Of course, the other defining qualification is that the student proves that there is a financial need to assist him or her in paying for college. That of course depends on the lengthy, detailed information that was provided on the FAFSA application. It does not have an exact gross amount cut off, because so many factors can figure into the need of aid. The size of the family, the number of college students in the family, and the income of the family. Some of the wealthiest people can qualify for aid, because all the money is invested and not making a profitable income for the family. It is important to mention that the student’s income can have a powerful and sometimes negative affect on the families over all reported income on the application. Part of the student’s income is taken off, but the majority of it is reported and figured in with the total income of the family. (Income and Financial Aid
Of course, the other defining qualification is that the student proves that there is a financial need to assist him or her in paying for college. That of course depends on the lengthy, detailed information that was provided on the FAFSA application. It does not have an exact gross amount cut off, because so many factors can figure into the need of aid. The size of the family, the number of college students in the family, and the income of the family. Some of the wealthiest people can qualify for aid, because all the money is invested and not making a profitable income for the family. It is important to mention that the student’s income can have a powerful and sometimes negative affect on the families over all reported income on the application. Part of the student’s income is taken off, but the majority of it is reported and figured in with the total income of the family. (Income and Financial Aid