The Free Application for Federal Student Aid is a required form for all U.S. citizens and permanent residents. The FAFSA is a form that must be filled out annually by current and anticipating students to determine their eligibility for federal and institutional student financial aid (including scholarships, loans, and subsidies).
The FAFSA consists of numerous questions regarding the student's finances; these are entered into a formula that determines the Expected Family Contribution (EFC). A number of factors are used in determining the EFC including the family size, income, number in college, assets (not including retirement and 401K). The FAFSA does not have questions related to student or family race, ethnicity or religion.
A Student Aid Report (SAR), which is a summary of the FAFSA responses, is forwarded to the student. The student should review the SAR carefully for necessary corrections. An electronic version of the SAR (called an ISIR) is sent to the schools the student selected on the FAFSA. The code for Calvin Theological Seminary is G02242.