FAFSA is not a loan!

FAFSA (is Free Application for Federal Student Aid) it is a free service that the federal governments offers to help you fund your higher education goals. It determines eligibility for federal grants and loans such as Federal Stafford loans and Federal Pell grants. You always want to fill this form out it helps you get free money or loans that either accrue no or little interest while you are in school. Never pay for this application and only use the link I’ve provided it is the federal goverments website.

The Free Application for Federal Student Aid (known as FAFSA), is a form that can be filled out annually by current and anticipating university students (both undergraduate and graduate) and sometimes their parents in the United States to determine their eligibility for federal student financial aid (including grants, loans, and work-study programs). In addition, most states and schools use information from the FAFSA to award non-federal aid.

The FAFSA consists of numerous questions regarding the student’s finances, as well as those of his or her family; these are entered into a formula that determines the Expected Family Contribution (EFC). A number of factors are used in determining the EFC including the family size, income, number in college, assets (not including retirement and 401K). The FAFSA does not have questions related to student or family race, ethnicity or religion.

A Student Aid Report (SAR), which is a summary of the FAFSA responses, is forwarded to the student. The student should review the SAR carefully for necessary corrections. An electronic version of the SAR (called an ISIR) is sent to colleges/universities the student selected on the FAFSA. The ISIR is also sent to state agencies that award state need-based aid.

but filling out the fafsa is the only way to qualify yo get your federal student aid. which is a loan from a lender. i would know this since i enroll students in college on a daily basis. the loan is actually a Stafford loan or title IV funding.