The Free Application for Federal Student Aid (FAFSA) is a free form that students use to apply for federal financial aid for college, career school, or graduate school.

Students can submit the FAFSA online. It usually takes three to five days for the FAFSA to be processed, after which students receive a Student Aid Report (SAR). The SAR details a student's eligible aid and Expected Family Contribution (EFC), which is the amount a student and their parents are expected to contribute toward college costs. 

Students must complete the FAFSA each year, as their financial aid award amount may change depending on their financial status