What is FAFSA?

Learn about FAFSA and how to apply.

Blank FAFSA Form

Many students can’t cover all college costs in a single payment, so how do they pay for and attend college? They fill out their Free Application for Federal Student Aid, also known as FAFSA.

What is FAFSA?

FAFSA is a form that college students can fill out to determine their eligibility for financial aid. This financial aid can come in different forms, including grants, scholarships, work-study programs, and loans. It’s a free tool designed to ease the financial stress of rising tuition and living expenses.

Types of Financial Aid

Once you submit your FAFSA, you may qualify for one or more of these aid categories:

  • Federal Grants - Typically do not have to be repaid unless your enrollment status changes.

  • Scholarships - Awarded to students by nonprofits, schools, or private organizations based on merit, talent, need, or field of study.

  • Work-Study - Earn money through a part-time, campus-based job to help pay education costs. 
  • Federal Student Loans - Borrowed from the US Department of Education at fixed interest rates, these loans need to be repaid at a later time. 

How Much Financial Aid Do I Need?

After filling out and submitting your FAFSA form, you will receive an amount of financial aid through one of the different types of aid. All of this is based on your current financial status, educational plan, and cost of college. College costs are more than just your tuition and room and board. You can determine your Cost of Attendance (COA) through our college financial courses on Banzai.

How Do I Fill Out My FAFSA?

Each year, the FAFSA form opens on October 1st and is due at the end of June. That means that this year's FAFSA deadline has already passed for the 2025-26 school year, but it’s never too early to prepare your documents for next year.

To apply for FAFSA or to check the status of your application, go to studentaid.gov.

Interested In Learning More?

Preparing for college finances can feel overwhelming, but you don’t have to navigate it alone. Take our free Banzai Coach FAFSA course, personalized to your situation and projected college costs. You can take the course for free here: Filling Out The FAFSA

Turn financial uncertainty into confidence, one step at a time.