What is FAFSA?
Definition
The Free Application for Federal Student Aid (FAFSA) is the U.S. Department of Education form that determines eligibility for federal grants, work-study and student loans. States and colleges also use it to award their own aid. It opens each October for the following academic year.
Real-World Example
A high school senior files the FAFSA in October 2026. The form calculates a Student Aid Index (SAI) of $2,400, which qualifies her for a partial Pell Grant, subsidized Direct Loans and a state tuition scholarship.
Why It Matters
Every year roughly $3.75 billion in Pell Grants goes unclaimed because eligible students never complete the FAFSA. Filing takes less than an hour and unlocks nearly all forms of federal aid.
Frequently Asked Questions
Is FAFSA only for low-income families?
No. Every U.S. student should file — many federal loans and college merit awards require a FAFSA on file regardless of income.