Starting December 1, seniors in high school can apply for the Free Application for Federal Student Aid (FAFSA). This is the first step for students who plan on going to college seeking financial support. FAFSA provides students money through methods such as federal student aid, federal grants, work-study funds, and loans.
Last year, the FAFSA has had some issues. Before 2023, it was always released on October 1, but over the past two years, it has been delayed to December. It is delayed again because the new form was released months behind schedule last year, sending colleges scrambling to get financial aid packages out in time. The released form included a mistake that would have cost students $1.8 billion in federal student aid.
This year, the U.S. Department of Education, which released the FAFSA, is working to fix the issues that occurred last year, which is why the new application has been delayed again to the end of the year.
When the FAFSA is released, students are encouraged to fill it out as soon as possible, and the most common way to do that is by applying online.
Applying online is often encouraged because online applications are more accessible to complete than paper applications due to the online form’s ability to skip questions that do not apply to some students.
In addition, online applications will be processed faster and more accurately because the FAFSA website is designed to catch common errors.
The FAFSA determines whether someone is eligible for federal student loans, Pell Grants, and work-study. It is also necessary when applying for state funding and for many private scholarships.
Along with these benefits, many colleges use the FAFSA when deciding their financial aid offers.
For more information visit studentaid.gov.