or by postal mail depending on the addresses that we have on file for you. The SAR lists the information you reported on your FAFSA. At the upper right of the front page of the SAR, you´ll find a figure called the EFC.

How much aid do I get?

Schools use your EFC to prepare a financial aid package (grants, loans, and/or work-study) to help you meet your financial need. Financial need is the difference between your EFC and your school´s cost of attendance (which can include living expenses).

TIP: If you or your family have special circumstances that impact your financial situation, contact your school´s financial aid office. Some examples include: unusual medical expenses, or a large change in income from last year to this year.

When do I get the aid?

Your financial aid will be paid to you through your school. Typically, your school will first use the aid to pay tuition, fees, and room and board (if provided by the school). Any remaining aid is given to you for your other expenses.

Where can I get more information about student aid?

The financial aid office at the school you plan to attend is the best place to get information about federal, state, school and other sources of student financial aid.