For all of my college Frugalistas or “college parents” the video below shows you how to fill out the FAFSA forms. FAFSA stands for the Free Application for Federal Student Aid. The sooner you are able to fill out the forms, the better chances you have for getting funding for higher education. On Thursday (Feb. 11) from 9 to 10 p.m., est, Sallie Mae is holding a live chat so you can ask questions about filling out the forms.