FAFSA

The Free Application for Federal Student Aid (FAFSA) is a form that can be prepared annually by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.

The FAFSA should not be confused with the CSS Profile, which is also required by some colleges. The CSS is a fee-based product of the College Board and usually used by colleges to distribute their own institutional funding rather than federal or state.

Nearly every student is eligible for some form of financial aid. Students who may not be eligible for need-based aid may still be eligible for an unsubsidized Stafford Loan regardless of income or circumstances.

A student who can meet all of the following criteria may be eligible for aid:

Student Aid and Fiscal Responsibility Act (SAFRA) of 2010 changed the criteria for suspension of eligibility for drug-related offenses. Previously, students could lose eligibility for either the possession or sale of a controlled substance during the period of enrollment. SAFRA dropped the penalties for possession of a controlled substance but retained the penalties for sale of a controlled substance. SAFRA increases the suspension to two years for a first offense and indefinite for a second offense.

Students who are military veterans and active duty service members may apply for financial aid by filing a FAFSA even if they also apply for education and housing benefits offered by the Post-9/11 G.I. Bill and its accompanying Yellow Ribbon program. The amount of military aid a student receives for a college education does not defer eligibility or reduce the amount of student aid that student could receive from the four federal grant programs – Pell, SMART, FSEOG, and TEACH – and many of the state student aid programs.

Beginning with the 2017-2018 academic year, the FAFSA is made available to the public on October 1. The 2016-2017 academic year was the final time the FAFSA was made available on January 1. The US Department of Education made the FAFSA available earlier to more closely align the timing of the financial aid application process with the typical college application process. Additionally, 2-year old US tax information is used to complete the financial sections of the FAFSA beginning with the 2017-2018 academic year. This change in using "prior-prior tax year" information enables families to use the IRS Data Retrieval Tool in the FAFSA to verify their tax information without a delay from the IRS processing tax information. Most financial aid is provided on a first-come, first-served basis, and students are encouraged to submit a FAFSA as soon as possible.

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