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Why FAFSA?
Why FAFSA?
The Free Application for Federal Student Aid (FAFSA) is the form you need to fill out to get any financial aid from the federal government to help pay for college. Each year, over 13 million students who file the FAFSA get more than $120 billion in grants, work-study, and low-interest loans from the U.S. Department of Education.
Many states and colleges also use the FAFSA to determine which students get financial aid—and how much they’ll get. The FAFSA asks for information about you and your family’s finances, including tax returns, so you might need your parents’ help to complete it. If you need additional help, reach out to your school counselor.
FAFSA Facts
FAFSA Facts
Submitting the FAFSA is the most important thing you can do if you want financial aid.
The FAFSA is free—you don’t need to pay anyone to prepare it for you.
You need to submit a new FAFSA before each academic year in which you want to get aid. If you plan to apply for aid throughout college, you’ll need to fill out the FAFSA each year.
Be sure to use a permanent email address on the form, not your high school email, so you can use your FAFSA account throughout college.
The FAFSA has been simplified and redesigned in fall of 2023 to make it easier for applying for federal student aid.
Students in the class of 2025 attending college in the fall of 2025 and other students completing the FAFSA will not be able to complete it until December 2024.
Why is family involvement important?
Why is family involvement important?
The FAFSA form was designed to provide a picture of the family's financial strength (as defined by the law). If a dependent student is applying for federal student aid to help pay for college, the parent/guardian's financial information is required on the FAFSA form. Providing information does not commit the parent/guardian to financially contributing to the student's education; it is simply required for the assessment of the family's situation.
Ultimately, a student's postsecondary choices are up to the student!
For more information about dependency status and what to do if the student has no access to the parent/guardian's information, check out StudentAid.gov/dependency
Who Should Fill Out the FAFSA?
Who Should Fill Out the FAFSA?
Anyone planning on going to college in the next academic year should fill out the FAFSA.
Here’s why:
Each year, millions—sometimes billions—of dollars in federal aid is left on the table by students who didn’t file a FAFSA. It’s simple: If you don’t file, you won’t qualify for most financial aid.
Your family doesn’t have to have a low income to qualify for assistance. Even if your family makes $200,000 a year, you could be eligible for aid.
You automatically qualify for a low-interest federal loan when you submit a FAFSA. These loans are less expensive to pay back than many private student loans.
Many work-study programs require the FAFSA.
Some merit-based scholarships require the FAFSA to help them determine scholarship amounts.
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