What is the FAFSA?

FAFSA stands for Free Application for Federal Student Aid. It is a form filled out by current as well as incoming college students in the United States and it determines the eligibility of a student for financial aid towards the cost of college. It can be found on FAFSA.gov.

Federal financial aid is awarded based on the FAFSA and it includes the Federal Pell Grant which you don't have to pay back, Federal work-study, which you pay back by working, and Federal student loans.

It is available every year in October and has an 18 months financial aid application cycle. Each state has its own deadline too. It is important to file as early as possible. Those who file from January to March will get more grant money than those applying later.

The form collects personal and financial information from students and parents in order to calculate the EFC which is the Expected Family Contribution which is what is expected from the parent and student for payment towards the cost of going to college. This form has to be filled out every year you are at college.