Financial aid eligibility is based primarily on citizenship, academic status, and family finances, and can differ among federal, institutional, and state aid programs. Learn more.

Financial aid is funded by the federal government (Pell Grant, work-study, and Direct Student Loans are some examples), state governments, and colleges and universities.

To complete your financial aid applications you’ll need the full legal name, SSN, and date of birth for the student and any parent on the applications, as well as recent income and current asset information for all parties. Learn more.

Federally independent students are those that meet certain criteria (see this checklist) such as having dependents, being married, or pursuing a graduate degree. Colleges can also classify a student as independent due to extraordinary circumstances (such as abandonment by the parents). Independent students do not need to report parent financial information on the FAFSA, which may increase a student’s eligibility for financial aid. However, a greater eligibility for financial aid does not guarantee an increase in the amount of financial aid offered, so independent students do not necessarily have an advantage in the financial aid process. Their own financial information is also evaluated differently than that of dependent students. Learn more about independent students

International students are not eligible for federal or state financial aid. Some colleges do provide institutional aid (their own funds) to international students, but that differs from school to school. And though most U.S. private scholarship organizations are only open to U.S. citizens or permanent residents, some do award prizes to international students. Learn more

Yes, the financial aid deadline at schools is usually before students are notified of their acceptance, so you should send your FAFSA and anything else required to every school where the student has applied. Do not wait until the student receives an offer of acceptance, as often, financial aid has run out by that time. If you submit your FAFSA to a school that ultimately does not accept the student, the school will simply delete the FAFSA information received.

Financial aid is intended to cover costs within the school’s cost of attendance, including tuition, mandatory fees, housing (including off-campus housing such as apartments and fraternity/sorority houses), food (including both dining plans and food cooked at home), books, supplies, transportation (such as a bus or subway pass), and personal expenses.