Imagine passing up free money for college. Money with no strings attached. That would be crazy, right? Yet every year, hundreds of thousands of students who are eligible for federal student aid never receive it—because they don’t even apply for it.
During the 2024 FAFSA cycle, only 46% of high school seniors completed the form by the end of June—an 11.6% drop from the prior year—with the steepest declines in low-income and high-minority schools (Chalkbeat, Teen Vogue). That meant millions of students missed out on aid, and many likely would have qualified for Pell Grants. The good news? For the class of 2025, FAFSA completions rebounded sharply: by late June 2025, nearly 54% of seniors had filed—a 17.5% year-over-year increase—with improvements across every state (Inside Higher Ed, BestColleges). For many students, this money can be the difference between stopping at a high school diploma and pursuing higher education.
Sure, filing the FAFSA can seem like an intimidating process. Some families decide it’s not worth the hassle; others think their income is too high to qualify. Don’t make their mistake.
What is the FAFSA all about?
In the 2023–24 academic year, students received $44.3 billion in federal grant aid, including $31.4 billion through Pell Grants. Additionally, $99 billion was borrowed through federal and nonfederal student loans to help cover postsecondary education costs—and a portion of that money could be yours.
Though the FAFSA Simplification Act caused delays and confusion in 2024, the redesigned form is now shorter, clearer, and easier to complete. And remember: the FAFSA considers more than just income. Even if you think your family earns “too much,” you should always apply. The form is free, and you truly have nothing to lose.
If the FAFSA feels daunting (as it does for many students and families), don’t be afraid to ask for help. “Don’t go it alone,” advises Ajamu Clarke, Program Manager for DC Public Schools at the DC College Access Program, which supports low-income students applying to college. Look for a local college access program, ask your high school counselor, or reach out to the admissions or financial aid office at a college you’re applying to—even community colleges will often help, whether you plan to attend or not.
If you don't qualify for grants
Even if you aren’t eligible for a federal grant, you may still receive work-study or federal student loans. These loans often carry lower interest rates and more flexible repayment terms than private loans.
For a rough idea of what you might qualify for, try the Federal Student Aid Estimator on the FAFSA website. It uses a few quick data points (like income and family size) to give you an early sense of eligibility. Just remember: it’s only an estimate. Your official FAFSA results will reflect more detailed information.
Important changes to FAFSA filing dates
The 2026–27 FAFSA will return to its traditional schedule, opening October 1, 2025. The deadline is June 30, 2026, with corrections due by September 12, 2026.
Many states and colleges distribute aid on a first-come, first-served basis, so early filing maximizes your chances of receiving the best possible financial aid package.
Related: How to Get Financial Aid for College: The Ultimate Guide
How long does the FAFSA take?
Most families can finish in less than an hour—and many in half that time. Thanks to the simplified form, you’ll face fewer questions (a maximum of 46, often fewer), and most financial information now imports directly from the IRS.
That said, you’ll still need to gather some records (like savings balances and untaxed income), which can take a little time. To save yourself stress, collect all your documents before you start.
What do you need to file the FAFSA?
Here’s what you’ll need for both the student and, if you’re dependent, your parent(s)/guardian(s):
- Social Security Number (or Alien Registration Number if not a U.S. citizen)
- Date of birth and legal name (exactly as on official documents)
- Email address and phone number
- Federal tax returns (2024 taxes filed in 2025)
- W-2 forms and other income records
- Bank and investment statements (if applicable)
- Records of untaxed income
- Parents’ SSNs and birthdates (if dependent)
- Household size and number of family members in college
- FSA IDs for both student and parent(s)
New for 2026–27: Parents and spouses can now be invited directly by email to complete their section, making the process easier to coordinate.
New tax information process
Instead of manually entering tax data, the FAFSA now uses the IRS Direct Data Exchange (DDX). With your consent, the form automatically pulls income and tax details from IRS records.
This step is mandatory—if you (or your parents/spouse) do not provide consent, you won’t receive a Student Aid Index (SAI), and you’ll be ineligible for federal aid.
Ready to begin the FAFSA?
Go to the official site: studentaid.gov. The “F” stands for Free—never pay a third-party website to file.
While you can mail in a paper form, online applications process much faster (1–3 days versus 7–10). Filing online also ensures you’re in the running for limited first-come, first-served state and institutional aid.
Your first steps
Start by creating a Federal Student Aid (FSA) ID. This is your login for the FAFSA and for managing aid throughout college. Parents or spouses who contribute to your FAFSA must have their own FSA IDs.
Be careful not to mix up parent and student accounts—errors here can delay your application. Store your FSA ID securely, since retrieving a lost ID can be time-consuming.
Ensuring accuracy
Double-check every section before submitting. Mistakes can delay processing—or cost you aid. And never underreport income or assets. The federal government cross-checks records, and misreporting can result in repaying aid, hefty fines, or even legal consequences.
Related: Five FAFSA Tips to Get the Most Financial Aid
FAFSA sections
The FAFSA site walks you through step by step, with help boxes along the way. Here’s what to expect:
- Student identity and personal info – Basic demographics, education plans, and family background. The work-study interest question and Selective Service registration are no longer included.
- Student financial information – You’ll provide consent for the IRS DDX. If you don’t, no SAI will be calculated, and you’ll be ineligible for aid. Assets such as savings and investments must still be reported. You can list up to 20 colleges to receive your FAFSA results.
- Student spouse information – If married, your spouse must also provide consent for IRS data transfer.
- Parent information – Most high school students are considered dependent, so parent info is required. Parents provide consent for IRS data transfer and list income, benefits, and assets.
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- New for 2026–27: Family-owned small businesses (≤100 full-time or full-time-equivalent employees), family farms (if the family lives there), and family-owned fisheries are excluded from reported assets.
- Note: The FAFSA formula no longer accounts for the number of family members in college, which may reduce aid for some families.
- Other parent information – When parents are divorced or separated, the Contributing Parent (the parent who provides more than 50% of the financial support to the student in the 12 months leading up to the FAFSA completion date) provides their information plus (if they remarried) their spouse's information.
- Preparer information – Only relevant if someone else is filling out the form on your behalf.
Related: Important FAFSA Updates for Students With Divorced or Separated Parents
Sign and submit
Once complete, you and your parent(s)/spouse sign with your FSA IDs and hit submit. If parents have multiple children in college, their information can be transferred to another application to save time.
Receiving your FAFSA Submission Summary
After submitting, you’ll get a confirmation page. Within a few days, you’ll receive instructions to access your FAFSA Submission Summary (formerly the SAR).
The Summary shows your Student Aid Index (SAI)—the figure colleges use to calculate need-based aid. Review carefully for errors; you can still make corrections or add schools afterward.
Your chosen colleges immediately receive your FAFSA info electronically. They’ll combine federal, state, and institutional policies to prepare your financial aid offers, typically sent alongside or shortly after admission decisions.
Related: Understanding (and Maximizing) Your College Financial Aid Package
Once you’ve received your offers, compare carefully—look at grants and scholarships first, then loans and work-study. If you have questions, contact the FAFSA Help Center with questions about the FAFSA. For specific questions about financial aid offered at a college or university, contact the institution's financial aid office.
That’s it! You’ve navigated the FAFSA. Filing may take a little effort, but the payoff can be thousands of dollars in free or low-cost aid for college.
Want to learn even more about scholarships, grants, loans, and other ways to pay for college? Check out all the helpful articles in our Financial Aid section, including Our Best Advice to Help You Pay for a College Education.
