FAFSA-Free Application for Federal Student Aid

FAFSA-Free Application for Federal Student Aid

FAFSA – Meaning

The Free Application for Federal Student Aid is shortly referred to as FAFSA.  It is basically an application form used by students who are in requirement of financial aid to pursue their higher education.  This form is the gateway to obtain loans from the government and from most of the financial institutions.

It is an official document in which students have to apply for availing federal loans.  Filling the FAFSA form is the first and foremost step in Federal Student loan program.  One who is in requirement of financial assistance, has to determine hisher eligibility to obtain the federal loans is done through FAFSA.

FAFSA – an Overview

FAFSA helps to identify deserving students who are in requirement of financial aid for their college and higher education. The FAFSA mechanism is that a systematic verification is done regarding the status of the student before processing the loan. FAFSA form helps the government to provide loan facility to the students who are from poor income families.

Eligibility to fill FAFSA form

The following are the eligibility criteria for the applicant to fill FAFSA form. They are

• The applicant must be a U.S. Citizen or an eligible non-citizen.
• The applicant must have a valid Social Security number
• The student who is applying should possess a high school diploma or GED (General Education Development) certificate or pass in an exam approved by the U.S Department of Education.
• The student must be enrolled as a student in a regular degree in a school or college which supports federal student aid programs.
• The student must not owe refund for any federal grants or scholarships.
• The applicant must demonstrate hisher financial needs.

Application Procedure

Once the applicant confirms himselfherself is eligible to apply for FAFSA, he has to follow the procedure given below

• Collecting the details to answer the FAFSA and also gathering the applicant’s parent’s information.
• Filling the FAFSA form on the Web Worksheet.
• E-signing with a PIN(Personal Identification Number)
• After getting the PIN, the applicant has to fill the FAFSA form on the Web.

FAFSA follow-up

After successful filling of FAFSA form electronically, federal Student Aid will analyze the applicant’s FAFSA and process the same. If the applicant is eligible, the federal committee will send a Student Aid Report. A copy of the Student Aid will be mailed to the applicant’s school which is listed in the FAFSA.