Definition: FAFSA stands for the Free Application for Federal Student Aid. It's a form that students fill out annually as part of the financial aid process.
Key Takeaway: Filling out the FAFSA on time can help you qualify for several types of aid, including need-based and merit-based aid, and federal, state, and school-specific aid.
Challenge: This years FAFSA opened on October 1st. Make sure to fill out your FAFSA ASAP as some aid is given on a first come, first serve basis. If you're a dependent, schedule a time with your parent(s) or guardian(s) to complete it over Zoom or have a goal to complete it over Thanksgiving or Winter break.
Fun Fact: It's called the "Free" application for aid because it's free, but some copycat private websites may still try to get you to file with them for a fee. (Hint: You never have to enter your credit card information to fill out the real FAFSA.)
Watch the video below for another look at this concept.
FAFSA Overview (Federal Student Aid)