FAFSA (Free Application for Federal Student Aid) is a free form you fill out every year to determine your eligibility for financial aid in college.
Completing the FAFSA allows you to be considered for grants, federal student loans, and work-study programs. Many colleges and scholarships require the FAFSA to award additional sources of aid. The sooner you fill the FAFSA out, the more aid you are likely to receive, as most funds are on first-come, first-serve basis.