College Sense: How to Pay for College
home
how this site works
your senior year
ask the expert
student resources
parent/family resources
glossary
faq
contact us
CUNY GEAR UP
Higher Education Services Corporation
New York GEAR UP
 Ask The Expert

The Free Application for Student Financial Aid (FAFSA)

To apply for student financial aid, every student must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA provides financial information to the college or university's financial aid office in order to determine your financial need for federal and state programs.

The FAFSA form is a comprehensive review of a family's financial situation that is used to determine a family's Estimated Family Contribution (EFC). The Estimated Family Contribution is a dollar amount that the federal government believes you can pay towards the student's college education based on reviewing your financial situation. Often a family will receive a determination of their Estimated Family Contribution that is much higher than the family believes it can pay towards their student's tuition. Your student will be considered for federal and state aid based on the FAFSA and the Estimated Family Contribution that is determined.

The FAFSA must be completed every year for students who wish to be considered for federal and state aid. The FAFSA is available beginning January 1st of each year. Federal and state funds are provided on a first-come, first-serve basis, so you should make every effort to submit your FAFSA early. Most schools adhere to a priority filing deadline of February 15th. It is important to note that you can estimate your income and tax information on your FAFSA if you want to file closer to the January 1st date but have not filed your taxes yet. When you receive your Student Aid Report (SAR) you will be asked to review it and confirm that all information is accurate. At that time you can provide the U.S. Department of Education with your recently filed tax information.

 Be Prepared!
bullet
bullet
bullet