Exactly what the title said, does covers your Bachelors Degree?
If you are a US citizen and would like federal financial aid then you have to fill out FAFSA. There is a limit on how much funding (grants and loans) you are allowed to have.
FAFSA is an application (Free Application for Federal Student Aid) that you fill out to give information to the colleges and to the government.
If the information on your FAFSA application indicates that you are eligible for federal help, then you might get a little funding from the government. https://fafsa.ed.gov
Based on the information you and your parents provide annually on the FAFSA, the colleges make up a financial aid package of loans, grants or scholarships, if your college has that money.
FAFSA is not a scholarship. It’s an application.
Thanks for the answers
NO.
federal aid is not much. So, no, the fed aid you’d get from filling out FAFSA will NOT cover a Bachelor’s degree.
thank you very much, i was looking for a Yes/No answer
Yes/no to what, what does ‘cover’ mean to you? Last for 4 years? Pay for everything? When you are coming from a place of little knowledge, it is a good idea to listen to all info provided in case you learn something new or helpful.
Your title makes no sense
No, your parents and you also pay.
No every question can be answered with yes or no, particularly a question that does not make sense.
what don’t you guys understand? i am still a junior in high school so correct me if i am wrong, when i say bachelors degree that obviously means a 4 year degree right? and when you say covers, you obviously think about if it pays for a certain fee, so what i want to know is exactly that. does financial aid pays for the fee of a four year degree?
Financial aid policies vary wildly from college to college. Even if you have a $0 family contribution (EFC per Fafsa), that does NOT mean you will have full financial aid to cover your college costs…even for one year.
You would be eligible for Direct Loans of $5500 freshman, $6500 sophomore, $7500 junior, and $7500 senior years.
You might receive a Pell Grant or part of it if your FAFSA EFC is less than $5000. You can get that for the equivalent of six years in college as an undergrad.
Some schools have SEOG which would be four years IF your get it…no guarantees. Your state might also have need based aid.
Usually need based aid awarded by the colleges is for four years only…merit aid too. So if it took you longer to complete a bachelors, then you would need to fund it some other way.
But the reality is…the vast majority of colleges do not meet full financial need.
What don’t you understand about all the responses you’ve gotten thus far? FAFSA is a federal application that you fill out. If you meet the criteria - ie, low income - you may qualify for a Pell grant. This is a small amount, comparitively, and will not cover or “pay the fee” for your degree by any means. As it’s federal, this is only for citizens/perm residents. You can also get a federal loan, but this doesn’t seem to be what you’re asking.
“Financial aid” is a very vague term, and differs by school and individual situation, which is why there is no yes or no answer to your questions. Some students will not get any aid and some will get much aid. It depends on the situation. Are you an international student? It doesn’t seem like you’re familiar with American higher education.
The full Cost of Attendance is different for different colleges and universities. That means it is hard to say whether or not your costs could be covered by money you qualify for from the federal government by filing the FAFSA.
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You can take out Federal Student Loans of $5,500 freshman year, $6,500 sophomore year, $7,500 junior year, and $7,500 senior year.
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If your family income and assets are low enough to qualify for a full Pell Grant each year, that is about another $5,500. Most families don’t qualify for Pell Grants, let alone the full one.
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If your parents apply for a PLUS loan, and aren’t approved, you can borrow another $4,000 each year.
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If your family income and assets are low enough, and your college awards Federal Work Study money, then you could receive a maximum of about $4,000 in Work Study, but only if you do get that job at college and work the hours to earn it.
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If your family income and assets are low enough, and your college also awards some Perkins Loans, that could be worth a maximum of about $5,500. But not all colleges award those at all.
So the short answer is that YES in some cases, a freshman student could receive in the range of $24,500 from the federal government which would cover the full Cost of Attendance at some colleges and universities. But the real answer is that NO, in most students do not receive anything near that amount of money because what they can receive depends on the their family situations and what their colleges and universities actually offer. The only thing that all students who file the FAFSA are guaranteed is that Federal Student Loan. There are a lot of community colleges where a freshman loan of $5,500 will cover tuition and fees, but you would still need to find other money somewhere to pay for your books and materials and your commuting costs from home.
Some states and some colleges and universities have their own money to give out for financial aid, and also use the results from the FAFSA to determine that. You need to speak with your high school guidance counselor and find out whether your state offers any financial aid. To get an idea of what each college or university on your list might offer, run the Net Price Calculator at its website.
(Pretty soon another parent who knows the exact limits for Pell, Federal Work Study, and Perkins will come along and give a more accurate maximum total.)
The answer is no. FAFSA is a fed app for fed aid. Fed aid isn’t much.