When I was researching online, I found out that fafsa can be received for a maximum of 6 years. I also found out that you can apply for fafsa during graduate school as well. If you use up your fafsa during undergrad for the 6 years, can you still receive fafsa for grad school or does the 6 year rule include grad school? Thank you in advance!
FAFSA is the name of the form you fill out to receive federal aid. In doing so, you may qualify to receive Pell grants and subsidized/unsubsidized loans. You may be awarded federal SEOG (grant) and/or federal work study by the school, which receives a pot of money to allocate among students who qualify for federal aid.
Pell grants, if the student qualifies, are limited. Each year the student qualifies, they can receive up to 150% of a full Pell award - percentage depends on number of credits taken in a semester, and the additional up-to-50% would be from summer enrollment. A student can receive up to 600% for their first undergraduate degree. Not every student will receive that much, but no student can receive more. https://studentaid.gov/understand-aid/types/grants/pell
Loans are limited by dependency status and year in school. There is also a limit on total loans at the undergraduate level. All graduate students are considered independent for financial aid & are eligible for unsubsidized loans and possibly Grad PLUS loans (credit check must be passed). There is a limit on loans per year & on total loans (undergraduate/graduate combined). https://studentaid.gov/understand-aid/types/loans
Grad students are eligible for loans only, and some schools may award federal work study to graduate students.
FAFSA is a form. It is not an entity that distributes money.
Yes, you can complete a FAFSA for grad school. This is needed to make you eligible for federally funded loans like the Direct Loan, and grad plus loans.
There is an aggregate total you can receive in Direct Loans. The amount for professional schools like medical school is higher but still might not cover your cost of attendance. That’s where the grad plus loan can fill in.
So there is no grant FAFSA fo grad school, just loans that you can apply for through FAFSA?
Please reread post #1. It’s by a financial aid expert.
@emmiekk if you are asking if there are guaranteed federally funded grants like the Pell Grant, no there isn’t anything like that for grad school students.
Most aid in grad school is based on the strength of your application and the college’s desire to have you in the grad cohort. Grad school aid comes in the form of assistantships, scholarships, fellowships. institutional grants, sometimes work study and loans.
There is no free money based on the fafsa form for grad school.
FREE APPLICATION FOR FEDERAL STUDENT AID
Our daughter is in a “graduate” medical-professional program. She is eligible for: loans, loans and more loans, so she fills out the application to take small loans.
If you didn’t receive financial aid in undergrad, it’s not something that is “saved up” for you for grad school.