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FAFSA is for current and prospective college students who are looking at the high cost of college and what their family is expected contribution. Every year students need to reapply for the FAFSA. The FAFSA is need-based, grant-based and offers many entitlements. It lets you calculate how much you should be able to pay for college. This does not affect merit based scholarships. Not being prepared is the biggest mistake. If your child is nearing the end of high school and considering college or trade school, they need to start thinking about these things. Start gathering your questions and doing research.