The Free Application for Federal Student Aid (FAFSA) is now available for the 2020 – 2021 school year. The FAFSA form is completed for current and incoming college students to determine eligibility for student financial aid. It is recommended that everyone file a FAFSA, even if you are unsure if you will be eligible for financial aid.
When you complete the FAFSA, make sure access the correct website. There is only one official FAFSA website. This site is associated with the U.S. Department of Education. The application is free. If you search Google for FAFSA, there are other sites that charge for FAFSA completion.
After filing the FAFSA, you will receive a Student Aid Report (SAR) . The SAR is a summary of what you reported on the FAFSA as well as the Expected Family Contribution (EFC). The Expected Family Contribution (EFC) is calculated based on a federal formula using the information you entered. The resulting index number is used to determine the student’s financial aid package.
Be aware, many states and colleges have varying deadlines, so it is recommended that you check with the individual institutions and file as soon as possible after October 1.