What is it?
FAFSA stands for Free Application for Federal Student Aid. It’s the form the federal government and school use to determine your eligibility for financial assistance.

Schools also base their financial aid package on FAFSA. And, as the name implies, the FAFSA is completely free.

When should I apply?
The new FAFSA form becomes available each year on January 1. Submit your application as soon after January 1 as possible. At many schools, funds are limited; if you submit your FAFSA too late, they won’t have any aid left for you!

You should submit a FAFSA every year you need aid-even if you think you don’t qualify for financial aid. Your eligibility can change from year to year, especially if there are changes in your family’s circumstances.

Where can I get the FAFSA?

• Pick on up at your high school, college, or library

• Call 1-800-4-fed-aid

• Download a PDF version of the FAFSA

• Apply directly online through FAFSA On The Web (www.fafsa.ed.gov)

What happens next?
Four to six weeks after you submit your FAFSA you’ll receive your Student Aid Report or SAR. It’s your official record that the federal processor received your FAFSA.

Once you’ve received your SAR:

• Review to make sure all the information is correct. If there are any errors, ask your school’s financial aid administrator how to make corrections.

• Note your Data Release Number (DRN). You will need it to apply to additional schools.

• Check to see if your SAR has been selected for verification. If so, respond ASAP; your aid offer may be delayed until the materials are received.

 5 Most Common Errors on the FAFSA 

• Do not leave a field blank. If the answer is zero of the question doesn’t apply, you write in a zero.

• Use the 1040 federal tax return for reporting income and taxes paid, not the w-2 form.

• Don’t forget to report ALL the required sources of untaxed income.

• Include yourself in the household size, even if you didn’t live there the previous year.

• Sign the application. If you’re filing as an independent, make sure your parents sign too.

 Tips for Filling out the FAFSA

• Use your legal name as it appears on your Social Security card. Don’t use nicknames or aliases.

• Read the questions carefully. The words “you” and “your” refers to the student, not the parents.

• If your parents are divorced or separated, the parent with whom you lived most often in the pat 12 months is the one who should fill out the FAFSA.

• In the question that asks about your interest in different types of aid (e.g. work-study and student loans), answer, “yes” to each question. Answering ‘yes” does not obligate you to accept a loan; answering “no” will not get you more grant aid.

• One of the questions on the FAFSA asks for permission to release your information to the state aid agency. Answer “yes” to this question if you wish to be considered for state aid.

• Make a copy of the form before mailing it.