Will I Get Financial Aid if My Parents Make Over 100k?
Are you worried that your parents’ income will disqualify you from receiving financial aid? You may be surprised to learn that there is no set income limit for eligibility to qualify for financial aid through the Free Application for Federal Student Aid (FAFSA).
Your parents’ income will be taken into consideration when determining your eligibility for financial aid, but it’s not the only factor. Your college will also consider your family size, the number of people in your family who are currently enrolled in college, and your assets.
If your parents make over 100k, you may still qualify for some financial aid. It’s important to fill out the FAFSA as quickly as possible once it opens on October 1st for the following school year. That way, you’ll know what kind of aid you qualify for and can make the best decisions for your future.
The FAFSA is the only way to apply for federal student aid, including grants, loans, and work-study programs. It’s also the only way to apply for state and college-sponsored aid. So, it’s important to fill out the FAFSA even if you think you won’t qualify for aid.
When you fill out the FAFSA, you’ll need to provide information about your parents’ income and assets. This information will be used to calculate your Expected Family Contribution (EFC). Your EFC is the amount of money your family is expected to contribute to your college education.
The EFC is used to determine your eligibility for federal student aid. If your EFC is higher than the cost of attendance at your college, you may not qualify for any federal aid. However, you may still qualify for state and college-sponsored aid.
It’s important to remember that your parents’ income isn’t the only factor in determining your eligibility for financial aid. You may still qualify for some aid even if your parents make over 100k. So, it’s important to fill out the FAFSA every year to see what you qualify for at your college.
In conclusion, there is no set income limit for eligibility to qualify for financial aid. If your parents make over 100k, you may still qualify for some financial aid. It’s important to fill out the FAFSA as quickly as possible once it opens on October 1st for the following school year. That way, you’ll know what kind of aid you qualify for and can make the best decisions for your future.
