The Free Application For Student Aid (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. Federal Student Aid, a part of the U.S. Department of Education, is the largest provider of student financial aid in the nation. At the office of Federal Student Aid, more than 1,300 employees help make college education possible for every dedicated mind by providing more than $120 billion in federal grants, loans, and work-study funds each year to more than 13 million students paying for college or career school. Filling out the FAFSA on time ensures that you could possibly get some financial aid for college. Student aid comes in the form of grants, scholarships and loans based off of tax information from students parents from the 2016 tax return. The process for applying could be completed online by simply creating an FSAID for both the student and the parents and completing the FAFSA. Creating the FSAID is the simplest way to accurately file your FAFSA application. This year all seniors will be encouraged to complete their FAFSA in order for them to receive two extra graduation tickets.