If you miss the June 30 federal deadline, you're no longer eligible to submit that year's FAFSA form.
Some of the most common FAFSA errors are: Leaving blank fields: Too many blanks may cause miscalculations and an application rejection. Enter a '0' or 'not applicable' instead of leaving a blank. Using commas or decimal points in numeric fields: Always round to the nearest dollar.
The FAFSA deadline is at 11:59 pm Central Time (CT) on June 30 of the academic year or the end of the academic year (the last day of enrollment), whichever comes first.
The best time to fill out and submit your FAFSA application is the day it becomes available, October 1st of each year. Need-based financial aid is distributed first come, first served, so it literally pays not to procrastinate with the process.
We encourage you to fill out the form as soon as possible on or after the applicable FAFSA launches to meet FAFSA federal, state, and school deadlines.
Those who file early often qualify for more grants and scholarships. Students who file their FAFSA between October and December, on average, qualify for twice as many grants as students who wait to file their FAFSA.
Unfortunately, if you miss the deadline for financial aid, there's not much you can do. While it's worth checking with your college aid administrator or state agency about your situation, there's no guarantee there will be any financial aid left.
For most federal student loan types, after you graduate, leave school, or drop below half-time enrollment, you have a six-month grace period (sometimes nine months for Perkins Loans) before you must begin making payments. This grace period gives you time to get financially settled and to select your repayment plan.
Federal FAFSA Deadline
And finally, the deadline to keep in mind, the federal deadline which is June 30 of the end of the award year. For example, for the 2024 - 2025 FAFSA the 2024 - 2025 award year is July 1, 2024 through June 30, 2025. So the federal deadline for the 2024 - 2025 FAFSA is June 30, 2025.
There is no income that is too high to file a FAFSA. No matter how much you make, you can always submit a FAFSA. Eligibility for need-based financial aid increases as the cost of attendance increases, so even a wealthy student might qualify for financial aid at a higher-cost college.
Cars, computers, furniture, books, boats, appliances, clothing, and other personal property are not reported as assets on the FAFSA. Home maintenance expenses are also not reported as assets on the FAFSA, since the net worth of the family's principal place of residence is not reported as an asset.
Much of the problem lies in the FAFSA form itself. The FAFSA can be intimidating – it is a lengthy and complicated form, especially for young people new to tax terminology or families unfamiliar with how to pay for college.
The FAFSA® is due on June 30th most years, but you have longer to make corrections. Corrections and updates for the 2024-25 academic year must be submitted by September 14, 2025.
Grants and scholarships are free aid (otherwise known as “gift aid”), meaning they don't need to be paid back, making them the most sought-after options.
Once your FAFSA form is processed, your Institutional Student Information Record (ISIR) is sent to the colleges or career schools you listed on your FAFSA form. Those colleges and career schools are responsible for creating your aid offer and disbursing your financial aid.
Interest accrual, interest capitalization, fees, deferment, forbearance, and grace periods can all increase your student loan balance. Paying more than the minimum each month, making extra payments, and paying interest while in school can help reduce your loan costs.
If your card gives a grace period and you are not carrying a balance, then you can avoid paying interest on new purchases if you pay your balance in full by the due date. If you lose your grace period by not paying your balance in full by the due date, you will be charged interest on the unpaid portion of the balance.
Federal financial aid regulation states that if you withdraw from all of your classes or cease enrollment prior to the 60 percent point of instruction in any term, you will be required to repay all unearned financial aid funds received. A calculation will be performed to determine the repayment amount.
The hard deadline
First things first, the FAFSA has a hard deadline of June 30. Miss this date, and you're out of luck for financial aid for that academic year. The application is taken down from the Student Aid website after June 30, so you can't even submit it late.
Students have up to 45 days to challenge the return of federal aid due to a reported lack of attendance.
It's best to apply as close to the opening date, October 1, as possible. Federal Student Aid, the government provider of student financial assistance in the US, hands out grants, loans, and more on a “first-come, first-served” basis, meaning there's more money to work with at the very start of a new FAFSA cycle.
The U.S. Department of Education determines your Pell Grant eligibility based on your answers on the FAFSA. Don't forget to complete and submit the FAFSA as soon as possible, beginning in December. Some aid is awarded on a first-come, first-served basis.
Although there are some broad requirements you must meet to qualify for federal aid, there's no FAFSA income limit. The FAFSA's calculations are complex and consider many factors outside of your earnings, including your school's cost of attendance, your family size, and your year in school.
The easiest, fastest, and most accurate way to complete a FAFSA form is using the online application and providing consent and approval for the access, disclosure, and use of federal tax information (FTI). The online FAFSA form provides robust instructions and help in completing the form.