FAFSA Facts
Now that we’re well into October, you’re likely hearing about the FAFSA. That stands for the Free Application for Federal Student Aid (FAFSA). Today, we’ll talk about what the FAFSA is, how it works, and why it matters.
What is the FAFSA?
The FAFSA is the form students and families complete to apply for financial aid for college. It determines eligibility for:
Federal grants (like the Pell Grant)
Federal student loans
Work-study programs
State and college-based aid (many schools and states use FAFSA data to award their own scholarships and grants)
Even if you don’t think you’ll qualify for need-based aid, completing the FAFSA is strongly recommended.
Key Dates
The FAFSA for the 2026-2027 school year opened October 1st.
Each college sets its own priority deadline for submitting the FAFSA.
State deadlines vary — be sure to check your home state’s timeline.
In general, it’s recommended to try to complete it by Thanksgiving.
What You’ll Need to Complete It
Filling out the FAFSA can feel daunting, but having documents ready makes it easier. You’ll typically need:
Social Security numbers (student and parent)
Tax returns and W-2s from two years prior (for this year’s FAFSA, you’ll need 2024 tax returns)
Bank statements and records of investments
A list of colleges the student is applying to
Even if you believe your family won’t qualify for need-based aid, submitting the FAFSA keeps all options open. Some colleges require it simply to consider students for certain scholarships. Completing it early and accurately ensures your student has access to the full range of financial aid opportunities available.
