What You Can Do to Be Proactive Before FAFSA Opens

FAFSA is opening just around the corner. Here are some things you can do now so you are ready to go once it opens.

First, A Few Basics of FAFSA

What is the FAFSA? FAFSA stands for Free Application for Federal Student Aid. It is an application that college students must fill out to be eligible for federal student aid.
Why is Filing the FAFSA so Important? Filing the FAFSA grants you access to free and low-cost federal financial aid that’s disbursed to college students every year in the form of college grants, student loans, and work-study awards.
How long is the application open? The application window is open until June 30^th of the following year
Submit the FAFSA as Early as Possible. It’s advisable to submit the form as early as possible. The earlier you submit this application, the better your chances are of getting the maximum financial aid you’re eligible for.
File even if you don’t think you’ll qualify: Millions of dollars in federal aid go unclaimed every year because families don’t file the FAFSA. As a general rule, you should file the FAFSA regardless of family income or any other circumstances. Even if you do not qualify for one type of aid, filing the FAFSA may qualify you for grants, scholarships, and other state or institutional financial aid as well as federal student loans.

Now, here’s what you can do to prepare now so that you are ready when the FAFSA opens.

1. Know What Documentation You Need

Here is the information and documentation you’ll need to file the FAFSA form:

A student walking in Rawson Hall at Grinnell College campus.

Flickr user Ron Cogswell

Your Social Security number: For security purposes, the FAFSA masks student’s social security numbers on the log-in page.
Your Driver’s License Number: If you have a driver’s license you will need to fill in your license number. If you do not have a driver’s license, this does not apply to you.
Your Previous Year’s Tax Records: Your tax information can be imported directly from the IRS records. Make sure you have your logins memorized or accessible.
Your FSA ID: This is a username and password that is required for logging in to certain U.S. Department of Education websites. Your FSA ID is required for completing the FAFSA process. Creating your FSA ID early will ensure that you are ready to start filling out the FAFSA form on the day it opens.
Your Parents’ FSA ID: Your parents will also need to create an FSA ID if their information is required on the FAFSA form. This happens if you are a dependent student. StudentAid.gov has a detailed guide to help you determine whether you are dependent or independent when filling out the FAFSA form. Start doing your homework on this now so you can start the formalities at the earliest.
List of Colleges You’re Interested in Attending: You can add up to 20 colleges on the FAFSA (this is up from the limit of 10 in prior years). This includes any 20 colleges you’re considering, even those you have not applied to yet or those that have not accepted you yet.

The colleges you list on the FAFSA form will receive your information electronically. From there the schools start putting together your financial aid package if you are accepted.

It takes time to research colleges and make a shortlist so don’t wait to get this done. It’s advisable to start researching potential schools as early as possible.

2. Start Organizing Now!

Now that you know what documents and information you need, gather and organize now so you aren’t looking for it all on the fly.

It can also help to familiarize yourself with the FAFSA application. Free Application for Federal Student Aid (FAFSA) Form, July 1, 2024 – June 30, 2025. The FAFSA application is fairly long, although now it should be fewer than 50 questions depending the student’s circumstance as opposed to 100 questions a few years ago. So, reading ahead of time can make it more efficient when you are ready to apply.

Things to Keep in Mind for FAFSA:

Check Back Often to Confirm when FAFSA Opens. Make sure to check when the FAFSA opens every year as the opening date may change.
Remember, You Have to File FAFSA EVERY Year of College. Your FAFSA is valid for one academic year only. That means you must file a separate application every year to be eligible to receive aid for the next academic year. Aid eligibility is calculated on your family and financial circumstances as of the date of filing the form. The financial aid you receive every year could be different.
If you don’t file the FAFSA by the deadline, you’ll be ineligible to receive any form of federal, state, or institutional aid for that academic year. In this case, you can still apply for private student loans and some scholarships that may not require with FAFSA to help cover your funding gap.
Your School’s Financial Aid Application Deadline Matters Too. Every college has its own financial aid application deadline. This may be different from the FAFSA deadline. If your college financial aid application deadline is earlier than the FAFSA deadline, the earlier date is what matters. If you file the FAFSA after the college deadline, you won’t qualify for any financial aid disbursed by the college.
Most colleges allocate funds on a first come first served basis until the funds run out. If you wait too long to submit the FAFSA, you may be too late to receive any of these reserved funds.

For more information on financing your college education, read more from our blog and check out our FREE and accurate tools to help you along in your college planning:

College Match – find the right college at the best price!
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Rates (APR)	Eligibility
5.34%-15.96%* Variable 3.99%-15.61%* Fixed	Undergraduate and Graduate	VISIT CITIZENS
4.92% - 15.08% Variable 3.99% - 15.49% Fixed	Undergraduate and Graduate	VISIT SALLIE MAE
4.50% - 17.99% Variable 3.49% - 17.99% Fixed	Undergraduate and Graduate	VISIT CREDIBLE
6.00% - 13.75% Variable 3.99% - 13.75% Fixed	Undergraduate and Graduate	VISIT LENDKEY
5.50% - 14.56% Variable 3.69% - 14.41% Fixed	Undergraduate and Graduate	VISIT ASCENT
3.70% - 8.75% Fixed	Undergraduate and Graduate	VISIT ISL
4.99% - 16.85% Variable 3.47% - 16.49% Fixed	Undergraduate and Graduate	VISIT EARNEST
5.00% - 14.22% Variable 3.69% - 14.22% Fixed	Undergraduate and Graduate	VISIT ELFI

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