Yes, a college-bound child can receive both a scholarship and FAFSA®, but the scholarship may affect the total amount of money the child receives from FAFSA®. However, this is not to say that a student should forgo the search for scholarships, as they lower the amount borrowed for their education.

Does FAFSA impact scholarships?

It's a great question, and we've included a detailed response below. The short answer is that, in most cases, a scholarship won't affect the financial aid offered by a college. Instead, it will help to cover costs not already paid for by financial aid, and is therefore of great benefit to the student.

Do I have to pay FAFSA back?

The FAFSA is the Free Application for Federal Student Aid. This free application form is used to apply for federal student aid, as well as financial aid from state governments and most colleges and universities. FAFSA is not the financial aid itself, so you do not have to pay it back.