What the heck is the FAFSA anyway?

Last week, we introduced you to some of the financial aid terms and debunked some financial aid myths with the promise of getting into the nitty-gritty of financial aid for the remainder of the month. Today we deal with the FAFSA, the Free Application for Federal Student Aid.

So, what is the FAFSA anyway? It’s the first step you take toward receiving financial aid like grants, federal loans, a federal work-study job, and need-based scholarships. The college you apply to will use the FAFSA to determine how much aid you qualify for.  

The FAFSA can be confusing, but don’t fret. In fact, these young men can explain it way better than we can:

If you think you might need help filling it out, our university is offering FAFSA-completion workshops to help you.

Keep in mind there are different FAFSA deadlines – federal, state and for the college you’re applying to. The 2012-13 federal deadline is June 30, 2013. State deadlines vary. You’ll also want to find out the deadline at the school or schools you’re applying to. On our campus the priority deadline is March 1.

If you need more information, there is a FAFSA blog where you can find additional financial aid information. You can also follow FAFSA on Twitter.

On Wednesday, we’ll cover the mistakes you don’t want to make on the FAFSA.

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