What happens if you get caught lying on fafsa?
Lying on a federal document like the FAFSA is a felony. You, or your parents, face up to five years in prison and/or a $20,000 fine. This felony charge will follow you or your parents for the rest of your lives, hurting your future chances of an education and a job.
How do I report someone lying on fafsa?
Call the Office of Inspector general directly at 1-800-MIS-USED to report fraudulent use of educational funding. Speak with a representative and give him the information that you have on the person committing fraud. Fill out the online complaint form on the OIG website.
What is the maximum amount you can get for student loans?
The maximum amount you can borrow depends on factors including whether they’re federal or private loans and your year in school. Undergraduates can borrow up to $12,500 annually and $57,500 total in federal student loans. Graduate students can borrow up to $20,500 annually and $138,500 total.
What is the lifetime maximum for federal student loans?
Federal Student Loan Lifetime Limits
| Year In School | Dependent Students* | Independent Students** |
|---|---|---|
| Lifetime limit | $31,000—no more than $23,000 can be subsidized | $57,000 for undergraduates—no more than $23,000 can be subsidized $138,500 for graduate and professional students—no more than $65,500 can be subsidized |
What to do if you maxed out financial aid?
What to Do If You Run Out of Financial Aid
- Call your school’s financial aid office immediately. If the financial aid you’ve been awarded is running out, the first thing you should do is call your college’s financial aid office.
- Beg, Borrow, or Steal.
- Work it.
- Apply for really easy scholarships.
- Look into private loans.
Do I have to pay back fafsa If I drop a class?
Don’t drop or stop attending any class without consulting the Financial Aid Office. Federal regulations require you to repay a portion of financial aid funds if you withdraw from all classes before satisfying the 60 percent completion rule for the enrollment term.
Can I get a Pell Grant if I’m on disability?
No. Pell Grants are based on financial need not disability status. Disability related expenses can be used to lower your financial aid award.