| FAFSA or Free Application for Federal Student Aid is | | | | and universities award financial aid on first come, first |
| a form that is filled out by university students and | | | | serve basis. Hence, to improve your chances of |
| parents to apply for federal financial aid, which | | | | receiving financial aid, try to submit the FAFSA latest |
| includes grants, scholarships, student loans and | | | | by March 1. There are 102 questions in FAFSA, which |
| work-study programs. In addition to the federal | | | | are segregated into six sections. The primary aim of |
| government, schools, states and private financial | | | | these questions is to retrieve your academic, |
| institutions also use the information from the FAFSA | | | | personal and financial information. You would also be |
| to determine a student's eligibility for non-federal aid | | | | required to divulge your dependency status, colleges |
| Each year, the Department of Education issues a | | | | you want to receive your FAFSA results and your |
| new FAFSA for the subsequent academic year. You | | | | identification information. For filling out the FAFSA |
| can either use the online version of FAFSA or you | | | | properly, you would need previous two year's copies |
| can obtain a printed copy of the application form | | | | of your income tax returns. Once you submit the |
| from your high school counselor. If you intend to use | | | | FAFSA, the government will scrutinize it thoroughly, |
| the online version, then you would have to apply for | | | | and then send you a Student Aid Report (SAR). The |
| Personal Identification Number (PIN). For this you | | | | SAR typically includes a summary of your financial aid |
| would have to submit your name, date of birth, social | | | | information and the EFC (Expected Family |
| security number and address. Once, you get your | | | | Contribution). The colleges enlisted in your FAFSA will |
| PIN, you can fill out the form and submit it online or | | | | also receive SAR. When you apply for admission in |
| print it and send it by mail. While the printed version | | | | these colleges, you will be asked to submit additional |
| of FAFSA becomes available in the second week of | | | | financial information. Thereafter, your eligibility for |
| October, the online version becomes accessible on | | | | financial aid will be calculated, and then you will be |
| January 1. Although the last date for the submission | | | | notified about the kind of financial aid package the |
| of FAFSA is June 30, but you can submit the form in | | | | college can award you. |
| either format as early as January 2. Most colleges | | | | |