Do you know what FAFSA is? If you’re in college or preparing to start, it’s important that you do.
FAFSA stands for the Free Application for Federal Student Aid. It’s the form students complete to determine eligibility for federal financial assistance for college.
When you submit the FAFSA and qualify for aid, you may receive awards such as a Pell Grant, a Stafford Loan, a Federal Perkins Loan, or participation in a federal work-study program.
These financial awards can make college more affordable by providing grant money, low-interest loans, or work opportunities that offset education costs.
Key FAFSA tips you need to know
- Complete your FAFSA at Fafsa.ed.gov. That is the official site to submit your application.
- Be sure to submit the form. Many students never file and miss out on aid. You do not automatically receive federal student aid—applying through FAFSA is required to be considered. Also remember you must file a FAFSA every year while you remain in school; it is not a one-time application. Set a recurring reminder on your calendar so you don’t forget.
- File before the deadline. There are deadlines for FAFSA submissions—both federal and state or institutional—and some aid is awarded on a first-come, first-served basis. Submit well in advance of deadlines to maximize eligibility.
- You do not need to be accepted to a specific college before adding it to your FAFSA. You can list schools while you’re still deciding and update the form later if needed.
- Gather required documents in advance. Typical documents you’ll need include Social Security numbers, recent federal income tax returns, W-2 forms, and information on bank accounts, investments, and other assets. Having these ready will make the application faster and more accurate.
- Avoid errors. Enter your information carefully and double-check everything—name, address, Social Security number, income and tax data, and school codes. Mistakes can delay aid or complicate eligibility determinations.
- Contact the financial aid office at any colleges you’re interested in to verify if additional forms or school-specific requirements apply beyond the FAFSA.
Below are practical ways to reduce college expenses and increase income while you’re a student or preparing for school. These suggestions focus on legitimate, low-risk approaches to help you save money or earn extra cash.
- Start a blog. Blogging can be a source of income. With the right approach, it can grow into a sustainable business. If you pursue blogging, track your progress and treat it as a long-term project that requires consistent work.
- Use cash-back shopping services. Websites and browser extensions that offer cash back on purchases can reduce regular online spending. Choose reputable services and compare offers to get the best value.
- Take online surveys and test products. Survey panels and product testing platforms pay users for feedback. Joining multiple legitimate sites can help you receive more opportunities and more consistent earnings, though this won’t replace full-time income.
- Save money on groceries with meal planning. Creating weekly meal plans and using shopping lists can cut food costs significantly. Preplanned menus and bulk cooking reduce waste and lower per-meal costs.
- Reduce entertainment and subscription costs. Cutting cable and subscription services, or using free over-the-air TV with a digital antenna, can save a substantial amount monthly. Prioritize the subscriptions you derive the most value from.
- Try rewards and cash-for-task sites. Some platforms reward users for activities like online searches, grocery coupon redemption, and simple tasks. Use trustworthy companies and avoid services that require payment to join.
Do you have student loans? What do you wish you had known before taking on college costs? What other FAFSA tips can you share?