Does the FAFSA give you money every year?

Does the FAFSA Give You Money Every Year?

The Free Application for Federal Student Aid (FAFSA) is a form that students fill out each year to determine their eligibility for federal student aid. This includes grants, loans, and work-study programs. So, does the FAFSA give you money every year?

The answer is yes and no. The FAFSA itself does not give you money, but it does determine your eligibility for federal student aid. This includes grants, loans, and work-study programs. Depending on your financial situation, you may be eligible for grants and/or student loans.

Grants are money that you do not have to pay back. The amount of grant money you receive is based on your financial need and the cost of attendance at your school. Grants are usually awarded on a first-come, first-served basis, so it is important to submit your FAFSA as soon as possible.

Student loans are money that you must pay back with interest. The amount of loan money you receive is based on your financial need, the cost of attendance at your school, and your credit history. You must also meet certain requirements to be eligible for student loans.

Generally, your school will give you your grant or loan money in at least two payments called disbursements. In most cases, your school must give you your grant or loan money at least once per term (semester, trimester, or quarter).

So, does the FAFSA give you money every year? The answer is yes and no. The FAFSA itself does not give you money, but it does determine your eligibility for federal student aid. This includes grants and student loans. It is important to submit your FAFSA as soon as possible to maximize your chances of receiving grant money and to ensure that you meet the requirements for student loans.