FAFSA (Free Application for Federal Student Aid)
What Is FAFSA
The Free Application for Federal Student Aid (FAFSA) is the official form students complete to apply for financial aid for college or other postsecondary education programs in the United States. The FAFSA determines eligibility for federal financial aid programs such as grants, student loans, and work-study.
Many states, colleges, and scholarship programs also use FAFSA information to determine eligibility for additional financial aid.
Why It Matters
Completing the FAFSA is the first step for most students seeking financial assistance for college. Without submitting the FAFSA, students may not qualify for federal grants, federal student loans, or work-study programs that can significantly reduce the cost of higher education.
Submitting the FAFSA early can also increase access to aid programs with limited funding.
How FAFSA Works
Students complete the FAFSA online through the U.S. Department of Education each academic year.
The application collects information about:
- student and parent income
- household size
- assets and savings
- dependency status
This information is used to calculate the Student Aid Index (SAI), which helps determine eligibility for financial aid.
Colleges listed on the FAFSA receive the information and use it to create financial aid offers.
Example
Emma completes the FAFSA while applying to three universities. After submitting her financial information, the Department of Education calculates her Student Aid Index and sends her data to each school. The universities then use this information to determine how much financial aid Emma may receive.
FAFSA vs CSS Profile
- FAFSA determines eligibility for federal student aid.
- The CSS Profile is an additional financial aid application used by some colleges to award institutional aid.
FAQs About FAFSA
Is FAFSA free to complete?
Yes. The FAFSA should always be submitted for free through the official government website.
How often must FAFSA be submitted?
Students must complete the FAFSA every academic year.
Does submitting FAFSA guarantee financial aid?
No, but it determines eligibility for many financial aid programs.
Related Terms
- Student Aid Index (SAI)
- Student Aid Report (SAR)
- Cost of Attendance (COA)
- Federal Student Loan
- Pell Grant
