Filling out the Free Application for Federal Student Aid, or FAFSA, is one of the most important steps students and their families can take to pay for college. The U.S. Department of Education awards around $121.8 billion in federal grants, loans and work-study funds, according to the most recent Federal Student Aid annual report. The agency reports that federal funds assist roughly 10 million students in completing their education. Federal financial aid can be awarded, such as with a grant; borrowed; or earned through work experience.

Students can fill out the online FAFSA application, beginning in December, using their computer or mobile phone. The first step, before filling out the FAFSA, is to create an FSA ID, which serves as an electronic signature. Parents and students can find a link to obtain an FSA ID through the Federal Student Aid website. To create a unique ID, applicants will need their Social Security number, date of birth and their name as it appears on official documents. 

The CSS is an online application to determine eligibility for non-federal financial aid, which is administered by the College Board, creator of the SAT®. Not every college requires it, but nearly 400 colleges do, so be sure to first check the list of schools to determine whether your child needs to complete the application. Unlike the FAFSA, there is a fee to apply. The first application is $25 and reports to additional schools are $16 each. The CSS application can be filed as early as October 1 and should be completed as soon as possible to take advantage of aid that is distributed on a first-come, first-served basis. All schools have their own deadlines in place for the CSS, but many require students to file the profile two weeks before the college's priority admission application deadline. 

The Higher Education Services Corporation (HESC) is New York State’s higher education student financial aid agency. HESC Administers: New York’s Tuition Assistance Program (TAP), 20+ State scholarship and loan forgiveness programs, New York’s 529 College Savings Program, with the Office of the State Comptroller (OSC), and provides Financial aid outreach programs for students and families.