What Is FAFSA? Everything You Need to Know

What Is FAFSA?

By Jeremy Bowman – Updated Sep 14, 2025 at 5:07 PM

Key Points

Filing the FAFSA is essential for accessing federal student aid, grants, and loans.
Annual FAFSA submission reflects changes in financial needs and tax information.
Understanding your financial aid offer and costs can optimize college funding.

Student loans are back in the news as the debate over restarting loan payments and student loan relief is on the docket again.

The federal government remains the largest provider of financial aid, making it a central player in any potential student loan reform programs, and the FAFSA is the starting point for many student borrowers. It's crucial to be familiar with it if you or a child are planning to take out student loans.

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Financial aid written on a Post-It note lying on a desk next to a pile of hundred dollar bills and drawings of a cap and a bag of money. — Image source: Getty Images.

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Non-governmental loans used to fund education, provided by banks or lenders, often with varying terms and interest rates.

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About the Author

Jeremy Bowman has been a contributing Motley Fool stock market analyst, covering technology, consumer goods, and macroeconomic trends since 2011. Before The Motley Fool, Jeremy was a newspaper reporter, restaurant manager, and English teacher abroad. He holds a bachelor’s degree in English from Colorado College and a master’s degree in business administration from American University. One of his Motley Fool headlines was briefly featured on Late Night with Stephen Colbert.

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