What is the official purpose of FAFSA?

The FAFSA isn’t just for people who want or need federal student loans. The purpose of the FAFSA is also to determine aid you won’t have to pay back, like college scholarships, grants, and even work-study funding. Finally, some private scholarships require a FAFSA as part of their application process.

What is FAFSA in simple terms?

FAFSA is an acronym that stands for the Free Application for Federal Student Aid. Colleges and universities use this form to determine your eligibility for federal, state, and college-sponsored financial aid, including grants, educational loans, and work-study programs.

What is a FAFSA and what does it determine?

The Free Application for Federal Student Aid, or FAFSA, is the form that determines your financial aid from the government and most colleges. The form collects personal and financial information from students and parents, and applies a formula to determine your Expected Family Contribution, or EFC.

What is the purpose of the FAFSA or Free Application for Federal Student Aid select 2 answers quizlet?

Free Application for Federal Student Aid: This is the application that a student fills out in order to request financial aid, student loans, certain scholarships, or a work study program.

Why is financial aid important?

Financial aid gives students the means to afford and attend college, university, and trade school. Basically, it helps students pay for the rising costs of higher education — tuition, room and board, books and supplies, and transportation.

What is the purpose of the FAFSA quizlet?

It’s a need-based student loan offered by the U.S. Department of Education to assist American college students in funding their post-secondary education. Your school is the lender; you will make the payments to the school that made your loan.

What is the best definition of financial aid?

Financial aid is money to help pay for college or career school. Grants, work-study, loans, and scholarships help make college or career school affordable.