Why do you pay for fafsa

By Mark Kantrowitz. This free application form is used to apply for federal student aid, as well as financial aid from state governments and most colleges and universities. The FAFSA is also used to award state grants and institutional grants from colleges and universities.

Grants and scholarships do not need to be repaid unless you do not meet specified requirements, if present. Student employment is earned and does not need to be repaid. Ultimately, what is important to remember is that filling out a FAFSA does not guarantee financial aid nor is it financial aid. It is simply a form that determines your eligibility for financial aid. This aid can include many different types, including loans, grants, and scholarships.

Ultimately the school you attend and the cost of that school will determine what you have to pay back. A covered educational institution's name or logo on the Edmit platform is not an endorsement by the covered educational institution of SoFi's student loan products. Edmit may receive compensation from SoFi on a per-funded loan basis. SoFi does not guarantee the accuracy of information provided by Edmit, its affiliates or subsidiaries.

Enrollment in Edmit does not guarantee eligibility for a SoFi loan product. Terms and conditions apply, and are subject to change. Why Edmit? How It Works. About Us. The team behind making paying for college achievable for everyone. Our Data. Learning Center Guides. Before High School. Make your plan on how best to save.

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