FAFSA stands for Free Application for Federal Student Aid and it is one of the most important forms of student aid in the USA.
There is an application form that students in the United States must complete to determine their eligibility for student financial aid to attend college or university, with this financial aid including grants, scholarships, work-study programs and student loans.
The FAFSA form is used by the US Department of Education to calculate a student’s Expected Family Contribution (EFC). The EFC is a measure of how much the student and their family can reasonably afford to pay for college expenses and takes into account the family’s income, assets, and other financial information.
Does FAFSA help with student living expenses?
The answer is yes, FAFSA can help with student living expenses.
When a student submits their FAFSA, they may be eligible for financial aid in the form of grants, scholarships and loans, which can be used to cover a variety of educational expenses, including living expenses. Living expenses may include housing, food, transportation, and personal expenses.
The amount of financial aid a student can receive to cover living expenses will depend on their financial need, as determined by the Expected Family Contribution (EFC) calculated from the FAFSA.
The financial aid package offered to a student may cover some or all of their living expenses, depending on the cost of attendance at the school they attend and the financial aid programs they qualify for.
In addition to financial aid, some colleges and universities offer work-study programs that allow students to earn money while they attend school.
Work-study programs may provide students with part-time jobs on campus or in the local community, which can help cover living expenses.
Planning for student living expenses
It’s important to note that not all financial aid programs are designed to cover living expenses, so students should carefully review the financial aid package they receive to understand which expenses are covered and which are not.
Additionally, it’s important for students to carefully manage their living expenses to ensure they are able to meet their financial obligations and avoid taking on too much debt.
