FAFSA opens its filing season for the 2022-23 school year on October 1st! The US Department of Education uses the FAFSA to determine a student’s eligibility for federal student aid. These can be grants, work-study, and also low cost student loans. However, many colleges use the FAFSA also to assess non-federal student aid, like institutional grants and sometimes also merit aid. Here are 5 things you need to know about the FAFSA.