FAFSA

The Free Application for Federal Student Aid (FAFSA) will determine your eligibility for federal grants and loans, state grants and scholarships and some private scholarships.

 
 

 

What is the FAFSA?

The Free Application for Federal Student Aid (FAFSA) is a form used by U.S. students and their families to apply for federal financial aid for college or graduate school. It's the primary way the federal government determines your eligibility for various types of financial assistance, including:

  • Federal Grants – Need-based grants like the Pell Grant.
  • Federal Loans – Loans with generally lower interest rates and better repayment terms, such as Direct Subsidized and Unsubsidized Loans.
  • Federal Work-Study – A program that provides part-time jobs to help students pay for their education.
  • State and Institutional Aid – Many state governments and colleges use FAFSA information to determine eligibility for their own financial aid programs.

The FAFSA collects financial and personal information from you and your family, including income, tax returns and other assets. The information is then used to calculate your Student Aid Index (SAI), which is used by schools to determine how much financial aid you might receive.

The FAFSA is important because it opens the door to a wide range of financial assistance, and it's usually required by most colleges and universities before they can award you any kind of financial aid.

 

 

The Student Aid Index (SAI)

The Student Aid Index (SAI) is designed to be a more accurate reflection of a family's ability to pay for college. It has replaced the EFC (Estimated Family Contribution) and serves a similar purpose: helping schools determine a student's eligibility for federal financial aid, including grants, work-study and federal student loans.

Key Differences Between the EFC and SAI:

  • EFC was used as a specific dollar amount indicating what the government expected a family to contribute towards the cost of education.
  • SAI doesn't have a set dollar figure like the EFC did. Instead, it's used in a broader way to help determine eligibility for need-based financial aid, but it no longer communicates a specific contribution amount.

This simplifies the process for students and families, as the SAI is intended to be more transparent and easier to understand. It also expands eligibility for certain types of aid, like the Pell Grant, by lowering the income thresholds.

So, when you fill out the FAFSA, instead of an EFC, the results will now show your SAI, which will be used to determine your financial aid package.

 

When to file

The 2025-2026 FAFSA is expected to be made available in December 2024. ÓÐÁϺÐ×ÓÊÓƵ recommends all students submit the FAFSA, as soon as you can, every academic year. The FAFSA qualifies you for federal grants and loans, but it’s also used to qualify for some scholarships, like the Nanook Commitment Scholarship, ÓÐÁϺÐ×ÓÊÓƵ Performance Scholarship and other third-party scholarships.

 

 

Have you been selected for FAFSA Verification?

Don't be concerned! The Department of Education selects some students for Verification. The FAFSA Verification process double-checks and confirms the information you’ve submitted on your FAFSA. About one third of the people who file the FAFSA each year are selected for verification.

This doesn't necessarily mean you filed incorrectly or that you won't receive aid, but additional documents are required before the Department of Education can process your FAFSA. ÓÐÁϺÐ×ÓÊÓƵ's Financial Aid Advisors have detailed information about what you need to submit and can help you submit your documentation.

 

 

Apply for Aid

Financial Aid can be a mix of loans, which you'll have to pay back, grants and other forms of aid. Apply for aid to see what you qualify for.

Other types of aid at ÓÐÁϺÐ×ÓÊÓƵ

You may be eligible for scholarships, grants, Federal Work-Study and other types of financial aid to go toward your costs of education.

Calculate your Costs

View the average expected costs for tuition, fees, housing and food — or use the cost calculator to get a personalized estimate for you.