What Is the Purpose of the FAFSA application

By: Courtney Ramirez

It's not difficult to apply for financial aid for college. Once you know the basic steps to getting the money that you need for school, it will be easy to get everything done on time. If you follow these steps, you'll be able to take advantage of different types of financial assistance available.

You can't get any financial aid until you fill out a FAFSA form. This form, issued by the Federal Student Aid office, determines how much you will be able to borrow and from what sources. Determinations are made based on your financial needs. It is normally due by June of the current school year, but the closer you can get it done to January 1, the better. Certain programs are first-come, first-serve, so it is wise to get your paperwork in as soon as possible. Before you can fill out the FAFSA form, you'll need to contact the Federal Student Aid office and apply for a PIN number. Do this early so you can fill out the form early; be sure to keep the PIN number in a safe place, as you'll use the same password throughout your college career.

In addition to the FAFSA, the school of your choice may need you to fill out a College Scholarship Service Profile. While filling out the FAFSA allows you to be eligible for the Stafford, the Perkins and other types of loans, the CSS Profile allows you to apply for scholarships and programs specific to the school that you will be attending. If your school requires the CSS Profile, make sure to get it in on time so you can get all the financial aid you can. It's available from the College Board and is due in December of the current school year.

To fill out both applications, you'll need your Social Security number, personal financial documents, your parents' tax returns for the previous year (if you are their dependent) and information on any money you or your parents may have saved for college. Once you apply, you can check in on the status using your FAFSA PIN or calling the number you receive after completing your CSS profile. Your school's financial aid office will help you interpret the results and figure out the best course of action to pay for your education.

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By following a few free FAFSA tips, you may be able to increase your chances at getting grants and loans. When you fill out the Free Application for Federal Student Financial Aid (FAFSA), you are presenting your financial information to be reviewed by colleges.

What does FAFSA stand for? "FAFSA" means "Free Application for Federal Student Aid," and it has been helping college students get financial aid since 1992.

Frequently Asked Questions on Ask.com
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If you have filled out the Free Application for Federal Student Aid, or FAFSA, you may have some questions about what happens next. Read on to learn what to expect after you fill out your FAFSA.

Your FAFSA application must be submitted after January 1 of the year in which you will require financial aid. Submitting as close as possible to that date will increase your chances of fast approval and will demonstrate your commitment to gaining a higher education.

When it's time to fill out your Free Application for Federal Student Aid (FAFSA), you can choose to complete an online FAFSA or a paper FAFSA. There are some pros and cons to filling out the forms each way, but the online FAFSA has a few advantages. 

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