Introduction to the FAFSA:

What is the FAFSA?

FAFSA, the Free Application for Federal Student Aid, is a central application that considers factors such as income and number of dependants to determine your Expected Family Contribution (EFC). Your EFC is what you and your family are expected to pay toward your education out-of-pocket. Based on your EFC, you may be awarded various types of financial aid, which will help cover the difference between what you can afford to contribute and the actual cost of tuition.

What are the different types of federal student aid?

There are three general types of federal student aid: grants, loans and work-study. Grants are provided by the federal government and are essentially free money—they do not need to be paid back. Loans are offered through the government, educational institutions or private banks, and must be paid back with interest. Work-study is money provided by the government that a student earns by working for the school part-time. This money does not need to be paid back; however, any allocated work-study money not earned by the student will be lost.

Am I eligible for federal student aid?

Federal aid is awarded based on financial need, and although your exact financial aid reward cannot be determined until the FAFSA is completed, the FAFSA4caster can give you an estimate of what your student aid eligibility may be. Additionally, certain legal criteria must be met to receive federal financial aid. Follow the link and fill out the worksheet to determine your eligibility.


How to fill out the FAFSA:


Step 1: Get it Together

To electronically access, edit and sign your FAFSA you will need a PIN. Learn about how to use your PIN here, and apply for a PIN here.

Make sure you have all of the information you’ll need to complete the FAFSA. A complete list of required information and documentation can be found here.

A worksheet provided by the Department of Education is a great way to organize the required information prior to starting the FAFSA. View and print the worksheet here (PDF).

Step 2: Fill it Out

Begin the FAFSA application!

At this point you should have the documents you need to begin filling out your FAFSA. Go to FAFSA.gov to begin the application. Some financial aid is awarded on a first come, first served basis, so begin the process as soon after January 1st as possible. Pay careful attention to the questions, and fill out the application accurately and completely.

You should also be considering which schools you want the FAFSA results sent to. The electronic application allows up to ten, but more can be added later if desired.

Step 3: Follow Up

One your FAFSA is submitted, it’s time to wait. . .

At this point you may check the status of your application, make alterations and corrections, or change the schools the application will be sent to. You will begin receiving financial aid awards for each school; once they have all responded, consider your options, and accept the financial award from the college or university of your choice.

If federal student aid didn’t quite cover tuition and expenses, jump over to our scholarship section to learn what additional aid you may be eligible for.


Additional Resources:


An excellent, comprehensive guide to federal student aid put together by the US Department of Education: Funding Education Beyond High School.

A great web resource for all things financial-aid-related: FinAid! The SmartStudent Guide to Financial Aid.