FAFSA: What Does It Mean?

The FAFSA — Free Application for Federal Student Aid — is the form used to apply for federal financial aid for college or career school, including grants, work-study programs, and federal student loans. It is submitted annually and uses household income and asset information to calculate a student's Expected Family Contribution (EFC) or Student Aid Index (SAI).

Completing the FAFSA is the required first step for accessing most forms of financial aid, including aid from many states and colleges that use FAFSA data for their own award decisions. Filing early is strongly encouraged, as some aid is awarded on a first-come, first-served basis.