Each school year, college students look for new ways to pay for their college tuition. One of these ways is the Free Application for Student Aid. The application allows students to receive student loans from the government for the purpose of paying their tuition and expenses. For new students, it is a step that can relieve some financial uncertainty and shine light on the path to starting college.

The FAFSA is a form that the government uses to determine a student’s eligibility to receive student loans. There is no fee, and eligible students are granted the ability to borrow money from the federal government for each semester they attend college.

The process can be done entirely online at the FAFSA website, studentaid.gov. New users will create an account, which streamlines the process of returning to complete the FAFSA annually. A personal account includes many details about current loan status and how to find help and resources. The student aid website will also save progress as the form is completed in case of interruption.

The website gives clear instructions on how to best fill out each part of the form. Items to have on hand during the process are your social security number, driver’s license number or alien registration number, if not a U.S. citizen. It is important to note that choosing a college is a vital step before completing this form as it asks which college students plan to send student loans to.

Most applicants will also need tax information, such as a W-2 form from an employer, as well as spouse or parent tax info depending on the student. Many young students are claimed as dependents on their parents’ taxes and will need to know parental tax information before completing the FAFSA, as well as include a parent’s social security number.

The FAFSA will also ask some personal questions, including race/ethnicity, military service and questions about the applicant’s parents. Many of these personal questions are optional, but answering all of them could help the applicant secure special types of aid that are reserved for specific students.

Students who are unable to fill out the form on a computer can use the Student Aid mobile app. It is also possible to have FAFSA forms printed and mailed in.

Students who are applying for aid for the 2022-23 school year may file a FAFSA application as early as Oct. 1, 2021.

After the FAFSA has been received for processing, the student will receive a confirmation via email, and may receive other email updates. The processing usually takes three to five days.

After the FAFSA has been taken care of, the school listed on the FAFSA form will have information regarding the loan amount. The student will then accept or choose not to accept those funds through the college’s financial aid office.

It is also important to know that whether or not a student plans on accepting student loans, a FAFSA is still helpful. It is usually a prerequisite in order to receive special scholarships and other things such as activity waivers from a university.