Paying For College Thru FAFSA?

Question

If an online college charges $30,000 to attend will FAFSA cover most if your EFC comes out to be "0"?

Im a college freshmen and trying to learn how FAFSA works.

Thanks:)

Answer 1

$30,000 for an online school is a waste, attend a regular university or even community college for cheaper and they offer online courses.with a efc of 0, you are eligible for need based financial aid such as pell, map, seog, perkins loan etc., but there areplenty of people trying to get these funds so you have to make sure all paperwork is done on time especially if you end up being a file for verification. pell grants for the year have a max close to $4500 and map at about $3300 so you can do the math. even with loans you will still have out of pocket costs.

Answer 2

No.  FAFSA alone will not pay for a 30,000 a year school.  If this is the total cost for a degree for more than one  year it might, however.

The max a dependent freshman can borrow in Stafford loans is only 3,500 a year.  Plus, Pell grants (up to 4,700 a year if you have an EFC of zero) or Perkins loans and FSEOG if you qualify and applied early enough.  Quite a bit short of 30K a year.

Attend a cheaper brick and mortar school (take the classes on line) it'll be a heck of a lot cheaper and you won't have to come up with the extra money.