Access application at  studentaid.gov.

FAFSA stands for Free Application for Federal Student Aid. This form is used to determine the amount of money a family is expected to contribute to the price of attending a postsecondary institution. The results of the FAFSA are used in determining student grants, work study, and loan amounts.

Completing the Free Application for Federal Student Aid (FAFSA ®) is the first step toward getting federal aid for college, career school, or graduate school. We provide more than $150 billion in grants, work-study funds, and loans each year, but you have to complete the FAFSA to see if you can get any of that money.

The application is important to determine what federal money will be available to students at two-year and four-year colleges and technical schools.

Completing the form as soon as possible is recommended by the U.S. Department of Education, because financial aid is limited. Students completing the form early will get the first shot at grants, scholarships and loans, according to information from the department.

Students applying for the Arkansas Academic Challenge Scholarship must complete both the online state aid application and the federal application, even though the scholarship program does not have a maximum income to eligibility, according form the Higher Education Department.