Applying for Federal Financial Aid with the FAFSA
Applying for Federal Financial Aid with the FAFSA
Jasminko Ibrakovic /

The U.S. Department of Education alone provided over $120 billion in grants, loans, and work-study to help 13 million students with college-related expenses during the 2016–2017 school year. The government doesn’t just give out this money to anyone, though. To get your hands on federal financial aid, you need to fill out a Free Application for Federal Student Aid each year. By taking 30 minutes to fill out this application, you could find that a previously unaffordable school is now a perfect match!

How do I apply for federal financial aid?

To apply for federal financial aid, you will need to fill out the Free Application for Federal Student Aid (FAFSA). It is an online form that you complete each year to show your family’s economic situation. You will need to input information about the number of people living in your household, their annual income, and your household finances. The FAFSA will then determine your expected family contribution (EFC), or how much money your family is able to put toward your studies in a certain year.

The FAFSA will also recommend you for funding in the form of federal grants, loans, and work-study. This is your financial need. It is calculated by subtracting your EFC from the cost of attending a particular college or university. Students with higher EFCs will receive less need-based financial aid than students with low EFCs. Once you’ve completed the FAFSA, you can send the results to all of the schools to which you’re applying. The financial aid office at each school will use these results to calculate your financial aid award based on their cost of attendance and your expected family contribution.

Many colleges and universities also use the financial need information from the FAFSA to determine your eligibility for additional institutional or state-based funding. Filling out this form really is the best way to get student aid of all kinds.

Who is eligible for federal financial aid?

To be eligible you must meet certain requirements:

  • Be a United States citizen or an eligible noncitizen
  • Have a valid Social Security number (SSN)
  • Have a high school diploma or the equivalent
  • Enroll in an eligible degree- or certificate-seeking program
  • Maintain satisfactory academic progress in school
  • Not owe a refund on a federal student grant (for example, if you have dropped out)
  • Not be in default on a federal student loan
  • Register with the Selective Service System if you are male
  • Not have a conviction for the possession or sale of illegal drugs while receiving federal student aid

What kind of information will I need to complete the FAFSA?

Before beginning to fill out the FAFSA, you must determine if you are an independent or dependent student, as this affects the information that will be necessary to complete the application.

Who counts as an independent student?

An independent student is at least one of the following:

  • Over 23 years old
  • Married
  • Working on a master’s or professional degree
  • Serving on active duty or a veteran of the U.S. military
  • Has at least one child and contributes over half of their financial support
  • Has legal dependents other than a child or spouse
  • Is or was a ward of the court, an emancipated minor, an orphan, homeless, or at risk of becoming homeless

If you meet one or more of the requirements for being an independent student, you will only need your own information (and your spouse’s if you are married) to fill out the FAFSA. If you meet none of these requirements, you are a dependent student and will also need information from your parent(s) to complete the application.

Whose information is needed?

  • If your parents were never married, provide information for the parent with whom you lived for the majority of the past 12 months. If you spent equal time living with each parent, provide information for the parent who gave you the most financial support during the past 12 months.
  • If your parents are not married, but living together, provide information for both of your parents.
  • If your parents are married, provide information for both of your parents.
  • If your parent has remarried, provide information for your parent and your stepparent.
  • If your parents are divorced or separated, provide information for the parent with whom you lived for the majority of the past 12 months. If you spent equal time living with each parent, provide information for the parent who gave you the most financial support during the past 12 months.
  • If your parent is widowed, provide information for your parent.
  • If you are an independent student, provide information for yourself only.
  • If you are an independent student who is married, provide information for yourself and your spouse.

Dependent students who do not fall into any of these existing categories may want to refer to this page for additional information.

What information and paperwork is required to complete the FAFSA?

  • Your Social Security number or your Alien Registration Number if you are an immigrant without an SSN
  • Your FSA ID
  • Your parents’ SSNs and FSA IDs if you are a dependent student
  • Your driver’s license number (if you have one)
  • Your (and your parents’ or spouse's) most recent federal income tax returns and W-2 forms
    • For the 2018–2019 FAFSA, you will submit information from your 2016 tax returns.
  • Recent bank and investment statements
  • Records of untaxed income such as tips, welfare benefits, child support, Social Security benefits, and veterans benefits
  • The list of schools that you are considering and their corresponding Title IV Institution Codes, which you can find here.
    • Your FAFSA results will automatically be sent to the schools you list (up to 10 if you submit online or four if you submit on paper), and they can use them to further determine what financial aid you will be offered.
  • Records of unusual family financial circumstances that have changed from the previous year and are not reflected in the information you are submitting (death, job loss, private school tuition for another child, unusual medical expenses not covered by insurance, etc.).
    • These all affect your family’s ability to pay for your education. This information cannot be directly recorded on the FAFSA, but you can contact the financial aid office at your school(s). They have the authority to take these circumstances into account and to adjust your cost of attendance or expected family contribution.

How do I actually complete the FAFSA?

  • Sign up for a Federal Student Aid (FSA) ID. Before filling out the FAFSA, you will need to create an FSA ID. You will be required to input your full legal name, your date of birth, and your social security number. This will give you access to the FAFSA and allow you to electronically sign and submit the form when you have finished. Parent(s) of dependent students are also required to sign off on the FAFSA and thus will also need to sign up for an FSA ID.
  • Replace your previous FAFSA PIN (if applicable). The FSA ID replaced the FAFSA PIN on May 10, 2015. The PIN will no longer allow you to log on to any federal student aid websites. If you have a FAFSA PIN from a previous year, you must still create an FSA ID, which can easily be linked to your previous number.
  • Complete the FAFSA. You must complete the Free Application for Federal Student Aid here and submit it, either online or by mail. The online FAFSA will process within three to five days, while the paper FAFSA takes about 10 days to finish processing.
    • The FAFSA is available each year on October 1 for the upcoming academic year. The FAFSA is available through June 30 of the following academic year, but it is suggested that you fill out the FAFSA as close to October 1 as possible to receive the greatest amount of aid. Some federal aid programs have limited funding that is distributed on a first-come, first-served basis.
    • Keep in mind that the FAFSA is a free application. If you’ve found a site that is trying to make you pay for the form, exit and redirect your attention to the official website.
    • The FAFSA only takes about 30 minutes to fill out if you have all the necessary information readily available. Renewals take even less time—no excuses!

What happens next?

Between three days and three weeks after your FAFSA is processed, you will receive a Student Aid Report (SAR) from the U.S. Department of Education. This will list all the information that you included on your FAFSA, let you know if there are any mistakes that need correcting, and display your expected family contribution. It is important to keep this for your records. It can make filling out the FAFSA much easier next year.

The information contained within the SAR is shared with the colleges and universities that you designated. The financial aid office at each school will use the information to determine how much financial aid you will receive. This number can be different at each school depending on its tuition and cost of attendance and how much your family is expected to contribute.

After coming up with a final award, each school will send you a letter in the mail to explain how much money you are eligible to receive in the form of grants, loans, and work-study. Read this article for more information on interpreting your financial aid letter.

Page last updated: 05/2018