Federal regulations now permit virtually all U.S. citizens to receive some form of financial assistance. The Free Application for Federal Student Aid – or FAFSA — is the first step toward paying for college. Colleges and schools require the FAFSA so they can reliably evaluate the financial aid needs and credit-worthiness of a student. Even if you are serving in the military fafsa is a must to apply for college education. The eligibility criterion for filling up fafsa is you should be in high school and also enroll at least half time in college.

If you are an American citizen and eligible for a student loan you have to submit fafsa. This helps the lender/ bank to know about your credit worthiness. If you are a foreign student enrolling for higher education in U.S then your co-signer of the student loan should furnish his/her credit details and how much they are ready to pay for your college education. Apply as early as January 1 to become eligible for financial aid. Do not leave any entry blank in the fafsa form. This may disqualify you for aid. The FAFSA requires you to provide information about your investments and their net worth. If you’ve got a poor performing nvestment, selling it could land you more aid.