The best way to ensure that you do not reach your financial aid limits is to borrow only the amount of loan funding you truly need for your education.
If you are ever caught with false documents, expect swift legal action, such as the loss of federal grant money or expulsion from school.
Once you receive your FSA credit balance refund, you are permitted to spend it only on educational needs. It should not be treated like a windfall.
StudentLoans.gov has a Repayment Estimator tool on its website where FSA borrowers can examine various repayment options.
There are several basic eligibility criteria that you must meet to receive your FSA. Satisfactory Academic Progress (SAP) is a major criterion.
It is important to understand that dependency status has a unique definition for Federal Student Aid (FSA) and how it affects your financial aid.