A newer version of your browser is available. Older versions may limit your ability to access some of this site's functionality. Citizens Bank recommends upgrading your browser.
If you're college bound and applying for the FAFSA, you may be confused about the types of financial aid available, the difference between federal and private student loans or even how financial aid works. It's easy to get overwhelmed, but taking the time to learn a little about your options can pay off in a big way. Use this guide to answer some of your FAFSA questions, then contact your school's financial aid office or one of our Student Lending Specialists to find out which financial aid options are right for you.
The FAFSA, short for Free Application for Federal Student Aid, is the nationally standardized application form used by the U.S. Department of Education for assessing a family's finances and its ability to support a student's post-secondary education. It is the cornerstone of the entire federal financial aid system for students attending colleges, universities and other post-secondary institutions in America.
More importantly, you and your family cannot apply for any federal student aid, including federally guaranteed student loans and grants, without completing the FAFSA form.
Students should start applying for the FAFSA as soon as possible after the application becomes available on October 1 for a college term that begins in the following fall. Remember that this is not a one-time process; you will need to reapply for the FAFSA for every year that you are in school. The fastest and most convenient way to get started is to apply for the FAFSA online. Once the process is complete, applicants and their parents can return to check the status of their FAFSA application and make corrections online.
Make sure you read the directions and FAFSA questions carefully and fill in all the required information. Don't leave anything blank that applies to you. For more tips on answering FAFSA questions, check out our tips on Filing the FAFSA. If you have any questions about applying for the FAFSA or are unsure about which sections apply to you, contact your school's financial aid office or our Student Lending Specialists for help.
After processing, the information collected from the FAFSA is shared with the applicant and their family, as well as with the financial aid offices of the institutions to which the student has applied and listed on their FAFSA.
The Student Aid Report (SAR), which is generated from completing the FAFSA, shows your Expected Family Contribution (EFC), which is the amount of money your family will be expected to contribute towards your education. The lower your EFC, the more financial aid you may qualify for.
Schools will use the information from the FAFSA to determine eligibility for other types of financial aid provided by the federal government, from your state, or from the school itself. This aid can include grants, scholarships and work study opportunities, so it's important to file your FAFSA as early as possible to take advantage of the limited funds available. Check out the next tab to learn more about campus-based financial aid options. Then, check out our sample financial aid award letter and learn how to use it.
|Helpful Tools & Information|
|Student Loan Calculator||Use our loan calculator to estimate payments and total costs of borrowing.||Learn More|
The zip code you entered is served by Citizens One, the brand name for Citizens Bank's lending business outside of our 11‑state branch footprint. Under the Citizens One brand we offer Auto Loans, Credit Cards, Mortgages, Personal Loans and Student Loans. To learn more, please visit: