Goverment grants for University?
Does anyone know if this is true?:
If you have a job while apply for government grants, FASA, you will not get as much money becuase of you have a income?
Yes. sort of. FAFSA uses an equation primarily based income to determine necessity. However ther are many different “things.” FAFSA is determined by your last years income, not your current. This tends to work against people who are returning to school because it doesn’t take into account the severe drop in income once that person starts going to school and working less. Yet there is no true sliding scale, as in if you make this much you will get this amount. Furthermore if you are under 23 your income doesn’t play a factor in that it reallies primarily on your parents income.
FAFSA works in three levels: A)There is a certain amount of aid set aside for Gov grants each year and based upon how many people enroll it is then divided up. B) Determine the cost of the particular school’s enrollment (i.e. you won’t get the same amount for a JC as you would a big university) C) determine eligibility (usualy around 24,000) based upon all applicants.
If all three qualifications are met FAFSA determines how much money you should be able to pay for school and then subsidizes the rest. Most of the time FAFSA will count on you, if elligible, to pay for upwards of 1/3 of your own tuition. However it will also account for the fact that you might not be able to do so and it will then automatically acount for this by way of federally subsidized student loans which offer low interest rates and do not accrue interst until after you graduate.
So, short and sweet, yes FAFSA is determined by your income. Parents before 23 and your own afterwards. But no, having a current job while applying for FAFSA will not affect you because your earning will be applied to next year’s taxes and subsiquent FAFSA
Scholarships and Grants at the University of South Australia