Federal Student Aid is a division of the U.S. Department of Education that oversees federally funded or federally guaranteed financial assistance for education beyond high school. The program disburses more than $80 billion annually in financial aid to students through schools. The Free Application for Federal Student Aid, or FAFSA, is a time-consuming and somewhat complicated process, as there are multiple student loan programs to choose from and various loan repayment options. First, find out if you are eligible, then see which type of federal student aid is right for you. Be sure to check the application deadlines.

For tips on filling out a FAFSA and to find out more about the process, check out this article.