Federal Student Aid (2024)

FAQs

Do I have to answer all FAFSA questions? ›

If you're filling out the FAFSA form online, the form will show questions we need you to answer. You won't be able to continue through the form without answering necessary questions. If you're completing the FAFSA form on paper, the instructions will guide you towards which questions are required.

Request Additional Federal Student Loans

If you've exhausted other options and still need additional funds to help you pay for school, contact your school's financial aid office to find out if you're eligible for additional federal student loans.

Other reasons for financial aid disqualification include: 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.

For instance, you might no longer meet one of the basic eligibility criteria, or you might have changed majors and no longer be enrolled in a program that makes you eligible to receive a specific type of funding (for instance, a Teacher Education Assistance for College and Higher Education [TEACH] Grant).

Students selected for verification of their FAFSA form may wonder, “Does FAFSA check your bank accounts?” FAFSA does not directly view the student's or parent's bank accounts.

Some types of information that might be verified include income, taxes, education tax credits, child support, high school completion status or number of members in your household. You can reduce the chances of a verification by importing information from your FAFSA directly from the IRS's data retrieval tool.

There is no set income limit for eligibility to qualify for financial aid through. You'll need to fill out the FAFSA every year to see what you qualify for at your college. It's important to make sure you fill out the FAFSA as quickly as possible once it opens for the following school year.

There are a few common reasons why the Federal Processor will reject an application: Missing signatures, inconsistent marital status with income, taxes paid are equal to or higher than adjusted gross income, citizenship questions are blank, marital status and family members blank, etc.

What Are the FAFSA Income Limits for 2024? Both students and their parents often think their household income makes them ineligible for financial aid. However, there's no income limit for the FAFSA, and the U.S. Department of Education does not have an income cap for federal financial aid.

Why don't I qualify for a Pell grant? ›

Federal Pell Grants usually are awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor's, graduate, or professional degree. (In some cases, however, a student enrolled in a postbaccalaureate teacher certification program might receive a Federal Pell Grant.)

Based on your answers to certain questions on the Free Application for Federal Student Aid (FAFSA^®) form, you may be given the option to skip additional questions. If you're given the option to skip questions, keep in mind that doing so won't affect your eligibility for federal student aid.

A mistake on your FAFSA can delay the processing of your application for financial aid. If your FAFSA is verified and contains errors, it can cost you.

Borrow only what you need! If your living expenses are not going to be as high as the amount estimated by your school, you have the right to turn down the loan or to request a lower loan amount. Your school will tell you how to do this in the aid offer.

If you're selected for verification, your school will request additional documentation that supports the information you reported. Don't assume you're being accused of doing anything wrong. Some people are selected for verification at random; and some schools verify all students' FAFSA forms.