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Federal Student Aid

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Photo by Kenny Eliason on Unsplash

Introduction to FAFSA

FAFSA® or the Free Application for Federal Student Aid, known as the FAFSA form, is the application that students complete each year to receive student aid for college or career school.

Why FAFSA is Important

It's important that you fill out the FAFSA form if you want to receive financial aid. The FAFSA form has a series of questions for you to answer. The information you provide will be used to determine your eligibility for federal student aid, and many states will use your information to determine eligibility for state financial aid. This financial aid may include grants, scholarships, work-study funds, and student loans.

How to Submit Your FAFSA Form

When you complete the FAFSA form online, you can pick up to 20 schools to receive your information. Those schools will use the information to calculate how much student aid to offer you. Each school will send you an aid offer that details the types and amounts of aid available to you.

The Benefits of Financial Aid

Financial aid can help you and your family afford college or career school. Submit your FAFSA form to access the largest source of financial aid—federal student aid—as well as financial aid from your school and state.

Tips for FAFSA Submission

Make sure that you complete the form for every year you plan to attend school. You should submit it as early as possible on or after the day the form launches, to meet state, school, and federal deadlines, and to be eligible for as much aid as possible.

Federal Student Aid Eligibility Requirements

To qualify for federal student aid, you must:

  1. Demonstrate Financial Need: This is required for most federal student aid programs.
  2. Citizen Status: Be a U.S. citizen or an eligible non-citizen Eligible Non-citizen: A U.S. national (includes natives of American Samoa or Swains Island), U.S. permanent resident (who has an I-151, I-551 or I-551C [Permanent Resident Card]), or an individual who has an Arrival-Departure Record (I-94) from U.S. Citizenship and Immigration Services (USCIS) showing one of the following designations:
    • "Refugee"
    • "Asylum Granted"
    • "Cuban-Haitian Entrant (Status Pending)"
    • "Conditional Entrant" (valid only if issued before April 1, 1980)
    • Victims of human trafficking, T-visa (T-2, T-3, or T-4, etc.) holder
    • “Parolee” (You must be paroled into the United States for at least one year and you must be able to provide evidence from the USCIS that you are in the United States for other than a temporary purpose with the intention of becoming a U.S. citizen or lawful permanent resident.)
  3. Enrollment: Be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program.
  4. Valid Social Security Number (SSN): You must have one unless you are from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau.
  5. Educational Requirements: Be qualified to obtain a college or career school education, either by having a high school diploma or a state-recognized equivalent such as a General Educational Development (GED) certificate; or completing a high school education in a homeschool setting approved under state law (or—if state law does not require a homeschooled student to obtain a completion credential—completing a high school education in a homeschool setting that qualifies as an exemption from compulsory attendance requirements under state law); or enrolling in an eligible career pathways program.

Types of Federal Student Aid

There are several types of federal student aid, including:

Federal Student Aid Application Process

The FAFSA form is the first step to applying for federal student aid. It's free and takes about 30 minutes to complete. Once you submit the form, the U.S. Department of Education will calculate your Expected Family Contribution (EFC) to determine your financial need.

Schools will use this information to create your financial aid package. If you need additional financial aid, you can explore private scholarships and grants or consider student loans.

Federal Student Aid Repayment Plans

There are several repayment plans available for federal student loans, including:

Conclusion

Understanding federal student aid and the FAFSA process is crucial to securing the financial support you need for your education. Make sure to complete the FAFSA form every year, explore all your financial aid options, and choose a repayment plan that works for you.