The Free Application for Federal Student Aid (FAFSA) is a form that current and prospective college students in the United States complete to determine their eligibility for financial aid. Managed by the U.S. Department of Education, FAFSA provides access to federal grants, work-study funds, and loans. Many states and colleges also use FAFSA information to award their own financial aid. Completing the FAFSA is essential for students seeking financial support to help cover the costs of college tuition, fees, room, board, and other educational expenses.