FAFSA

The Free Application for Federal Student Aid (FAFSA) is the single most important form for accessing financial aid for college. It is a government application used to determine your family's eligibility for all types of financial assistance, including:

Federal Pell Grants: Free money that does not need to be repaid.
Federal Student Loans: Low-interest loans (Subsidized and Unsubsidized).
Federal Work-Study: Money earned through part-time jobs on campus.
State Aid: Many state grant and scholarship programs (like the Arkansas Academic Challenge) require a completed FAFSA.
Institutional Aid: Most colleges and universities use your FAFSA data to award their own grants, scholarships, and reduced tuition rates.

Why Filing is Critical

(The Deadline is Not the Only Date)

While the federal deadline is usually far off (June 30th of the academic year), you must file as soon as possible for two critical reasons:

"First Come, First Served" Aid: Many state and school-based grants and scholarships are awarded until the money runs out. Filing late may mean you miss out on free money, even if you are eligible.
State and School Deadlines: State programs (like those in Arkansas) and many colleges have priority deadlines as early as October, November, or December. Check the deadlines for every school you are applying to!

FAFSA Filing Checklist: 4 Steps to Success

Create Your FSA IDs

The FSA ID is your username and password, and it serves as your legal signature. You cannot submit the FAFSA without one.

Who Needs One: The student and all required "Contributors" (usually one parent, and their spouse if they are married and live together).
What You Need: A unique email address for each person (student and parent cannot share an email), and a Social Security Number (if you have one).
Action: Go to StudentAid.gov/fsa-id/create-account/launch to create your account now.

Gather Required Information

You will need the following information for yourself and your parents/contributors:

2023 Federal Tax Returns and W-2s (The application for 2025-2026 uses 2023 data).
Records of money earned (e.g., untaxed income, interest income).
Records of assets (Current balances of cash, savings, and checking accounts, as well as the net worth of investments, businesses, and farms).
List of the schools you want to receive your FAFSA information (up to 20 schools).

Complete the FAFSA Online

Review and Follow Up

After you submit, you will receive a FAFSA Submission Summary (FSS) which replaces the old Student Aid Report (SAR).
Review this document for errors. If you need to make corrections, log back in to StudentAid.gov.
Wait for your colleges to contact you with their financial aid offers (usually in the spring).

Go to the official website: StudentAid.gov
Log in as the student to start the application.
When prompted, ensure all contributors provide consent and approval for the IRS Direct Data Exchange (DDX). If consent is not provided, the student will not be eligible for federal student aid.