What is the income cutoff for financial aid eligibility?
• In addition to income, the FAFSA uses many other factors to determine eligibility for the available aid programs, including asset values, number in the household, and number in college. As a result, there is no specific cutoff determining eligibility. In fact, every student should be eligible for some form of assistance, and should therefore complete the FAFSA each year regardless of income.
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.
