FAFSA® stands for Free Application for Federal Student Aid. This form assesses your family’s financial situation and ability to pay for college. It is the single most important step to getting financial aid. You should file a FAFSA®, even if you’re not sure if your family will qualify for aid. On average, undergraduates who fill out their FAFSA® get $15,000 in financial aid.
By submitting the FAFSA®, you’re automatically considered for federal grants, work-study, and loans. However, the FAFSA® is also often used to determine your eligibility for non-federal aid too, like state aid, college scholarships, and some external scholarships.