FAFSA is the application that families and students use to apply for financial aid from the U.S. federal government, state governments, and higher education institutions. The FAFSA is a simplified form that only requires basic information to help you find financial assistance suited for your family’s needs on an easy-to-use website tool. This form is the first step towards federal financial aid and can be completed at any time throughout the year. The FAFSA is a requirement for anyone who wishes to attend an institution that receives federal funding. To complete the FAFSA and apply for federal student aid, visit www.fafsa.gov/.
There are two main parts of the FASFA including:
The Family Information section is the first part of the FAFSA that you will fill out. You may need some documents to complete this part of the application, such as your prior year’s W2 forms or tax returns. Some people who use the 1040A or 1040EZ form will not be required to provide documentation because their income is already reported on their tax return and automatically transferred over to this form.
To fill out this section of the application, you will need your social security number, current address (make sure it is correct), and school information such as your high school name, city, and state. Other information that must be filled out in this section includes your financial status, family size, and the number of children in college. You will also be asked to report whether you have any dependents and their ages. When filling out this section of the form, you will need to write a series of data points, such as the number of months it will take you to pay back your student loans.
Once you complete your FAFSA and answered all questions, you will receive critical information about what types of financial aid are available for students just like yourself. The website www.studentloans.gov has a wealth of information about these educational loans and the eligibility requirements for those who might qualify for them. Help will also be available for parents helping their children pay for college.
The FAFSA is an essential tool that can help an individual or a family achieve their goals of attending college or even a graduate school by using federal student aid from the U.S. Department of Education and other higher education institutions nationwide. You should fill the FAFSA every year to remain eligible to receive federal grants, loans, and work-study support so that no one is left out while they attend college or graduate school throughout the country.