What’s the big deal about the FAFSA?

The Free Application for Federal Student Aid (FAFSA) is an application submitted to the federal government to inform schools of your financial situation. The information you submit on your FAFSA is used to determine how much federal and state financial aid you may be eligible to receive to help you pay for college.

Even if you don’t think you’ll qualify for financial aid, submit your FAFSA anyway. It’s not uncommon for students to assume they won’t qualify due to some myths they’ve been told. Most students are pleasantly surprised to discover they are eligible to receive one or more types of aid. Once you submit your FAFSA you will receive a report that’s called a Student Aid Report (SAR). This summary of your FAFSA information may be a required part of many scholarship applications that you complete.

By submitting the FAFSA, you’re not automatically signing up for student loans or committing to any colleges. You’re simply giving the college(s) you’re interested in attending an opportunity to discuss your financial aid options with you. So be sure to fill out the 2019-2020 FAFSA as soon as possible after Oct. 1 this year. Visit FAFSA.gov for more information.