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FAFSA
Explanation:
The acronym FAFSA stands for Free Application for Federal Student Aid. This application was developed by the office of Federal Student Aid, a subsidiary of the U.S. Department of Education, and serves as the primary gateway for students to receive most means of financial aid, whether it comes from the federal government in the form of a Pell Grant or Stafford Loan, a state program, or an institution such as a college, university, or private organization.
The FAFSA incorporates information about an applicant's financial circumstances in order to determine their level of need and, if the application is filled out online, will even retrieve an applicant's tax information directly from the Internal Revenue Service in order to simplify the process. The FAFSA does not take into account factors such as race, religion, or sexual orientation. The office of Federal Student Aid begins accepting FAFSAs January 1 of each year, and aid is dispersed on a first-come first-served basis.