<p>FAFSA is a screening program that determines your eligibility for federal student loans and grants. Once a student is deemed eligible for federal loans and grants, those are awarded by the college itself.</p>
<p>Some colleges promise to meet 100% of a student’s need. Since federal loans and grants are rarely enouh to cover the full cost of attendance at a school, those schools make up the difference with their own money. Those additional grants are called “institutional” grants.</p>
<p>Most colleges, though, don’t promise to meet 100% of a student’s need. So, a student can get whatever federal loans and grants he or she is eligible for, and perhaps some institutional aid . . . but, after that, the student’s family will have to come up with the rest of the money itself.</p>
<p>(oops - cross-posted with KatMt!)</p>