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Federal Student Aid (FSA), an office of the U.S. Department of Education, is the largest provider of student financial aid in the United States. Federal Student Aid provides student financial assistance in the form of grants, loans, and work-study funds.
Financial aid is available from federal and state governments, educational institutions, and private organizations. It can be awarded in the form of grants, loans, work-study, and scholarships. In order to apply for federal financial aid, students must first complete the Free Application for Federal Student Aid .
Maximum amount (2023-24) Who is eligible? Pell Grant. $7,395 per year. Undergraduate students with financial need, some postbaccalaureate teacher certification students
FAFSA originally came from the 1965 Higher Education Act (HEA) by President Lyndon Johnson, this established the United States Government as the primary provider of financial aid for students. For years the application was called Financial Aid Form (FAF), which was an optional form used by some—but not all—colleges and universities.
The new FAFSA, which will be used to determine financial aid eligibility for the 2024-25 academic year, is shorter and easier to fill out. Additionally, many low-income borrowers are expected to ...
The Free Application for Federal Student Aid (FAFSA) application will be delayed this year, which may worry some college applicants. (Credit: Getty Images) (designer491 via Getty Images)
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