It’s that time when most high school seniors are searching for the best and easiest way to get the money needed to go to college.

If attending college hinges on price, then filling out the FAFSA is the top priority. In order to receive financial aid from colleges, you must apply at FAFSA.gov.

The application takes time to complete, but the rewards are great. Here are 5 reasons why you should fill out the FAFSA.

Reason 1: Federal Aid If you want money from the government, you need to fill out the FAFSA. The federal government gave out $95 billion in federal student aid in 2007-2008 alone. Aid ranges from Pell Grants that don’t have to be paid back to Stafford Loans which can be paid back based on your income.

Reason 2: State Aid Some states offers forms of financial aid as well in the forms of educations grants and loans. However, you need to fill out the FAFSA to qualify for state aid.

Reason 3: School Aid In order to receive loans, scholarships, or grants from a school, you need to fill out the FAFSA. Many merit scholarships offered by colleges don’t need you to show need, but not filling out the FAFSA will leave you out of earning free money from your dream school.

Reason 4: It’s Easier than Ever Starting in January of 2010, the FAFSA will be 20 percent shorter. Independent students will no longer have to answers questions of their parents’ financial information nor will low-income students have to report parental assets like extra homes. These changes will now make filling out the FAFSA easier than ever.

Reason 5: It’s Free! Access to billions of dollars of aid is available for free with the FAFSA. Need more help navigating the form? FastWeb has articles and videos to make the process easier for you and you can always get help at FAFSA.gov. Start now by searching for and applying to schools knowing that money for school is within your reach!

The outcome of how much money you can get to pay for college and other expenses is totally up to you. You are the only one that can determine this.