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FAFSA: What You Need To Know

Updated | Julie Provost
FAFSA

What Military and Veterans Need to Know About FAFSA

FAFSA, also known as the Free Application for Federal Student Aid, is an important part of paying for college. With FAFSA, you can apply for grants and other money for college in the form of work-study, and loans.

Completing and submitting the FAFSA is free, hence the name. In addition to federal student aid, many states and colleges will use your FAFSA information to determine your eligibility for state and school aid as well as some private financial aid providers. You may find some scholarship or grant programs actually require you to use FAFSA as part of the process.

Who is eligible for FAFSA?

You must meet the basic requirements to qualify for federal student aid. You must:

  • Have a financial need for most programs
  • Must be a US citizen or an eligible non-citizen
  • Have a Social Security Number (except qualifying students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau)
  • Must be enrolled at least half-time to be eligible for the Direct Loan Program funds
  • Must maintain satisfactory academic progress
  • Must to sign the certification statement

* Males must be registered with Selective Service

If your parent died as a result of military service in Iraq and Afghanistan after the events of 9/11, you might be eligible for additional Federal Pell Grant funding or for an Iraq and Afghanistan Service Grant.

Can you lose your FAFSA eligibility?

You can lose your FAFSA eligibility. The most common reasons this can happen is if you:

  • Are in default on a federal student loan.
  • Don’t maintain satisfactory academic progress.
  • Are convicted of a drug offense.

Where to Find FAFSA Application Forms

The current FAFSA form is available online at StudentAid.gov. Applicants who have not applied for financial aid before should create a Federal Student Aid ID at the FAFSA official site, which is required to log into FAFSA. Dependent students (unmarried and under the age of 24) may need a parent or guardian to create a FAFSA ID also. They are listed in the paperwork as contributors.

FAFSA was modified, and the changes became effective starting with the 2024-2025 school year. According to the official site, “Previously, technical issues prevented students from inviting contributors who don’t have a Social Security number (SSN) to participate in their FAFSA form. These issues have been resolved, and students can now invite contributors without an SSN to their form.”

Other modifications affecting FAFSA submissions beginning with the 2024-2025 academic year and beyond include greater eligibility for federal student aid, including Pell Grants, and a streamlined user experience. “An estimated 7.3 million students from low-income backgrounds will be eligible to receive Federal Pell Grants due to updates to student aid calculations.”

Modifications to the application mean some “will be able to skip as many as 26 questions, depending on their circumstances. Some applicants could answer as few as 18 questions, which could take less than 10 minutes,” according to StudentAid.gov.

One important change to the form is the addition of “contributors,” who are defined as anyone who shares tax data or personal information on the form. Being listed as a contributor does not necessarily mean there is financial support. Contributing information counts, too. All contributors must have a Federal Student ID before adding to a FAFSA submission.

What information do you need to complete your FAFSA form?

Your FAFSA form can be filled out online, but you will need specific information to do so:

  • FSA ID — a username and password you use to log into Department of Education websites.
  • Social security number.
  • Driver’s license number or ID number.
  • Tax records. The year depends on the year that you are applying.
  • Records of your untaxed income such as child support, interest income, and veterans noneducation benefits.
  • Records of your assets, including savings and checking account balances, and investments such as stocks, bonds, and real estate. These should be listed as the current amounts on the date you sign the FAFSA.
  • The list of the schools you are interested in attending.

If you are a dependent student, you need the information above for your parents or guardians.

College FAFSA Deadlines

Each college may have a separate deadline. Check with the college you want to attend. Ask your college about its definition of an application deadline. “Is it the date your FAFSA form is processed or the date the college receives your processed FAFSA data?” It’s an important distinction.

Do you have to apply to FAFSA every year?

You must apply for the FAFSA every year that you plan to attend school. You can complete a Renewal FAFSA, with many of the questions pre-filled with information you have previously provided. You can also start fresh if you would like to.

What type of aid will FAFSA help me find?

With FAFSA, you can receive different types of aid. You can qualify for grants, which you don’t have to repay unless you withdraw from school, work-study, which is a work program where you earn money for school, and loans, which you borrow and will need to pay back with interest.

Federal student aid may cover tuition and fees, room and board, books and supplies, and transportation. It can also sometimes pay for other related expenses such as a computer and dependent care.

How does the government decide how much aid I will receive?

Your eligibility depends on your Expected Family Contribution, your year in school, your enrollment status, and the cost of attendance at the school you will be attending. The financial aid office at your college or career school will determine how much financial aid you can receive.

The process starts with determining your cost of attendance (COA) at that school and your Expected Family Contribution (EFC). Subtract your EFC from your COA to determine your financial need and how much need-based aid you can get.

There is also a review of non-need-based aid, and your school calculates your cost of attendance and subtracts any financial aid you have already been awarded.

Can veterans still apply for FAFSA if they can also get the GI Bill?

Yes. Even if someone is receiving a GI Bill, they can still receive federal benefits.

 

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About the author

Julie Provost
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Julie Provost is a freelance writer, and blogger. She lives in Tennessee with her National Guard husband and three boys.

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