Fafsa Information Students Fill Paying College Federal U.S

The "Free Application for Federal Student Aid" ("FAFSA") is a form that all "prospective" (soon to be; expected to be) and current college students are encouraged to fill out once per year. The U.S. government and colleges and universities throughout the United States use the information on the "completed" (filled out) FAFSA to make "determinations" (decisions) about financial aid. For example, the U.S. government uses information on the FAFSA to determine who is eligible for federal financial aid programs, such as Pell Grants, Stafford Loans, Perkins Loans, and work-study programs.

The FAFSA requests information about the student's identity, income, and "assets" (things a person owns that can be sold for money). If the student is a "dependent" (someone whom others are financially responsible for), the FAFSA request information about the parents' or other caregivers' income and taxes. And if the student is married, information must be provided about the student's "spouse" (husband or wife). The information must be "documented" (proven in writing), typically through "paystubs" (receipts for payments one has received), bank "statements" (written reports of activity in a bank account over a period of time), and "tax returns" (papers filed each year when paying one's taxes).

Students can fill out the FAFSA for free in one of three ways: on paper, online, or even over the phone. Some companies will help students or fill out the FAFSA for students in exchange for payment of a fee.