It is a common misconception that students whose parents make too much money will not qualify for financial aid. However, family income is only one of the many factors that determine a student's financial aid eligibility. Consideration is also given to other factors such as the size of the student's family.
The FAFSA (Free Application for Federal Student Aid) is used to award:
Federal andnon-federal student aid,
Financial aid, student loans, andscholarships,
Need-based andmerit-based scholarships,
By all types of post-secondary educational institutions