The Ultimate Guide to Financial Aid and FAFSA for College Students

Marilyn Rodriguez Updated by Marilyn Rodriguez

Financial aid is crucial for incoming college students. This in-depth guide gives college students all the resources they need to successfully apply for the FAFSA and fund their college costs.

Stimulus Bill Update: The new COVID-19 Stimulus bill that was just passed includes legislation to increase widespread access to federal student aid and streamlining the FAFSA process. More than 13 million students in the US receive nearly $150 billion in financial aid through FAFSA each year, but this bill will work to expand that and help the students who need it most gain access.

The FAFSA application will now be simplified – with the test reduced from 108 questions to just 36, with many answers able to automatically be filled in from tax filings. The simplifications will help to remove one of the biggest barriers to pursuing a higher education for low-income students, who complete the FAFSA application at a rate of 7% less than their higher-income peers.

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