Can FAFSA Cover Full Cost Of College

Q: Is it possible to get enough money from FAFSA to pay for all of your tuition and college expenses?

A: Typically, a student will not be able to cover all of their college tuition costs and college expenses with FAFSA. If you have received an EFC of 0 from FAFSA, this does not mean that the government will simply provide you with enough grants and loans to cover all of your college expenses. All an EFC of 0 means is that you will be receiving the maximum federal financial aid available.

For example, a first year undergraduate student can receive a Federal Pell Grant at a maximum of $5,500 and $5,500 in Direct Stafford Loans, with no more than $3,500 of this amount in subsidized loans. If a first year student receives the maximum from federal financial aid, and if their first year of college costs were under $11,000 (extremely unlikely), only then would FAFSA cover the full college costs. Students could receive more federal financial aid through the Parent PLUS Loan Program, but this would be only if their parents are willing to take out a Parent PLUS Loan and if their parents met the eligibility requirements.

Some students can receive a substantial amount of money from federal student aid programs, while others may not receive much at all. Regardless of what you receive from FAFSA (or anticipate receiving from FAFSA) it is always worth applying for. Federal grants offer free money for college, and federal student loans offer some of the lowest interest rates and best repayment options available. Any amount of money a student receives from FAFSA will most likely be cheaper than borrowing money from the private sector.

Will FAFSA Refund The Money For A Class I Drop

Q: I have received money from FAFSA to help pay for my…

FAFSA And Transferring To A New College

Q: If I have decided to transfer to a new college, but…

7 Reasons To Apply For Federal Student Loans First

Most college students will need some type of financial aid to help…

Do Bad Grades Affect College Financial Aid

Q: Do bad grades affect what a student receives for college financial…

Is FAFSA Free Or Is There A Fee

Q: I am getting ready to apply for FAFSA to see if…

5 Commonly Asked FAFSA Questions

1. When I apply for FAFSA and receive funds, will I have…

FAFSA For Students Attending One Semester

Q: If a student starts college in the fall semester, but takes…

The FAFSA EFC, PIN, And SAR Explained

What Is The FAFSA EFC? The FAFSA EFC stands for Expected Family…

Federal Student Loans
Understanding Federal Student Loan Forbearance

Federal student loan forbearances will temporarily postpone repayment of principle balance and…

Federal Student Loans
7 Reasons To Apply For Federal Student Loans First

Most college students will need some type of financial aid to help…

Federal Student Loans
Will I Receive The Same Amounts Of Financial Aid Each Year

Q: I am a new college student, and have just received my…

Federal Student Loans
Will FAFSA Refund The Money For A Class I Drop

Q: I have received money from FAFSA to help pay for my…

Federal Student Loans

Questions For CollegeWhale

Have a college financial aid question? CollegeWhale.com is full on answers! Type your question in the search box to get started.

Sign Up To Win Scholarships

Sign up for The CollegeWhale.com Weekly Scholarship Round-Up, and let us bring the scholarships to you! Get a list of new available college scholarships delivered to your inbox each week.

sign upsign up