How much money does FAFSA give in 2026?
The amount of money the FAFSA provides eligible students changes each year. Understanding how much money is offered by the Free Application for Federal Student Aid program in 2026, what the eligibility is and how to determine the amount you could owe on top of student aid will prepare you for the cost of school.
If you could benefit from additional funds to help cover your schooling expenses, look into private student loans*.
Maximum limits for FAFSA student aid in 2026
See what the maximum amount and eligibility is for several popular student aid programs in 2026.
How FAFSA helps determine your total aid package
FAFSA helps determine your total aid package by gathering your financial information for your school. Colleges will use this information to calculate your cost of attendance and financial needs.
Understanding your Student Aid Index (SAI)
Your Student Aid Index (SAI) is used by colleges to determine a student’s eligibility and need for financial aid. An SAI is reflected as a number ranging from -1,500 to 999,999, which does not relate to a dollar amount but rather an estimate of a student’s needs.
Cost of Attendance (COA) explained
Cost of Attendance (COA) is the estimated price of going to your chosen school. Your COA will cover expenses like tuition, room and board, books, school supplies, transportation and personal expenses. COAs can vary based on the school you choose.
Calculating your financial need
You can calculate your financial need by subtracting your Student Aid Index from your Cost of Attendance. This will give you the amount you will need to pay to cover your schooling expenses.
Types of funding included in a FAFSA aid offer
Here are the types of funding included in a FAFSA aid offer.
- Grants: Need-based aid that typically does not need to be repaid.
- Scholarships: Considered gift aid that does not need to be repaid if criteria are met.
- Federal student loans: These loans will need to be repaid, typically with interest.
- Work-study: Federal program that allows students to earn money through a part-time job.
How to maximize your student aid in 2026
There are a few things you could do to help maximize your student aid in 2026. Here are some ways you could maximize your student aid.
- File your FAFSA as soon as possible.
- Meet your state and college’s deadlines for priority consideration.
- Apply for scholarships on top of any other aid.
- Consider schools that best meet your financial needs.
If you are looking for additional funding to help cover the cost of school, consider shopping for a private student loan*.
Frequently asked questions
Is FAFSA money a grant or a loan?
Completing your FAFSA will determine your eligibility for both grants and loans.
Money received from grants will not need to be repaid unless you leave school earlier than expected. Money received from loans will need to be repaid, typically with interest.
Can you get FAFSA money sent directly to your bank account?
Any money received from your FAFSA will not be sent directly to your bank account first.
Your university will receive any FAFSA funds first to apply toward tuition, room, board and any university expenses. Any funds left over will be electronically sent to your bank account.
Does household income affect the total amount you receive?
Your household income can affect the amount of funds you receive for certain student aid.
Household income does not affect the funds you will receive for most federal student loans. Some of the student aid where household income can affect the total amount you receive are Pell Grants, Direct Subsidized Loans, state grants, institutional grants or scholarships and work-study programs.
*Refinancing federal student loans into a private loan permanently eliminates access to federal benefits including income-driven repayment plans (SAVE, PAYE, IBR, ICR), Public Service Loan Forgiveness (PSLF), Teacher Loan Forgiveness, and federal deferment and forbearance. These benefits cannot be restored. Visit StudentAid.gov or contact your federal servicer before refinancing.
Rate has no affiliation with any government agency.
This is for educational purposes only. FAFSA rules are determined by the U.S. Department of Education and may change — verify current details at StudentAid.gov. Rate does not provide financial aid counseling or tax/legal advice.
