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FAFSA

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Free Application for Federal Student Aid ("FAFSA") is an application completed by all students interested in receiving financial aid for postsecondary education.[1]

The U.S. Department of Education provides all eligible individual with the benefit of federally funded financial assistance beyond high school.[2]

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Contents

Overview

The Free Application for Federal Student Aid ("FAFSA") is an application used for applying for federal educational aid.[3] FAFSA is used to determine the expected family contribution based on the family's financial history. An expected family contribution is computed for every student even if the family does not contribute to their higher education.[4]

Numerous federal student aid programs are available through the U.S. Department of Education to cover school expenses such as tuition and fees, room and board, books and supplies, and transportation.[5]

Some of the most popular federal aid programs used for postsecondary education are: (1) federal pell grant; (2) federal stafford loan; (3) federal PLUS loan; (4) federal work-study; and (5) federal perkins loan.[6]

Laws Regarding FAFSA

The Higher Education Act authorizes the federal funds necessary to support federal spending on education programs.[7]

Lawmakers designate guidelines that simplify the application process for federal student aid thereby increasing access to federal education funding. New laws streamline the applicaton process by mandating a two-page EZ-FAFSA for very low-income students. The education secretary also is required to provide prospective college students with an early estimate for their eligibility for financial aid. And, education institutions are ordered to provide financial-aid-offer forms used to inform students of their student aid awards. [8]



References

  1. http://www.fafsa.ed.gov/
  2. http://www.fafsa.ed.gov/
  3. http://www.fafsa.ed.gov/index.htm
  4. http://www.investorwords.com/5567/FAFSA.html
  5. http://www.fafsa.ed.gov/what010.htm
  6. http://www.fafsa.ed.gov/what010.htm
  7. http://www.agb.org/trusteeship/2008/novemberdecember/coming-soon-lots-more-federal-regulations
  8. http://www.agb.org/trusteeship/2008/novemberdecember/coming-soon-lots-more-federal-regulations

External Links

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