The FAFSA is the application for state, federal, and college-specific financial aid even if you don't think you'll qualify for need-based financial aid, you should complete the FAFSA to qualify for low-interest student and parent loans.
Before sitting down to complete the FAFSA, students and their parents should gather the following information:
Ask your college for their FAFSA priority filing date because some types of financial aid are awarded on a first-come, first-served, it's important that you submit the FAFSA before that date.
Request a Personal Identification Number (PIN) for you and one parent at www.pin.ed.gov.
This is your signature for the online FAFSA.
Income tax returns, , and 1040, 1040 A or 1040 EZ forms from the previous year (2007) and K-1 (Form 1065)
W-2 forms
Student's driver's license number
Social Security numbers of students and parents
Birth dates
Date parents were married, separated, divorced or widowed
Current cash, savings and checking account balances
Current investment values (stocks, bond, mutual funds, CD's etc.) excluding retirement accounts
Value of business (if more than 100 employees)
Value of investment farm ( Do not include the value of a family farm that you or your parents live on and operate)
Child support (paid and/or received)
ADC/TANF welfare benefits
Social Security payments received from SSI or SSDI
Workers compensation
Other untaxed income in 2007 such as veteran's benefits, housing/food/living allowances for military and clergy
Alien Registration Number for eligible non-citizens
Records relating to any
unusual family financial circumstances, 
such as death, divorce, and loss of employment.