Basic Fafsa Facts
This form is required to apply for federal student aid.
What is the FAFSA?
This type of aid is considered “free money”, does not have to be paid back, but you must meet the requirements to be eligible.
What is a grant?
What does FAFSA stand for?
Free Application for Federal Student Aid
This is one of the most common mistakes students make when filling out the FAFSA form.
What is missing the FAFSA deadline?
If you are a dependent student, this person’s information must be included on the FAFSA.
Who is your parent?
This federal agency processes your FAFSA application.
What is the U.S. Department of Education?
This is a program that allows students to earn money while in school.
What is Federal Work-Study?
This a tool that allows you to provide your tax return information easily and accurately. Acronym is DRT.
What is the IRS Data Retrieval Tool (DRT)?
These are the two most common reasons some FAFSA applicants are selected for verification
What is inconsistent information and others are chosen randomly
This type of student does not need to provide parent information on the FAFSA.
Who is an independent student?
The FAFSA form opens on this date each year.
What is October 1st?
This loan is available to students, and the government pays the interest while the student is in school.
What is a Subsidized Direct Loan?
This term refers to a document sent by a college or university to a student, detailing the amount of financial aid support the student is eligible to receive.
What is a Financial Aid Award Letter?
Students must ensure that this part of the FAFSA is signed by the student and a parent (if applicable).
What is the signature section?
If your parents are divorced, you will report the financial information of this parent on the FAFSA.
Who is the parent with whom you lived more during the past 12 months.
This is the maximum Federal Pell Grant amount for the 2024-25 award year.
What is $7,395?
This need-based federal aid grant program is based on the student’s SAI/EFC and helps covering the costs of college.
What is the Pell Grant?
What is the Student Tax Return Information section
What is the Student Financial Information section?
Failing to update this information each year on the FAFSA can result in delays in receiving aid.
What is your financial or household information?
Students in this situation may need to submit additional documentation, like a statement of special circumstances, to explain why they’re unable to provide parental information.
What is a special circumstance?
This term refers to the total cost for attending college, including tuition, fees, housing, and other expenses.
What is the Cost of Attendance (COA)?
This form of financial aid is not a need-based award; however, it is awarded on the basis of academic or other achievements and often does not require repayment.
What is a scholarship?
This term refers to the index number used by financial aid professionals when creating an aid offer. -What is the Student Aid Index (SAI)
What is the Student Aid Index (SAI)
This is a mistake students often make when reporting their income on the FAFSA form.
What is reporting gross income instead of taxable income?
These students may qualify for the FAFSA under a different set of criteria if they meet specific age, employment, or military service requirements.
Who are "independent students"?