The Free Application for Federal Student Aid (FAFSA) is an application that allows students to receive federal grants and loans to pay for college.

Grants: Financial aid that generally doesn’t have to be repaid.

Work-Study: A federal work program through which undergraduates and graduate students at participating schools earn money to help pay for school.

Loans: Borrowed money for college or career school; your loans must be repaid with interest.

In addition, many states and colleges use your FAFSA information to determine your eligibility for state and school aid. Some private aid providers may use your FAFSA information to determine whether you qualify for their aid.