CampusPin Glossary
FAFSA
The Free Application for Federal Student Aid, the U.S. government form every undergraduate must file to access federal grants, loans, and work-study.
The FAFSA is the gateway to federal financial aid: Pell Grants, Direct Loans (subsidized and unsubsidized), Federal Work-Study, and most state and institutional need-based aid. The form traditionally opened on October 1; the 2026-27 FAFSA opened on September 24, 2025 and the 2027-28 FAFSA on September 23, 2026. Filing as early as possible is important because many states and schools award aid first-come-first-served from limited pools.
The simplified FAFSA (introduced for the 2024–2025 cycle) replaced the EFC (Expected Family Contribution) with the SAI (Student Aid Index) and dramatically shortened the form. Even families who do not expect to qualify for need-based aid usually file FAFSA, because some merit aid and work-study eligibility require it.
Since December 2025, first-year applicants may also see a "lower earnings" notice on the FAFSA Submission Summary when a school they listed has graduates who earn less four years after completing than typical high school graduates in its state. The Department of Education says the notice is informational only and does not affect aid eligibility.
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See also
CSS Profile
A more detailed need-based aid form, separate from FAFSA, used by ~250 selective private colleges to award their own institutional aid.
Expected Family Contribution (EFC) / Student Aid Index (SAI)
A federal calculation of how much a family is expected to pay for one year of college. Replaced by the Student Aid Index in the 2024–2025 simplified FAFSA.
Pell Grant
The largest need-based federal grant for undergraduates. Awarded based on FAFSA results; does not need to be repaid.
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