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PLUS Â· Consolidation Loans. Private student loans. The Free Application for Federal Student Aid (known as the FAFSA) is a form that can be prepared annually by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.
FAFSA is the US Department of Education's master loan application form. Whether or not you apply for or receive federal student financial aid, FAFSA is the form used by traditional and online institutions to determine eligibility for available federal, state and private student financial aid programs.