How much money can a student have in a savings account and still be considered for Fafsa?

For FAFSA purposes, a student can have up to $7,040 in their savings account before it affects their Expected Family Contribution (EFC) for federal financial aid. However, any amount above that may be considered an asset and could reduce the amount of aid a student is eligible for. It's important to note that this threshold can vary based on the student's dependency status and other financial factors. Students should always check the latest FAFSA guidelines, as regulations may change.