Federal Student Aid (2024)

FAQs

Why did FAFSA give me so little? ›

This can happen. The FAFSA relies on two-year-old tax information. Or your family may be facing big expenses that the FAFSA didn't ask about. If your financial aid offer seems way off, contact the college's financial aid office.

Students must be in good academic standing to receive federal aid. The required GPA varies from school to school, but typically students need a 2.0 or higher. If your grades fall below the minimum GPA, you could lose eligibility for financial aid. See also: What GPA do you need to get a full scholarship?

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.

You'll get a pass if you are below the income threshold for the year and file certain types of tax returns. Certain states, like California, do require you to answer questions about assets to determine eligibility for state aid, even if you aren't required to answer those questions for federal aid purposes.)

Technically, no income is too high for the FAFSA. The U.S. Department of Education recommends filling out the FAFSA yearly, regardless of income. However because FAFSA is needs-based aid, those from lower-income families with a greater financial need get access to more financial aid.

In most cases, due to the IRS Data Retrieval Tool for the 2023–24 FAFSA form, you won't have to verify income and tax information. However, if you are selected for verification, the school may ask you to submit a tax transcript or other documentation to confirm the information you reported.

To determine eligibility, the information on your FAFSA is used to calculate your Expected Family Contribution (EFC). Your EFC is used to determine your eligibility for a Federal Pell Grant, school-based aid, and Federal Subsidized Stafford and Direct Subsidized Loan Programs.

Is it bad to skip student assets on FAFSA? ›

If you're given the option to skip questions, keep in mind that doing so won't affect your eligibility for federal student aid.

There are a number of reasons why a student's financial aid may not have been disbursed to their account. They include but are not limited to the following: The student failed to submit all requested documents. The student is not actively enrolled in at least one course (Federal Pell Grant disbursem*nts).

Some of the most common reasons your grant funds may be reduced are: You didn't enroll full time. Pell Grants are prorated for part-time enrollment, You didn't begin attending all of your classes before the financial aid lock date.

According to the office of federal student aid, some applications can be denied because applicants did not meet the basic eligibility requirements. These include: Having demonstrated financial need for need-based federal student aid programs. Being a U.S. citizen or an eligible non-citizen.