The FAFSA® (Free Application for Federal Student Aid) assesses your family’s financial situation and ability to pay for college. It is used primarily to determine the financial aid you’re eligible to receive from the federal government, but many schools also use it when determining their own financial aid packages. The FAFSA® 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.
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.
The form is relatively simple and only takes around 30 minutes to fill out. In order to complete it, you’ll need to have a few things on hand, including:
Your Social Security Number (SSN)
Your Alien Registration Number (for non-U.S. Citizens)
Your or your parents’ federal income tax returns (these can often be transferred into the form automatically)
Records of untaxed income (if applicable)
Investment records (if applicable)
Shortly after submitting the FAFSA® and signing the form on the government site, you will receive an electronic or paper copy of your Submission Summary.
What is a FAFSA® Submission Summary?
What is a FAFSA® Submission Summary?
The Submission Summary lists basic information about a student’s financial aid eligibility as well as your answers to the questions on the FAFSA®.
The key number and indicator of your financial aid eligibility is the Student Aid Index (SAI). It is an estimate of the amount of money your family can contribute towards your education.
The 2025-2026 FAFSA® is expected to open by December 1, 2024. Once it’s available, it’s recommended that you fill it out as soon as possible to avoid missing any deadlines, and to ensure you have enough time to plan for how to pay for college. Some schools also grant financial aid awards on a first-come, first-served basis.
If your financial aid offer wasn't enough to cover your bill, we recommend you submit an appeal. Learn more about financial aid appeals here.
If you'll need a student loan to cover the rest, begin by researching the lender that will give you the best rate. Most private lenders allow you to answer a few questions risk-free and then get your estimated interest rate. You’re under no obligation to actually get the loan. We recommend checking with Earnest first. Get your rate estimate from Earnest here.