The Free Application for Federal Student Aid, or FAFSA, is the form that determines your financial aid from the government and most colleges.

FAFSA Facts:

• The form collects personal and financial information from students and parents, and applies a formula to determine your Expected Family Contribution, or EFC.

• The most important factors are income, assets, and the number of children enrolled in college.

• The FAFSA becomes available every October for the following academic year.

• You will get your financial aid package after being accepted to colleges.