Is there an income cutoff for FAFSA? Told we make "too much" to qualify for aid

Your counselor gave you incorrect information. There is NO specific income cutoff for the FAFSA. The formula that calculates your Student Aid Index (SAI) - which replaced the old EFC - considers many factors beyond just income: family size, number of students in college, assets, age of parents, state of residence, etc. You should ABSOLUTELY fill out the FAFSA regardless of income for several important reasons: 1. Many colleges require FAFSA for merit-based scholarships (which aren't need-based) 2. Some financial aid programs have higher income thresholds than others 3. Having multiple children in college simultaneously significantly increases aid eligibility 4. Some schools have their own institutional funds with different formulas Even if you don't qualify for federal grants, you'll still be eligible for unsubsidized federal student loans which have better terms than private loans.

we make like 110k and my daughter still got some aid last year. not pell grants but she got workstudy and subsidized loans. better than nothing!

As someone who works in college financial aid, I can tell you definitively that EVERYONE should complete the FAFSA regardless of income level. Here's what many don't understand about the FAFSA process: - The SAI calculation is complex and considers many factors beyond just income - Having multiple family members in college simultaneously dramatically increases eligibility - Some colleges use the FAFSA as a gateway to their own institutional aid, which may have different formulas - Some states have higher income thresholds for their state-based aid programs - Certain loan programs require FAFSA completion but not financial need I've seen families making $150,000+ qualify for aid in certain circumstances. Complete the form - it typically takes less than 30 minutes if you have your tax information ready.

filling out fasfa was how i got merit schlorship at state university!!! the finacial aid ppl told me they wouldnt even CONSIDER me for merit $ without the fasfa on file. make sure u fill it out!!!

I had nearly the same situation last year with my daughter's applications. We make about $115K with two kids, and her high school counselor also told us not to bother with FAFSA. I almost didn't do it, but then read online that some colleges require it for merit scholarships. Thankfully I filled it out because: 1. She got $3000/year in state grants 2. She qualified for work-study 3. One private college gave her $15K/year in institutional aid If I had listened to that counselor, we would have literally left tens of thousands of dollars on the table over 4 years. FILL IT OUT!!!

Just to add onto what everyone else said - I'm so mad that high school counselors are still telling families this complete falsehood about income cutoffs! I've heard this from so many parents. There is NO INCOME CUTOFF for the FAFSA! The process doesn't work that way!! Yes, higher income reduces eligibility for need-based aid, but: 1. The formula is complex (not just income) 2. Different types of aid have different thresholds 3. Every college has different financial aid policies I'm a financial advisor and I tell ALL my clients to file regardless of income. Period.

Try calling Federal Student Aid directly if you have specific questions about your situation. I spent WEEKS trying to get through to them when I had questions about my daughter's unusual income situation (she has a trust fund from her grandparent). I finally used this service called Claimyr (claimyr.com) that got me connected to an actual FSA agent in about 10 minutes instead of waiting on hold for hours. You can see how it works here: https://youtu.be/TbC8dZQWYNQ The agent I spoke with was super helpful and explained exactly how different types of income and assets are counted in the formula. Turns out I was filling out a section completely wrong that would have disqualified us from aid we were actually eligible for.

Can someone explain what the difference is between the SAI and the old EFC? I filled out FAFSA years ago for my oldest and now I'm confused by all these new terms. Is the process completely different now?

i think u should do it no matter what. my cousin's famly makes like 200k and they still got some kind of aid package from NYU. not like pell grants but some kind of university discount i think? plus the loans options

Thanks everyone for the helpful responses! I'm definitely going to fill out the FAFSA now. It's crazy that counselors are giving such wrong information to families. I wonder how many people don't apply and miss out on aid because of this...

This is such important information! I'm a newcomer here and facing a similar situation with my daughter who's a junior in high school. Our household income is around $105k and I was also told by someone at her school that we "make too much" for financial aid. Reading through all these responses has been eye-opening - I had no idea that there wasn't actually a hard income cutoff! I'm definitely going to bookmark this thread and make sure we fill out the FAFSA when the time comes. It's honestly shocking that high school counselors are giving out such misleading information. How many families are missing out on thousands of dollars in aid because of this? Thank you all for sharing your real experiences and clarifying how the process actually works!

As someone who just went through this process with my twin daughters, I cannot stress enough how important it is to fill out the FAFSA regardless of income! We make about $120k and I almost didn't bother because of similar advice from well-meaning people. Here's what we actually received: - Both girls got work-study opportunities ($2,500/year each) - One daughter received a $2,000 state grant - Both qualified for unsubsidized federal loans at much better rates than private loans - One private college offered $8,000/year in institutional aid (they required FAFSA for consideration) The process took me maybe 45 minutes total once I had our tax documents ready. For the amount of aid we received, that's probably the best hourly "wage" I've ever earned! Also, some important timing advice: many states and colleges have limited funding that's distributed on a first-come, first-served basis. Even if you think you won't qualify for much, getting your application in early can make the difference between getting something versus nothing.