The FAFSA form can be completed online and determines how much money a student is expected to contribute to his college education. The completed form is sent to schools listed by the applicant. Applicants can view the information online through a Student Aid Report (SAR).
Each college or university has its own financial aid office that determines how much and what type of aid an applicant can receive from the university. Applicants should check for additional information required by the university.
A student may be able to receive grants, loans or participate in a work-study program. Stafford and PLUS are types of government loans that are repaid at low interest rates. Grants do not need to be repaid.
Universities impose deadlines for financial aid applications, some as early as January for the following fall semester. Applicants should follow the procedures for each institution.
FAFSA applicants must hold a high school diploma or GED, use the funds only for educational purposes, register for the selective service (if male) and not be in default for any other loans.