Pay for College

Explore college costs and plan how you'll pay for your degree or certificate.

FAFSA Fact or Fiction

Know your FAFSA? Find out with this online quiz.

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1. The sooner you complete the FAFSA after October 1, the more likely you'll receive aid for the next fall semester. Fact or Fiction?

Fact: FAFSA information is used to determine eligibility for most federal, state, and institutional aid. Some of this aid is provided on a first-come, first-served basis. Complete and submit your application as soon as possible!

2. Completing the FAFSA is free. Fact or Fiction?

Fact: Completing and submitting the FAFSA costs no money. Do not fall for scams that promise more aid by completing the FAFSA for you for a fee.

3. You can only qualify for financial aid if you have high grades. Fact or Fiction?

Fiction: A great deal of financial aid requires only that you have financial need. Find out the requirements for particular scholarships and grants as you apply for aid.

4. Financial aid is only offered to students from low-income families. Fact or Fiction?

Fiction: Most students qualify for some type of financial aid, including federal student loans. Financial need is the primary basis for federal financial aid eligibility, but most students have some level of need and qualify for aid. To calculate financial need, schools will subtract your expected family contribution (EFC) from their cost of attendance. They will use your financial need and other factors to put together a financial aid award that can help you pay for your college education.

5. The FAFSA is too complicated to complete. Fact or Fiction?

Fiction: If you're prepared, completing the FAFSA shouldn't take more than 45 minutes or so. The FAFSA on the Web guides you through completing the application and offers an instant check on answers, which saves time. Key parts of the process are now automated, including submitting your data to schools you choose. Once you submit your application, you should receive a status check on your FAFSA within days. Also, if you need help along the way, there are plenty of resources available.

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