FAFSA is a short of Free Application for Federal Student Aid. FAFSA is an important form in apply student financial aid in United States. FAFSA application is the gateway to be considered for the nine federal student aid programs and the 605 state and most of the institutional aid available.
FAFSA began be accepted by The U.S. Department of Education in January 1 of each year for the upcoming academic year. Each application period is 18 months; most federal, state, and institutional aid is provided on a first come, first served basis. Students are advised to submit a FAFSA as early as possible for consideration for maximum financial assistance.
Applicants who have completed a FAFSA in previous years may submit a renewal FAFSA. Any information that has changed must be updated annually.
FAFSA consists of numerous questions (at least 130 for the 2010–2011 academic year) regarding a student's (and their family's) assets, income, and dependency. These are entered into a formula that determines the Expected Family Contribution (EFC). A number of factors are used in determining the EFC including the household size, income, number of students from household in college, and assets (not including retirement and 401(k) funds). This information is required because of the expectation that parents will contribute to their child's education, whether that is true or not.
FAFSA has a website named www.fafsa.ed.gov where you can get more information about this student aid application.
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