Who qualifies for financial aid?
All U.S. citizens and many non-citizens enrolled in higher education
may be eligible for financial aid.
Financial aid programs are often based on financial need. Aid may be awarded for test scores, athletic ability, military service, or other affiliation. Regardless of the
family financial situation, most students qualify for some type of financial
aid.
File the FAFSA
- Early filing of the FAFSA (Free Application for Federal Student Aid) is critical:
It is the first step in the financial aid process. Most states and schools use the FAFSA results to award their financial aid.
- The deadlines for your state or schools may be different and you may be required to complete additional forms.
- If you wait too long to submit your application, you may miss your school’s deadline.
- State or school funds may run out. Remember to apply early.
Other reasons to file early:
- The results of the FAFSA are used by the college to determine financial
aid amounts such as federal and state grants, student loans, work study
and some scholarships.
- The FAFSA determines the amount of money a student and/or family is expected to contribute toward the price of attending a postsecondary institution.
- Oficina de ayuda Federal para estudiantes FAFSA
- ¿Por qué hay que llenar la FAFSA? Llenar la Solicitud Gratuita de Ayuda Federal para Estudiantes (FAFSA, por sus siglas en inglés) es el primer paso en la gestión de ayuda económica estudiantil.
- Take advantage of the FAFSA4caster - Español FAFSA4caster
Some of the data will automatically be entered into your FAFSA on the Web application when you officially apply for federal student aid.
- FAFSA4caster is not just a tool for high school juniors.
- Parents of younger students can receive early estimates, create scenarios based on future earnings, and then establish college savings strategies.
- Non-traditional college students (adult learners) can get an idea of how much federal aid they may qualify for.
- Use the glossary - Glosario de términos
- Become familiar with common financial aid terms. Consult this useful tool when completing financial aid applications.
Develop a plan
Your eligibility may change each
year
- Income and assets are key to determining your expected family contribution, or EFC.
- In Minnesota, there is no simple financial aid cutoff based on income.
- The number of family members in college can significantly affect your eligibility
for aid. The more family members enrolled in higher education, the higher
your need for financial assistance.
- When estimating your education budget, various factors may result in increases or decreases in your eligibility for financial aid.
- Calculate your college cost and financial aid eligibility.
- Financial
aid deadlines vary. Be sure to check with the school you plan
to attend.
More information
Source: Minnesota Office of Higher Education.
Page last updated in February 2008.
Financial Aid
