Undergraduate and graduate, full and part-time students must complete and submit a FAFSA application each year in order to apply for most forms of student aid. Even if students do not qualify for need-based financial aid, they must complete a FAFSA to be considered for most federal student loans. The U.S. Department of Education begins accepting the applications on January 1st. Unfortunately, many find the FAFSA application difficult or impossible to complete on their own.
According to Margaret Spelling, former U.S. Secretary of Education, up to 8 million students do not apply for aid each year because of ‘red tape’ associated with the FAFSA.
Approximately 2 million of the 14 million FAFSA applications filed last year were rejected due to errors.