WHAT IS FAFSA?

The Free Application for Federal Student Aid form is an extremely helpful resource that can help students go to college. However, many people are unaware of or uninformed about the form and therefore do not take advantage of the potential help they can receive. So, what really is FAFSA? FAFSA is federal aid granted by the government to help students afford college if their household income levels confirm financial disparities (unequal access to money or financial opportunities). The form collects personal and financial information about a household through how much money is brought in through work, tax forms, and other legal documents that the government looks over to determine if a person is a good candidate to be given help. Depending on a family or individual’s financial state, the government will consider specific factors to decide how much money the student may qualify for that is sufficient to fill these financial gaps. Additionally, aid comes in three different forms depending on what the student applies for and qualifies for. These include grants, loans, or work-study jobs:

Grants are money given by the government that you do not have to pay back for school.

Loans are money that is borrowed from the government to cover school costs, that can be paid back at a later time with interest.

Work-study jobs provide the opportunity to earn money while working at school.

FAFSA also opens up the opportunity to receive state and institutional aid.

Furthermore, completing and applying for FAFSA comes at no cost and is a great opportunity to seek out various forms of financial help.