QandAs: Loans

What is the FAFSA?

Answer:
FAFSA is the Free Application for Federal Student Aid.

College students who wish to receive any type of federal financial aid must complete the FAFSA and submit it to the government every school year. The government analyzes all applications and determines how much a family is expected contribute to a student’s education.

Schools use this information to calculate the amount of federal aid a student is eligible to receive. Many schools use the FAFSA to award other types of financial aid as well. The FAFSA requires extensive household information including number of children, income, assets, taxes paid, investments, and more.


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