How much does the FAFSA cover?

thumper1
Fri, 15 Dec 2017 00:57:27 +0000

FAFSA is a financial aid application form. It does NOT award financial aid. The information on it is used to determine your eligibility for federally funded need based aid.

When you completed the FAFSA, you should have gotten a SAR with an EFC on it. What was that EFC number? If it was $0, you would get a $5900 Pell Grant guaranteed…and you could take a $5500 student loan in your name.

That totals $11,400 for the FULL year.

At this point…from what you are posting…that barely covers your room and board costs which are almost $10,000 for the year.

What is the total cost of attendance at this college…not just room and board…but the total cost to attend? This would include tuition, fees, room and board.

If your EFC is $0…the $11,400 will likely cover the cost of a community college for the year…but probably won’t cover a four year residential college including living on campus.

Don’t count on the FSEOG…as cutting it is in the Prosper guidelines being discussed for higher education at the federal level.