The FAFSA (Free Application for Federal Student Aid) is a form that students in the U.S. fill out to apply for financial aid to pay for college or career school. It’s the primary way to access federal financial aid, including grants, scholarships, work-study programs, and student loans. Many states and colleges also use FAFSA information to determine eligibility for their own financial aid programs.
Here’s how it works:
- Complete the FAFSA: Students (and parents, if applicable) provide information about income, assets, and other financial details. The application is free and can be completed online.
- Determine Financial Need: FAFSA uses this information to calculate the student’s Student Aid Index (SAI), which estimates how much the family can contribute toward college costs. Colleges then use this to determine the types and amounts of aid the student qualifies for.
- Receive Financial Aid Offers: After submitting the FAFSA, students receive financial aid offers from the colleges they applied to. These may include federal grants like the Pell Grant, state grants, federal loans, work-study, and other aid.
By completing the FAFSA, students maximize their chances of receiving financial aid to make college more affordable. The application opens on October 1 each year, and applying as early as possible is often beneficial, as some aid is limited and awarded on a first-come, first-served basis.
Who is Eligible for FAFSA?
To be eligible for financial aid through the Free Application for Federal Student Aid (FAFSA), students must meet specific requirements. Here’s a quick guide to who qualifies:
- Citizenship and Residency: Applicants must be U.S. citizens, U.S. nationals, or eligible non-citizens (such as permanent residents). Students who are undocumented may still be eligible for state aid through the California Dream Act in California.
- Educational Status: The FAFSA is available to high school seniors, college students, and those planning to attend college or career school. Applicants must be enrolled or planning to enroll in an eligible degree or certificate program.
- Academic Progress: Students must maintain satisfactory academic progress in college to continue receiving aid.
- Valid Social Security Number: A valid Social Security Number is generally required, except for residents of the Freely Associated States (the Marshall Islands, the Federated States of Micronesia, and Palau).
Applying for the FAFSA is the first step in unlocking financial aid opportunities, including grants, scholarships, work-study programs, and loans. Even if you’re unsure about your eligibility, completing the FAFSA is free, and many students qualify for aid!