FAFSA stands for Free Application for Federal Student Aid. This form is used to determine the amount of money a family is expected to contribute to the price of attending a postsecondary institution. The results of the FAFSA are used in determining student grants, work study, and loan amounts.
Federal Student Aid is responsible for managing the student financial assistance programs authorized under Title IV of the Higher Education Act of 1965. These programs provide grants, loans, and work-study funds to students attending college or career school.
They ensure students and their families can benefit from these programs by:
- informing students and families about the availability of the federal student aid programs and the process for applying for and receiving aid from those programs;
- developing the Free Application for Federal Student Aid (FAFSA ® ) and processing approximately 22 million FAFSA submissions each year;
- accurately disbursing, reconciling, and accounting for all federal student aid funds that are delivered to students each year through more than 6,200 colleges and career schools;
- managing the outstanding federal student loan portfolio and securing repayment from federal student loan borrowers;
- offering free assistance to students, parents, and borrowers throughout the entire financial aid process; and
- providing oversight and monitoring of all program participants—schools, financial entities,
- and students— to ensure compliance with the laws, regulations, and policies governing the
- federal student aid programs.
For the 2019-2020 year, you will be able to apply between Oct. 1, 2018, and June 30, 2019. For more information and the application visit https://fafsa.ed.gov/.