Have you filled out your FAFSA form?

Well, FAFSA stands for Free Application for Federal Student Aid.

It is an important tool for every student, regardless of income.

At Sierra Vista High School seniors like Diego Cuevas are planning for life after graduation and how to pay for it.

(Diego Cuevas) The one thing that I'm hoping that definitely helps me is FAFSA financial aid.

I think I do qualify for some of the requirements in order to get financial aid help, so and also the help of scholarships that come across the road as well.

-FAFSA is a Free Application for Federal Student Aid.

And for many students, it is a form that can unlock thousands of dollars in federal or state grants, work-study programs, and scholarships.

(Avery Silvas) Sometimes you need that to even apply or get money from other scholarships.

So it's definitely a big thing for seniors.

-The process is entirely online.

Both the student and the parent will need their own ID.

Parents can verify income by linking their account to the IRS.

No paper files needed.

(Christina Fakoya) I would tell them that it's not as overwhelming as it might have been in the past years.

So go into it with an open mind, because it really only takes five minutes.

And once you do it, you'll be happy that you did it.

-School Counselor Sara Rolen says families shouldn't assume they won't qualify.

(Sara Rolen) Sometimes, too, right, like, Oh, we make too much money.

There's no way that we'll qualify for anything.

That's also not necessarily true.

And in fact, some colleges require students to have a FAFSA on file in order to get athletic scholarships or merit scholarships.

-She says it is a small time commitment that could open doors.

-I think that many students and parents, if they would take the time to fill out the FAFSA, they could see what they would qualify for and how this could truly benefit their family in the long run.

-So how much time does it take to complete the form?

Well, counselors say less than an hour if a parent and student do it together.

You can learn more at studentaid.gov or check with your school counselor.