The UCSB financial aid office is once again offering its online tutorial to assist current and prospective students in completing the Free Application for Federal Student Aid.

The FAFSA is used by nearly all colleges and universities to determine a student’s eligibility for federal, state and college-sponsored financial aid, including grants, educational loans and work-study programs.

Produced by the financial aid office at UCSB, “7 Easy Steps to the FAFSA: A Student’s Guide to the Free Application for Federal Student Aid” is designed to help prospective students complete the 2010-11 form in easy-to-understand steps. Click here to access it online.

The deadline for submitting a 2010-11 FAFSA for UCSB financial aid is March 2.

“More than 300 higher education institutions used our tutorial last year, and I expect that number to grow this year,” said Mike Miller, acting director of the UCSB financial aid office. “The Obama administration is placing an emphasis on simplifying the financial aid application process, but it’s still a complicated one. The tutorial gives students — and parents — step-by-step instructions.”

To determine the kind and amount of financial aid for which a student is eligible, the U.S. Department of Education conducts a “need analysis” using the financial information included on the FAFSA. The analysis considers factors such as income, assets and other household information. The completed form is then submitted to a federal processor and results are electronically transmitted to the financial aid offices of the schools listed on the application.

The form is also required for participation in UC’s Blue and Gold Opportunity Plan, which covers systemwide fees for California residents whose families earn less than $70,000 and who qualify for financial aid.

Even students who don’t qualify for need-based financial aid must complete a FAFSA to be considered for most federal student loans. Nearly every student is eligible for some form of financial aid regardless of income or circumstances.