If you are in the process of applying to college or graduate school, you have probably heard about the FAFSA® and have a general idea about what the FAFSA is. But do you know that submitting the FAFSA is one of the most important things—if not the most important thing—you can do in terms of financing your college or graduate school education?
What Is FAFSA?
FAFSA stands for Free Application for Federal Student Aid. It is the form students complete to apply for federal student aid for college or career school, including grants, work-study funds and loans. States and colleges may also use FAFSA information to determine eligibility for their own financial aid. Colorado Technical University participates in a variety of federal and state financial aid programs that can assist students who qualify with tuition and fees.1
Who Should Fill Out the FAFSA?
Because the FAFSA is used to determine a student’s eligibility for federal financial aid, any student who wants to be considered for such aid must complete and submit the form. However, it is important to note that federal financial aid is only available to U.S. citizens and “eligible noncitizens” (those who belong to certain immigration categories). If you are neither a U.S. citizen nor an eligible noncitizen, you should speak to a high school guidance counselor or your college’s financial aid office to determine whether to submit a FAFSA to apply for state and school student aid.2
You should submit a FAFSA every year that you plan to attend college. For many people, this means filling out a FAFSA for the first time when you are still in high school. If you are a dependent, your parents/guardians will need to provide their information as well. If you are not a dependent, parental/guardian information is not required; however, if you have a spouse, your spouse’s information may be required. (There are a number of questions on the FAFSA itself that ultimately determine a student’s dependency status—answering “yes” to one or more of these questions means that the student is considered “independent” and therefore does not have to submit parental/guardian information.3)
Is the FAFSA Really Free?
Yes. The FAFSA is free to complete and submit through the official StudentAid.gov website.
What Information is Required on the FAFSA?
The FAFSA requires that the student (and/or the student’s parents/guardians or spouse, sometimes referred to as a “contributor”) supply the following information:4
- Social security number (or A-number for eligible non-U.S. citizens)
- Federal income tax return information; records of child support received; and your current balance of cash, savings and checking accounts
- Bank statements and records of investments
- Records of net worth of investments, businesses and farms
- Records of untaxed income (if applicable)
- A StudentAid.gov account username and password
What Are the Federal Student Aid Eligibility Requirements?
Submitting a FAFSA application does not mean that a student will automatically qualify for federal financial aid—the purpose of the FAFSA is to determine student financial aid eligibility. Submitting the form is only the first step of the process.
The U.S. Department of Education lists a number of basic eligibility requirements for federal student aid. A student must:5
- demonstrate financial need for need-based federal student aid programs;
- be a U.S. citizen or an eligible noncitizen;
- have a valid Social Security number (with the exception of students from the Republic of the Marshall Islands, Federated States of Micronesia or the Republic of Palau);
- be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program;
- maintain satisfactory academic progress in college or career school;
- provide consent and approval to have your federal tax information transferred directly into your Free Application for Federal Student Aid (FAFSA®) form;
- sign the certification statement on the FAFSA form stating that you’re not in default on a federal student loan, you do not owe money on a federal student grant, and you’ll only use federal student aid for educational purposes; and
- show you’re qualified to obtain a college or career school education.
Note that these are only general federal student aid requirements—additional eligibility requirements may apply to certain groups of students. Moreover, some federal student financial aid programs may have their own additional eligibility requirements.
How the FAFSA Determines Aid
According to the Department of Education, for those filling out the FAFSA application for the first time, it typically takes less than an hour to gather all necessary documents, fill out the form, review the form, read the confirmation page and submit. For independent students and those who are submitting renewal FAFSA applications, the process typically takes even less time.6
After submitting the FAFSA application, it typically takes the Department of Education one to three days to process forms submitted electronically, and seven to ten days to process paper forms. Once processed, the student should log in to their StudentAid.gov account to review the FAFSA Submission Summary for accuracy and completeness. In the Student Submission Summary, the student will find their Student Aid Index (SAI), which is used by postsecondary institutions to assess both federal and nonfederal student aid eligibility and is sent directly by the Department of Education to the schools listed on the student’s FAFSA application.7
The FAFSA now uses the Student Aid Index (SAI) rather than the Expected Family Contribution (EFC).
How Often Do You Need to File the FAFSA?
You should submit a FAFSA every year that you plan to attend college.
The FAFSA is valid for an award year, which runs from July 1st through June 30th. The federal FAFSA application deadline is typically 11:59 p.m. Central time (CT) on June 30 of the award year for which you are applying. However, each state and/or college may have its own deadline. The Department of Education provides a list of individual state deadlines for convenience but suggests confirming those dates by visiting the state’s higher education agency website.8
How to Get Started
When you’re ready to apply, review CTU’s step-by-step guide on how to apply for the FAFSA.
Where Can I Get Help Filling Out the FAFSA?
The Department of Education’s FAFSA® Help page is a good place to check out if you have questions about filling out the FAFSA. It contains a number of FAQs as well as links to popular FAFSA help topics. Alternatively, you could call the Federal Student Aid Information Center at 1-800-4‐FED AID (1-800-433-3243) and speak to a representative.
Prospective and current CTU students who have questions about the FAFSA or financial aid can refer to our list of financial aid FAQs or reach out to us directly with questions. Current students can also reach a financial aid advisor through our mobile app or the CTU Virtual Campus.
Don’t Count Yourself Out
When it comes to financial aid, one of the biggest mistakes you can make as a student is not filling out the FAFSA because you assume that you will not be able to demonstrate financial need—the first of the basic federal student aid eligibility requirements we discussed above. But that determination is not up to you. It’s up to the U.S. Department of Education. So don’t count yourself out—submit your FAFSA every year that you plan to attend school, and reach out for help if you have questions about how to apply for financial aid.
Frequently Asked Questions
FAFSA, or the Free Application for Federal Student Aid, is the form students complete to apply for financial aid for college or career school. It is used to determine eligibility for federal grants, work-study and loans, and is also used by many states and schools.
FAFSA stands for the Free Application for Federal Student Aid. It is free to complete and submit through the official StudentAid.gov website.
It is used to determine your eligibility for federal student aid, including grants, federal work-study and federal student loans. States and schools may also use information from the FAFSA when awarding their own financial aid.
Any student who wants to be considered for federal financial aid must complete and submit the FAFSA. Students should submit a FAFSA every year that they plan to attend college.
Yes. The FAFSA is free to complete and submit through the official StudentAid.gov website.
The FAFSA produces a Student Aid Index (SAI) based on the information provided on the form. Postsecondary institutions use the SAI to assess federal and nonfederal student aid eligibility.
Next Steps
Ready to take the next step toward financing your education? Learn more about how to apply for financial aid and explore the options available to qualifying students.
1 Federal Student Aid, U.S. Department of Education, “What Is the FAFSA® Form and Why Should I Fill It Out?,” https://studentaid.gov/help/fafsa (last visited September 24, 2026).
2 Federal Student Aid, U.S. Department of Education, “Eligibility for Non-U.S. Citizens,” https://studentaid.gov/understand-aid/eligibility/requirements/non-us-citizens (last visited September 24, 2026).
3 Federal Student Aid, U.S. Department of Education, “Dependency Status,” https://studentaid.gov/apply-for-aid/fafsa/filling-out/dependency (last visited September 24, 2026).
4 Federal Student Aid, U.S. Department of Education, “What Information Will I Need to Fill Out a FAFSA® Form?,” https://studentaid.gov/help/info-needed (last visited September 24, 2026).
5 Federal Student Aid, U.S. Department of Education, “Eligibility Requirements,” https://studentaid.gov/understand-aid/eligibility/requirements (last visited September 24, 2026).
6 Federal Student Aid, U.S. Department of Education, “How Long Will It Take to Fill Out the FAFSA® Form?,” https://studentaid.gov/help/how-long (last visited September 24, 2026).
7 Federal Student Aid, U.S. Department of Education, “What Happens After I Submit the FAFSA® Form?,” https://studentaid.gov/help/after-fafsa (last visited September 24, 2026).
8 Federal Student Aid, U.S. Department of Education, “FAFSA® Application Deadlines,” https://studentaid.gov/apply-for-aid/fafsa/fafsa-deadlines (last visited September 24, 2026).
Financial aid is available for those who qualify. Colorado Technical University cannot guarantee employment, salary or career advancement. REQ2262545 09/2026