Once you have submitted the FAFSA, several entities use the information you provided:
- The U.S. Department of Education processes your FAFSA and calculates your Student Aid Index (SAI), which is used to estimate your eligibility for need-based federal financial aid.
- The colleges and universities you listed on your FAFSA receive your processed FAFSA data. Their financial aid offices use this information to prepare and offer you a financial aid package that may include grants, scholarships, work-study, and loans.
- Your state's higher education agency and other state agencies may also receive your FAFSA information to determine your eligibility for state-funded financial aid.
- Some colleges or states may require additional supplemental financial aid forms or documentation after receiving your FAFSA.
Additionally, you will receive a FAFSA Submission Summary or Student Aid Report that summarizes your information and eligibility, which you should review for accuracy and any required follow-up steps. You must accept or decline the financial aid offered by each school you applied to after reviewing their offers. Also, you need to submit a FAFSA every year to maintain eligibility for federal aid.
