This is NPR's Life Kit. I'm Lauren McGockey.

There is a lot of money out there to help you pay for college. We're talking federal aid,

state aid, even scholarships to the university you want to go to. And all you have to do to

tap into that money is fill out a wonky, kind of long, complex government form. It's called

the FAFSA, the free application for federal student aid. That's F-A-F-S-A. Sounds like a party,

right? But remember, at the end of this could be a lot of money. And we know that every year,

lots of students miss out on that money. They just leave it on the table because they don't

fill out this form. And we're going to talk about everything you need to know to apply

for that money. And why you should do it sooner rather than later.

I'm here with higher education reporter Alyssa Nadwerny. Hey Alyssa.

Hey Lauren. So let's just jump in and start at square one. Alyssa, what is the FAFSA

for those students and parents who have not yet had the joy of filling out this application?

Well, the most important thing you need to know is that it's free. So the FAFSA is a

federal questionnaire that students fill out to find out if they're eligible for money

to help pay for college. And it determines how much money you'd get. Someone told me recently

that it's like this key. And once you get this key, it opens up the door to a whole bunch

of money for you to go to college. Okay. What kind of money are we talking here then?

Well, it's not just loans. A lot of people think that it is. You know, it does include

loans, of course, but it also includes grants and scholarships. That is money that you

don't have to pay back. In order to be eligible for a lot of scholarships and grants like

at the state level or at the college you're thinking of applying to, you have to have filled

out the FAFSA. So it really is that first step to tapping into a whole bunch of money.

...