The Free Application for Federal Student Aid (FAFSA) is an important tool for students looking to pay for college. Every year, millions of students use the FAFSA to apply for federal student aid, including grants, loans, and work-study programs. But what is the maximum amount of money available with FAFSA?

The maximum amount of money available with FAFSA depends on the type of federal student aid. For example, the maximum amount of money available for a Direct Subsidized Loan is $3,500 for first-year students, $4,500 for second-year students, and $5,500 for the third year and beyond. For Federal Work-Study, there is no maximum amount of money available.

In addition to the maximum amount of money available with FAFSA, there are also FAFSA limits for the 2021-22 school year. For example, the maximum Pell Grant award for the 2021-22 school year is $6,495. The maximum amount of money available for a Direct Unsubsidized Loan is $12,500 for first-year students, $15,500 for second-year students, and $20,500 for the third year and beyond.

It is important to note that the maximum amount of money available with FAFSA is subject to change each year. The U.S. Department of Education reviews the FAFSA limits each year and makes adjustments based on the cost of living and other factors. Therefore, it is important to check the FAFSA website for the most up-to-date information.

Overall, the maximum amount of money available with FAFSA depends on the type of federal student aid. For example, the maximum amount of money available for a Direct Subsidized Loan is $3,500 for first-year students, $4,500 for second-year students, and $5,500 for the third year and beyond. The maximum Pell Grant award for the 2021-22 school year is $6,495. It is important to check the FAFSA website for the most up-to-date information about FAFSA limits and maximum amounts of money available.