If you are a U.S. citizen or permanent resident—and a current or prospective grad student—you should apply annually for need-based aid by completing the Free Application for Federal Student Aid (FAFSA). Need-based aid may be used to supplement other assistance you receive. The criteria for receiving need-based aid for graduate students differs from the criteria used for undergraduate students. You should complete the FAFSA each year and as soon as you are considering going to graduate school. Admission is not required to complete the FAFSA, but no financial aid offer can be finalized until the student is admitted.