A student can’t apply for financial aid until January 2 of their senior year in high school. The Free Application for Student Aid (FAFSA) is completed online at www.fafsa.ed.gov or a paper one can be filled out and mailed. The student will then receive a Student Aid Report (SAR), which will state the student’s Expected Family Contribution (EFC). This information also is sent to the college/s that the student indicated on the FAFSA. The college then will send the student an award letter stating what the student qualifies for—grants, need based and talent based scholarships, federally subsidized loans, unsubsidized federal loans, parent loans, or private lender loans.