FAFSA is an acronym for Free Application for Federal Student Aid. FAFSA is an application for financial aid from the federal government. Our Free Education Guide has detailed step by step instructons on how to apply for FAFSA and other loan and grant programs.

All students wishing to obtain a loan from the federal government will need to fill in this application. It is advisable to fill up this form well in advance so that in case of any problems they can be sorted out within the FAFSA deadline. The last date of application is not the same every year and keeps on varying; however it is generally in beginning of the summer.

When filling in the FAFSA, you need to create a virtual account and obtain a FAFSA PIN. This pin will help you in filling up the form and can be continuously used whenever you apply for federal government loans. Remember it is always better to enquire directly to institution to which you are applying for any formalities that needs to be completed. Some institutions may have additional forms for applying to the federal government that need to be filled in with the FAFSA.

The financial aid from the federal government is provided for one year only and is not renewed automatically. You need to apply every year for the continuation of the aid. You may have to meet a number of changing requirements every year for FAFSA renewal.

When applying for the FAFSA, you need to have your income tax paid for the last year. If it is for a dependent student then the income taxes of the parents need to be cleared before making application for FAFSA. Based on your application the government will decide as how much your family can contribute towards your education. They will also determine whether you qualify for Pell Grants and Stafford loans from the government or not.

An important thing to keep in mind while filling out the FAFSA is that you must fill all the information correctly as any mistake in filling out the information may delay the processing of your application or may even disqualify your application.

One final tip! Fill out the FAFSA application on the web at www.fafsa.ed.gov rather than on paper; it will help you get results faster and your form will be processed before the paper application and don't forget the additional useful information contained in our Free Education Guide with details finacial aid, student grants and loans as well as information on over 1900 colleges.