Both scholarships and grants are types of financial aid to pay for college, they’re not the same. Grants are a form of financial aid, based on need, which you do not have to repay. Grants are generally awarded by federal and state governments for students attending colleges, career schools, and …
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Small Business Exclusion
Starting July 1, 2026 the Small Business Exclusion will be restored. The net worth of small businesses and family farms when calculating aid eligibility will be excluded. It will also apply to the 2026-2027 award year. FAFSA Simplification Act Changes for Implementation in 2024-25 and 2025-26 …
Maximizing Your Financial Aid Eligibility
Believe it or not, there are strategies for maximizing your eligibility for need-based student financial aid. These strategies are based on loopholes in the need analysis methodology and are completely legal. We developed these strategies by analyzing the flaws in the Federal Need Analysis …
Award Letters
After you submit your application for financial aid, you will receive a financial aid award letter from the college(s) to which you applied, typically in early to mid-April. This letter spells out the details of your financial aid package. A financial aid package is a collection of different types …
FAFSA
The Free Application for Federal Student Aid (FAFSA) must be completed to apply for federal and state financial aid. Many colleges and universities, especially public institutions, require the FAFSA. The FAFSA must be submitted every year to obtain financial aid for college. How to Obtain the …
Household Size
Household Size and Number in College The rules for including someone in household size are as follows: The rules for including someone in number in college are as follows: These definitions are based on Sections 474(b)(3), 475(f), 480(k) and 480(l) of the Higher Education …
FAQs about Financial Aid
Here are some of the most common topics about financial aid. General Questions about Eligibility and Applying FAFSA Questions Home Schooling and Financial Aid Divorce and Financial Aid An entire section of Finaid is devoted to the topic …
Other Types of Aid
There are opportunities for aid outside of scholarships and financial aid; you just have to know where to look. Other types of aid come from a variety of sources, like federal and state governments, the military and employers. Sometimes, students are able to automatically qualify, while other times, …
Financial Aid Applications
To apply for student financial aid from the federal government, including Direct loans and work-study, students need to submit financial aid applications. The most important financial aid application is the Free Application for Federal Student Aid (FAFSA). Students should apply for aid every year by …
Professional Judgement
The Free Application for Federal Student Aid (FAFSA) does not provide families with a place to explain special circumstances affecting their ability to pay for the student's education. The Federal Need Analysis Methodology (FM) is likewise a rigid formula, with no provisions for exceptions. To …
