Robert 'Bob' Powell breaks down everything you need to know about the FAFSA as part of Decoding Retirement's special segment, Ask Bob.

Girls With Impact founder and CEO Jennifer Openshaw joined Robert 'Bob' Powell on Decoding Retirement to discuss the student debt crisis, the college admissions process, women in business, career advice for the next generation, and much more.

Question:

A reader asked about the FAFSA. What is it, and when do I need to fill it out?

Answer:

The Free Application for Federal Student Aid (FAFSA?) form is an application for federal student aid. You need to complete the FAFSA form to apply for federal student aid such as federal grants, work-study funds, and loans. The FAFSA application season typically starts on October 1, and the FAFSA deadline is typically June 30, or the end of the academic year, whichever comes first.

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Retirement planning doesn’t mean locking up your money for a rainy day and forgetting about it. Planning your future means reacting to events today. Decoding Retirement gives you the tools to navigate the years ahead, and take action now!

Yahoo Finance's Decoding Retirement is hosted by Robert Powell, and produced by Zach Faulds and Alexander Frangeskides.

Find more episodes of Decoding Retirement at https://www.perfectloveletters.com/videos/series/decoding-retirement.

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Editor's note: This post was written by Zach Faulds.