6 The FAFSA asks parents and students for information on income and as- sets. It is, therefore, helpful to have your tax information available when completing the FAFSA. TheFAFSAcanbecompletedfreeonlineatwww.fafsa.ed.gov.Thissiteprovides step-by-step instructions and detailed information on how to complete the FAFSA. To request a paper FAFSA, call 1-800-433-3243. One to three weeks after a FAFSA is submitted, students receive aStudent Aid Report (SAR). This report will also be sent to the colleges listed on the FAFSA. TheSARtellshowmuchthestudent’sfamilywillbeexpectedtopayforcollege the following year. This amount is called the Expected Family Contribution (EFC). Colleges, lending institutions, federal, and state aid programs all use this EFC figure when determining financial aid eligibility. Jaimee and her parents prepared their tax information, completed a FAFSA online, and submitteditonNovember15.BecauseJaimee was applying to Xavier University and Miami University, she indicated on her FAFSA that a copy of her Student Aid Report (SAR) should also be sent to these two colleges. A few weeks later, Jaimee received her Student Aid Report. This report showed that her Expected Family Contribution (EFC) was 06125. Jaimee and her parents knew that this figure represented the amount they would be expected to pay for Jaimee’s college education the following year – $6,125. Complete a FAFSA When you complete a FAFSA online, you immediately get an estimated EFC telling you the amount your family will be expected to pay for college the next year. To complete a FAFSA, visit www.fafsa.ed.gov. A FAFSA can be submitted as early as October 1 of a student’s senior year. Because financial aid is often awarded on a “first come, first served” basis, the FAFSA should be submitted as early as possible.