Each year, billions of dollars in federal, state, and institutional aid are available. In this guide, we’ll break down how financial aid is calculated, what affects your award, and how you can use tools like Orbit AI to maximize your funding.

How Financial Aid Is Calculated

The amount of aid you're eligible for is based on your college’s Cost of Attendance (COA) and your Student Aid Index (SAI), determined by your FAFSA application. The formula is: COA – SAI = Financial Need. Colleges use this number to build your aid package.

What Is Cost of Attendance (COA)?

COA is the full cost of attending, including tuition, fees, room and board, books, and transportation. A higher COA can mean more room for aid, especially at the Best Colleges for Financial Aid.

How Much Federal Aid Can You Receive?

Federal aid includes several types of funding. The maximum Pell Grant for 2024–2025 is $7,395. Students may also qualify for Federal Supplemental Educational Opportunity Grants (FSEOG) and Federal Work-Study. First-year dependent students can borrow up to $5,500 in federal loans.

Scholarships: A Powerful Way to Boost Aid

Scholarships can add thousands to your aid package. See our guides on Scholarships for Minorities 2025 and Common Scholarship Application Errors.

Typical Aid Amounts by Family Income Level

This table shows national averages for total aid, but your exact package will vary by school and how early you apply.

Family Income	Typical Total Aid (Grants, Scholarships, Loans)
Less than $30,000	$15,000–$25,000 per year
$30,000–$60,000	$10,000–$20,000 per year
$60,000–$100,000	$5,000–$15,000 per year
Over $100,000	Varies widely, merit aid plays a larger role

What Affects How Much Aid You Receive?

How early you file the FAFSA, the accuracy of your application, family income, number of students in college, state residency, and your academic record all influence your aid. First-generation status can also open doors to more support. See our resources on Financial Aid for Low-Income Students.

Financial Aid FAQ

How much financial aid do most students get?

Many students qualify for $5,000 to $25,000+ per year in combined aid. The amount depends heavily on your FAFSA results and the colleges you apply to.

Is there an income limit for FAFSA?

No, there is no set income limit. Many factors are considered, including family size and the Cost of Attendance at your chosen school.

What is the difference between COA and SAI?

COA is the total cost of attendance. Your Student Aid Index (SAI) is your calculated ability to pay based on your FAFSA. The difference determines your financial need.

How can I maximize the amount of aid I get?

File FAFSA as early as possible after the October 1 open date, apply for a wide range of scholarships, and use smart tools like Orbit AI to avoid costly mistakes.

By Devansh Dubey (Last updated: June 22, 2025)