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The FAFSA: An Overview
What is the FAFSA?
The Free Application for Federal Student Aid (FAFSA) is the gateway to nearly all financial aid for college. Whether you're seeking grants, work-study, or federal loans, it all starts here.
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The FAFSA opens October 1st each year. Many state and institutional aid programs are first-come-first-served, so file as early as possible.
Who Should File?
Almost everyone. Even if you think your family income is too high, many schools use FAFSA data for their own merit aid calculations. Filing costs nothing and takes about 30–45 minutes.
What You'll Need
- Social Security numbers for student and parents
- Federal tax returns (or tax transcripts) from two years prior
- Records of untaxed income (child support, interest income, etc.)
- Bank statements and investment records
- An FSA ID (create one at studentaid.gov)
The Expected Family Contribution (EFC)
After filing, you'll receive a Student Aid Report with your EFC — the amount the government calculates your family can afford to pay. Schools use this number to determine your aid package.
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Your EFC doesn't mean that's what you'll pay. It's a starting point. Many schools meet a portion of demonstrated need, and merit aid can reduce costs further.
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FAFSA Preparation Checklist
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