Free Application for Federal Student Aid or FAFSA is known to be a form that is required to be filled properly by the parents and well as the candidates themselves in order to apply for a financial aid. This includes student loans, scholarships, grants and work-study programs. Apart from the federal government, states, schools and financial institutions use the data provided by the FAFSA in order to determine the eligibility of a student for the non-federal aid.
Every year, the Department of Education provided new FAFSA for the following academic year. You can get a FAFSA application from the online website or the counselor of your high school & “What does fafsa stand for” is the question of many individuals . In case you choose the online option, then you require applying for the PIN or Personal Identification Number. You need to submit your DOB, name, address and social security number. No sooner you receive the PIN, you can fill up the form and get it printed to send through mail or directly submit online.
The online version of FAFSA is available only on 1st January, while the printed form is available during the second week of the month of October. The last date of the form submission is usually 30th June but one can submit it also on January 2nd in either of the formats. Usually, most of the universities and colleges prefer to provide the financial aid on the basis of first come, first serve. To get the grant money from FAFSA it is suggested that you submit the form as early as possible. But make sure that you submit within 1st March.