What Is FAFSA and How Do I Fill It Out

This is one to read with a parent or guardian if you can — the FAFSA needs info from both of you.

The FAFSA (it stands for Free Application for Federal Student Aid) is a free form you fill out to ask the U.S. government for help paying for college. It's the single most important paperwork step before college. Even families that think they "won't qualify" should fill it out, because schools and states use the same form to give out their own money too.

Let's walk through what it is, how it works, and how to actually fill it out without losing your mind.

What FAFSA is, in plain English

The FAFSA decides whether you can get:

• Federal grants — money the government gives you that you do not pay back (the Pell Grant is the biggest one)
• Federal student loans — money you borrow at lower rates than a regular bank, and pay back later
• Work-study — a part-time job on campus where the government helps pay your wages
• State grants — money your state government gives you, often using FAFSA info
• School-based aid — money your college itself gives you, often using FAFSA info

The official site is studentaid.gov. That's the only place to fill out the real FAFSA. Any site that charges you to fill it out is a scam. Free Application means free.

When to fill it out

The FAFSA opens every year on October 1 for the following school year. Some grants and state aid programs are first-come, first-served — so the earlier you file, the better your chances. Don't wait until the spring.

If you're a high school senior, fill it out as soon as it opens in October of your senior year. If you're already in college, you fill it out every year for the next school year.

What you'll need before you start

Get this stuff ready first. It's the worst part. Once it's gathered, the form itself is not bad.

• FSA ID — your username and password for the Federal Student Aid website. You and a parent each need your own FSA ID. Make this a few days before, because it can take a day to verify.
• Social Security number — yours and your parent's
• Tax info — usually pulled in from the IRS automatically through the FAFSA
• Bank account balances
• List of colleges you might attend — you can list up to 20

Walking through the form

The form has a few sections:

1. Student info — your name, address, school year, citizenship.
2. Dependency questions — whether you count as a "dependent" of your parents. Most teens do.
3. Parent info — your parent's income and assets, if you're a dependent.
4. Financial info — pulled from the IRS automatically in most cases.
5. Schools — pick the colleges that should get your FAFSA results.
6. Sign and submit — you and a parent each sign with your FSA IDs.

The whole thing usually takes 30 to 60 minutes if your info is ready.

What happens after you submit

A few weeks later, you get a Student Aid Index (called the SAI). It's a number colleges use to figure out how much help you should get. The SAI is not your aid amount. Your actual aid comes in a financial aid offer from each college that admits you, usually in the spring.

Compare the offers carefully. Two different schools might give very different amounts of aid. The total cost matters more than the sticker price.

Common FAFSA mistakes

• Skipping it because "we make too much." Many schools require the FAFSA before giving any aid, including merit aid.
• Using a fake FAFSA site. The only real one is studentaid.gov.
• Mixing up parent and student info. The form will tell you which one is asking — read carefully.
• Forgetting your FSA ID password. Save it somewhere safe.

Words to know

• FAFSA — the free federal form you fill out to ask for college money
• Grant — money for college you do not pay back
• Loan — money for college you borrow and pay back later
• Interest — extra money you pay back on top of a loan
• FSA ID — your login for the federal student aid website
• Dependent — for FAFSA, usually a student under 24 whose parent's info counts
• SAI — Student Aid Index, the number FAFSA sends to schools

For more on borrowing, see debit card vs credit card and the glossary entry on loans.

Where to get real help

• The official Federal Student Aid help line
• Your high school counselor — they help with FAFSA every year
• The financial aid office at any college you're applying to

For the full hub, see the Learn hub.

If you're not sure about anything in this article, ask a trusted adult — that's what they're there for.