What is the income cutoff for financial aid eligibility?
There is no income cutoff for financial aid. All the information reported on the FAFSA, included family size, number in college and assets are used in a formula to determine eligibility for financial aid programs based on need. However, any student who completes a FAFSA, meets the basic federal eligibility requirements and who has not previously defaulted on a federal student loan, will be eligible for a Federal Stafford Loan. You can get and estimate of your expected family contribution from the federal website at www.studentaid.ed.gov using the FAFSA4caster. When you get to the site click on “Tools and Resources”. FAFSA results alone however, can only be used to estimate your eligibility for federal financial aid programs.
There is no income cutoff for federal financial aid eligibility. In addition to taxable and untaxable income, factors such as family size, number of family members in college, taxes paid, parents’ age and net value of assets are used to determine the amount families are expected to contribute to the student’s educational costs. All families who feel they need financial assistance should apply.
There is no income cutoff since income alone is not the only consideration. For need-based aid, we consider income, tax liability, family size, medical expenses, standard living expenses, where you live in the country (some areas are more expensive than others), your parents’ assets, their ages and whether they have protection for their retirement years. So many factors make each family’s financial situation unique that we cannot make our judgments on income alone.
There is no income cutoff since income alone is not the only consideration. We consider income, tax liability, family size, medical expenses, standard living expenses, where you live in the country (some areas are more expensive than others), your parents’ assets, their ages, whether they have protection for their retirement years, etc. So many factors make each family’s financial situation unique that we cannot make our judgments on income alone.
There is no income cutoff since income alone is not the only consideration. For need-based aid, we consider income, tax liability, family size, medical expenses, standard living expenses, where you live in the country (some areas are more expensive than others), your parents’ assets, their ages and whether they have protection for their retirement years. Many factors make each family’s financial situation unique that we cannot make judgments on income alone.
