What is threshold for FAFSA, do they stop giving aid after someone's income is over 70k,80k,100k,150k,200k?
I know you should apply for FAFSA, but I just wanna know what I can expect from it.
None of the above for qualifying for Federal Aid. It's 60,000 tops in most cases. It's very rare anyone's family making over $60,000 would qualify for a Pell Grant. Everyone needs to fill out a FAFSA to determine whether you get Fed. Aid. & to know what your EFC (expected family contribution) is. Colleges use the FAFSA to determine what your eligibility is for Inst. Aid like a grant or loan, work-study, etc. But to be clear, if your family is high income you get no Fed. Aid it's all up to the college you are applying to. You and your parents always have the option to take out private loans as well.
So I disagree heavily with fudge. The FAFSA is THE document used for aid at 99.9% of all American universities. (CSS is a companion) while FAFSA does determine if you receive pell grants it also the document used by the college to calculate institution aid. So even if the household income is 175k that would determine if you get any money from the college but you’d not get any from the federal government. Also the pell grant I’m not certain can award aid if is below 75k but after 60k its very minimal.
Here’s an article for more info!
Hope this helps and please comment if you need clarification as I’d be happy to help clarify!