People often ask "what is the every year Fafsa or Css Profile revenue limit that still allows my trainee to get college financial aid?" This is a logical question, right? The Irs uses all kinds of revenue limits for taxes. Loan clubs have revenue limits for borrowing money. Colleges have grade point, Act, or Sat limits for awarding money. So what's the revenue limit for getting college financial aid?
There is none. There are no revenue limits for college financial aid.
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College financial aid is a very complex calculation which utilizes trainee and parent revenue and assets, number of students in college, the cost of the college, number of taxes paid, and a whole host of other facts to settle what a trainee is eligible for. There are no hard and fast rules that says one family will get ,000, but the family making X number of dollars more will get nothing. In fact, I have seen situations where a family with revenue nearby ,000 per year received no financial help from a college, while a family making 0,000 received a pretty good chunk of money. The money the trainee is awarded is dependent upon the unique factors of that student's personel family.
Now there are some pieces of financial aid which have Efc (expected family contribution) limits attached to them such as Pell Grants, Seog grants, and obvious subsidized loans. But Efc and revenue are not directly correlated. There are also some personel colleges and universities which will have their own internal policies keyed to specific revenue levels, but these personel policies are not universal by any means. For example, Harvard University will cover the total cost of college for student's whose families make less than ,000 per year. But again, this is specific to Harvard. Also, students whose families make more than ,000 will be eligible for huge amounts of financial help specific to their unique circumstances.
Do not get hung up on any kind of revenue limits. All the time faultless the financial aid paperwork. If you have heard about some revenue limit above which students don't get any help, then your listening to useless rumor and inuendo.
Fafsa and Financial Aid wage Limits
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