The Free Software for Federal Scholar Support (FAFSA) is a kind that U.S. residents and eligible non-citizens should full to use for federal scholar support, together with grants, loans, and work-study packages. The shape collects monetary data from the coed and their dad and mom (if the coed is a dependent) to find out the coed’s Anticipated Household Contribution (EFC), which is then used to calculate the quantity of monetary support the coed is eligible to obtain. For instance, a scholar with a low EFC may qualify for a Pell Grant, which doesn’t should be repaid.
Federal scholar support packages play a vital function in making increased training accessible to a wider vary of scholars, significantly these from low- and middle-income households. These packages have an extended historical past, evolving from the Nationwide Protection Training Act of 1958 to the Increased Training Act of 1965 and subsequent amendments. These initiatives have supplied essential help to tens of millions of scholars pursuing post-secondary training, in the end contributing to a extra educated and expert workforce. The advantages prolong past particular person college students, positively impacting the nation’s financial system and competitiveness.
