The FAFSA (Free Application for Federal Student Aid) form opens October 1.
If you have not yet filed, it would be in you and your student’s best interests to have all your proverbial ducks in a row now, meaning, necessary paperwork, tax information, and ID numbers.
It’s important to keep in mind that your window of opportunity to get money will be getting smaller and smaller as the year progresses. Don’t miss the FAFSA deadline because there’s not much can be done once the date passes.
There are definite deadlines for filing FAFSA, dictated by the federal government, state agencies, as well as the colleges your student is applying to.
The federal FAFSA deadline is June 30th of the academic school year that you are filling out FAFSA for. State and college deadlines may be earlier.
If your student misses these FAFSA deadlines, they could be missing out on aid and access to government student loans.
Missing the federal FAFSA deadlines, means your student will have to wait till the following academic year to get access to aid and loans. If they miss state or college deadlines, the best advice is to file the forms immediately and reach out to these offices to see if your student can still get aid.
The opening date for FAFSA submission is October 1 of the year before the college term starts.
This article from CNBC outlines why, for certain families, waiting to file would be more beneficial, but common sense dictates that you should file as close to the opening date as possible because monies in certain states are dispensed on a first-come, first-served basis.
If that October “earliest date possible” has come and gone, you will then have to resign yourself to the fact that you may have missed the gate on certain funds.
There are 3 different deadlines for FAFSA: federal, state, and college deadline.
The federal deadline is June 30th of the academic year for which you are applying.
For example, the federal FAFSA deadline for the academic year 2023-24 will be June 30th 2024. Many colleges and states have their own deadlines as well, so check with your school and you can check state deadlines here.
FAFSA deadlines for colleges may be earlier than either the state and federal deadlines. Most schools will list their priority deadlines on their financial aid pages or you can contact the aid office directly.
If you have flat-out missed your state’s or college’s deadline, whatever money there was to give, has already been given out, so in that case, you have not even entered the race.
There are some states and schools that continue awarding aid to students after priority deadlines, but your chances get much slimmer, and you should expect that disbursement to be a lot smaller.
If you miss the end of June federal deadline, you’re no longer eligible to submit that year’s FAFSA form.
The official deadline for filling FAFSA is June 30th of the academic year for which you are applying, but don’t wait that long.
By now you most likely know that colleges and universities use FAFSA to determine your eligibility for federal, state, and college-sponsored financial aid, including grants, educational loans, and work-study programs, so it should be obvious that accuracy and preparation are key. And now, time is of the essence.
At first glance, the process might look intimidating and seem overwhelming, but once you gain an understanding of the form, you’ll realize it’s not as frightening as you think.
The FAFSA is available in several formats, including online, PDF, and paper versions.
If the reason you are putting off filing FAFSA is merely because the thought scares you, no worries! You can tackle the form with the aid of our step-by-step-walkthrough.
You will need an FSA ID in order to electronically sign the form, and you can obtain on the federal student aid website.
If you have technical questions about using FAFSA on the Web, call 1-800-4-FED-AID.
It is very difficult to approach the FAFSA form “cold.” That is, as we mentioned previously, prep work is crucial. In addition to the FSA ID, certain documents are required in order to successfully complete the process, and it can take some time to gather all of them together. Here’s what you will need:
Note: You will need a FSA ID to gain access to Federal Student Aid’s online systems. It can also serve as your legal signature. Keep in mind that everyone applying for FAFSA will need a separate FSA ID, and you may not create one for someone other than yourself.
Dependent students who are filling out the FAFSA form will need to have to provide information regarding their parents. According to studentaid.gov, “A legal parent is your biological or adoptive parent or your legal parent as determined by the state (for example, if the parent is listed on your birth certificate).” Information about a stepparent who is married to the student’s legal parent must also be provided.
Remember that the FAFSA form must be completed EVERY YEAR, so make sure it’s on your child’s and your own calendars so that you’ll be ready when that time rolls around again next year.
If you want to make sure your child doesn’t miss the FAFSA deadline in the future, it is important to be prepared. Keep your tax papers and other important documents in a file ready and waiting for when the new filing period opens in October 2023.
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This story was first shared in our Paying for College 101 Facebook community. It’s been edited for clarity and flow.
For many families, saving up enough money to cover the entire cost of their children’s higher education just isn’t possible.
If you made a mistake when submitting the FAFSA, contact your school’s financial aid office and let them know. They
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