Free Application for Federal
Student Aid (FAFSA)
A Free Application for Federal
Student Aid (FAFSA) is required for students who
request any type of federal or state financial aid.
This form is used by most schools and determines
if you are eligible to receive financial aid by
calculating your Expected Family Contribution (EFC).
Your EFC is derived by a formula
established by law and measures you and your family’s
ability to contribute to your educational expenses
based on you and your family’s income and
assets. The school will determine if you require
financial need from the below equation:
Cost of
Attendance – Expected Family Contribution
= Financial Need
If it is determined that you are
in financial need, then the school will put together
a financial aid package that will assist in your
educational goals. The FAFSA must be submitted each
year you request financial aid.
Important
Things to Remember:
• Know the deadlines for submitting the form.
Although the federal deadline is midnight Central
Daylight time, June 30; deadlines for school and
state may differ.
• Gather necessary documents before filling
out the application; such as tax returns, bank statements,
etc.
• Establish your eligibility by making sure
your selected school qualifies, you’ve registered
for selective service if you are a male, citizenship
status, etc.
The FAFSA is available from your
high school, the Financial Aid Office of the college,
most local libraries, or by contacting the Federal
Student Aid Information Center at 1-800-4-FED-AID.
An electronic form is also available on the web.
The web-based FAFSA is recommended because it allows
you to make changes to the form, provides better
accuracy with built-in checks, and provides a faster
response time. Click
here to complete the electronic version of the
FAFSA and to learn more details about this important
application.
