Is FAFSA Government Aid?
FAFSA is the Free Application for Federal Student Aid. The form determines a student's financial ability to pay for post-secondary education. The application is used to see whether a student is eligible for aid from a variety of institutions.
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Application
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The easiest way to complete a FAFSA application is online. The FAFSA form can be completed online and determines how much money a student is expected to contribute to his college education. The completed form is sent to schools listed by the applicant. Applicants can view the information online through a Student Aid Report (SAR).
Financial Aid Office
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Each college or university has its own financial aid office that determines how much and what type of aid an applicant can receive from the university. Applicants should check for additional information required by the university.
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Types of Aid
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Students who receive loans for college must repay them, plus interest, after graduation. A student may be able to receive grants, loans or participate in a work-study program. Stafford and PLUS are types of government loans that are repaid at low interest rates. Grants do not need to be repaid.
Deadlines
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Each university has its own deadlines for financial aid applications. Universities impose deadlines for financial aid applications, some as early as January for the following fall semester. Applicants should follow the procedures for each institution.
Regulations
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FAFSA applicants must hold a high school diploma or GED, use the funds only for educational purposes, register for the selective service (if male) and not be in default for any other loans.
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References
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