How Does FAFSA Work For Financial Aid For College?

College isn’t out of reach for low-income students as students can receive financial aid in many ways. One solution is the FAFSA, or Free Application for Federal Student Aid. This document is available to potential college students who are looking for financial support.

The FAFSA document is necessary to explore when aiming to go to college. You’ll be able to qualify for money for college based on your income and assets. There are some other factors that may influence what you can get, but knowing what to expect before filling out this form can help you understand what FAFSA is about.

What Is FAFSA?

The Free Application for Federal Student Aid program is offered by the United States Department of Education. You can use FAFSA to provide information to the college you wish to attend. The college will then use your data to see if you are eligible for federal aid, although some schools might also provide their own separate aid packages.

You can receive aid based on what the school provides and your general needs. The results will vary by school, so filling out the form is necessary to help you see what’s open.

What Types of Assistance Can You Get?

You may be eligible for various forms of financial assistance for college, although what you will earn will vary based on your situation.

Here are some of the more common forms of assistance you can get from the FAFSA form:

• Pell Grant: The Pell Grant is a grant that you can earn to attend college if your family is not expected to contribute much to the cost. The total you can get from a Pell Grant will vary, but the maximum amount in the 2024-25 year was $7,395. It’s typically easier to earn this grant if you apply early.
• FSEOG: The Federal Supplemental Educational Opportunity Grant, or FSEOG, is another grant. This grant is worth less money, as it can be worth up to $4,000. Each school has a limited amount it can provide to students, and those who apply sooner are more likely to qualify for this grant.
• Subsidized Loans: Subsidized loans are available to students who qualify. A subsidized loan is one where the government pays the interest while the student is enrolled. You will be charged interest from six months after graduating onward, so you can cover part of the cost of the loan while in school.
• Unsubsidized Loans: Unsubsidized loans are also available through FAFSA, although the interest starts adding once you first receive your funds. You’re more likely to get extra funds through this type of loan than a subsidized one.
• Work-Study Program: You can also qualify for the government’s work-study program through FAFSA. You can receive a part-time job relating to your studies through this setup. You can have the school use the funds you receive in your employment to cover your college expenses. Not all schools offer work-study programs, so whether you can qualify for a plan will vary.

How Do You Apply?

You’ll require a series of items before you can start filling out the FAFSA form. You will need these materials:

• Your Social Security Number plus the SSNs of your parents
• Recent tax returns
• The amount of money in your savings or checking accounts, including any cash on hand you hold
• The net worth of whatever investments or assets the family has; the value of any businesses or farms can be included
• Any child support your family receives can also be included

The Actual Application

The process for applying for the FAFSA is simple. Here’s a look at how to make it work:

1. Visit the FAFSA website to access the form.
2. Set up a Federal Student Aid ID. You can create your ID through StudentAid.gov. You’ll need this account to save your form.
3. Complete the demographics section.
4. List the schools that the FAFSA form will go to. These should be schools that you wish to attend.
5. Fill out the dependency status questions.
6. List information on your parents or guardians who may help in covering the cost of your education.
7. You can digitally sign and submit the form when finished.

When Can You Apply?

You can complete your FAFSA form about nine months before the upcoming college year starts. For instance, the FAFSA website reports that the 2025-26 form that is good for July 2025 to June 2026 will be available on December 1, 2024.

What Is the Deadline?

The deadline for completing your FAFSA form will vary as there are three factors to consider:

• School: The school you wish to attend might have a due date that is earlier than the state or federal date.
• State: Each state has its own FAFSA deadline, with some states having priority deadlines that come before the federal date. In this case, FAFSA considers the state you currently live in as the state you have to meet the deadline for.
• Federal: The federal due date is June 30.

Do You Have To Mail Anything?

The last point to see with the FAFSA form is that you can complete it all electronically. You don’t have to mail out any documentation to a school unless the school directly asks for it.

FAFSA is also free to fill out, so you don’t have to mail any cash or checks. Remember that any site that claims you need money to access or complete the FAFSA is a scam.

A Final Word

College doesn’t have to cost as much as you assume when you fill out the FAFSA form. Be sure to complete the form before heading off to college and be aware of the forms of aid you may receive. The results you’ll get will vary based on your need and school, but you’ll find it easier to pay for college through the aid you receive from this form.