<p>Could someone please explain FAFSA to me? Also, when do I need to fill it out? Thanks!</p>
<p>FAFSA is a form that you and your parents must complete in order to be eligible for most financial aid. It is the very first step in the aid process. Though you can fill it out on line, I suggest going to any college or highschool office and getting a paper version to go over first so you have everything righ there when you go on line. </p>
<p>First it verifies your eligibility for aid. Whether you are truly a citizen, have filed for aid before, whether this is your first undergrad degree, whether your family has run out on federal loans before, you are registered with selective service if you are a male who has attained his 18th birthday. IT then goes over your and your family's financial situation, and come up with an Expected Family Contribution. That EFC number determines the amount of federal and state aid you can expect. It is also a first indicator to the colleges as to how much your family should pay for college. Not an indicator on what the colleges are going to give you necessarily, but it it a first step. You have have a very high EFC, it is doubtful you are going to get much financial aid. IF you have a low EFC, you should be looking at schools that tend to give 100% of need. If there is a difference between what your family wants to pay, or can pay, and the EFC, it is time to sit down and discuss the situation because the EFC is going to prevail unless you have some truly outstanding issues, and even them most schools will go with the EFC.</p>
<p>One thing that I can't express enough...do NOT go to <a href="http://www.fafsa.com%5B/url%5D">www.fafsa.com</a> to fill out your fafsa. That is NOT the website for the FAFSA. The fafsa's website is <a href="http://www.fafsa.ed.gov%5B/url%5D">www.fafsa.ed.gov</a>. I just thought I'd toss that in there. The thing about the fafsa is that it stands for the free application for federal student aid, and people have to pay money for some reason at <a href="http://www.fafsa.com%5B/url%5D">www.fafsa.com</a>. So, do NOT go there. Again, the official site is <a href="http://www.fafsa.ed.gov%5B/url%5D">www.fafsa.ed.gov</a>.</p>
<p>If you are a rising senior, you cannot file the faafsa until jan 1</p>
<p>And, it is good to check the deadline for your school as well. I can't stress enough how important it is to get your FAFSA in early or at least on time. I think the earlier the better because you can get contacted by your financial aid office if you need to make corrections. The most common correction is a parent's signature or agi = taxes paid. Anyway, I am sure this all too early, but be sure to watch deadlines.</p>