What is FAFSA®?
The Free Application for Federal Student Aid (FAFSA®) is a form that can be prepared annually by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.
Source: Wikipedia
Type of Federal Student Aid
Graduate or professional students may be eligible to receive aid from the following federal student aid programs:
Federal Pell Grant - A Pell Grant, unlike a loan, does not have to be repaid. You may be eligible to receive one if you are enrolled in a post baccalaureate teacher certification program. Amounts can change yearly.
Federal Work-Study (FWS) Program - The FWS Program provides part-time jobs for undergraduate and graduate students with financial need. This program allows you to earn money to help pay education expenses and encourages community service work and work related to your course of study.
The William D. Ford Federal Direct Loan (Direct Loan) Program - This is the largest federal student loan program. Under this program, the college is your lender rather than a bank or other financial institution. There are two types of Direct Loans that graduate or professional students enrolled in a program leading to a degree or certificate may receive:
Direct Unsubsidized Loans—Eligible students may borrow up to $20,500 per school year. Graduate or professional students enrolled in certain health profession programs may receive additional Direct Unsubsidized Loan amounts each academic year. Contact your school’s financial aid office for details.
Direct PLUS Loans—Eligible graduate or professional students who need to borrow more than the maximum unsubsidized loan amounts to meet their education costs may apply for a PLUS loan. A credit check will be completed during the application process.
Teacher Education Assistance for College and Higher Education (TEACH) Grant - The TEACH Grant Program provides grants of up to $4,000 a year to students who are completing or plan to complete coursework needed to begin a career in teaching. This program is different from other federal student grants in that it requires you to take certain kinds of classes to get the grant, and then to do a certain kind of job to keep the grant from being converted to a loan.
Other types of Financial Aid are:
Aid from other Federal Agencies - To find funding from other agencies visit StudentAid.gov/types
State Aid - Find state grant agency contact information at US Department of Education.
School Aid - To find out the types of aid your school offers, contact your school’s financial aid office.
Scholarships - We have compiled a list of some of the available scholarships, both nationally and from the community.
Source: studentaid.ed.gov https://studentaid.ed.gov/sa/types
How can I tell if I’m eligible?
To qualify for federal student aid (grants, loans, and work-study funds), you must meet certain eligibility requirements. Some of FAFSA’s general eligibility requirements are that you must validate financial need (for most programs); be a U.S. citizen or eligible noncitizen; have a social security number and be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program. Learn more about the basic eligibility requirements for federal student aid at StudentAid.gov/eligibility. Most colleges and many private scholarship sponsors require students to submit their FAFSA to be considered for financial aid.
Source: studentaid.ed.gov
Filling for FAFSA on time
You must complete and submit the Free Application for Federal Student Aid (FAFSA®) to apply for federal student aid—that’s government money for college or career school. Financial aid offices use information from the FAFSA® to determine whether you are eligible to receive federal grants, loans, or work-study funds. States and schools also use the information from the FAFSA® to determine whether you qualify for additional aid. Be sure to fill out a FAFSA® even if you think you won’t qualify for federal aid.
Missing a state deadline does not impact your eligibility for federal student aid, so fill out your FAFSA® form even if your state deadline has passed.
What will you need
Prior-prior year tax forms (ex. 2019-2020 FAFSA requires 2017 taxes)
Checking and savings totals
Amount of untaxed income
Net worth
Demographic information:
SSNs (Student and Parents)/Alien Registration Number
Dates of Births
Full Legal Names
Dates of marriage/separation
Address and phone numbers
DEADLINES
In the past, the FAFSA® form became available in October of the previous year. The form has been overhauled and updated for 2024-25. This year the FAFSA® didn’t become available until December 1, 2023 for the next school year. If you want to be considered for aid from your state or college, you must meet its FAFSA® deadline.
State deadlines: If you plan to go to college in the fall, your state financial aid deadline is probably going to be between March and May, though some states request that you submit your FAFSA® as soon as possible after Dec. 1. So in that case, if you planned to start college in the fall, you’d fill out your FAFSA® nearly a year ahead of time. The FAFSA® site at fafsa.gov lists many state deadlines and tells you how to find yours if it’s not listed.
College deadlines
College financial aid deadlines may be as early as February. For a college’s deadline, check the school’s website or contact its financial aid office.
FAFSA open and deadline dates:
2023–24 Academic Year
The open date for the 2023-24 Academic Year is Oct. 1, 2022.
FAFSA® forms must be submitted by 11:59 p.m. CT on June 30, 2024. Any corrections or updates must be submitted by 11:59 p.m. CT on Sept. 11, 2024.
2024–25 Academic Year
The open date for the 2024-25 Academic Year is Dec. 1, 2023.
FAFSA® forms must be submitted by 11:59 p.m. Central time (CT) on June 30, 2025. Any corrections or updates must be submitted by 11:59 p.m. CT on Sept. 10, 2025. Click here to start a new FAFSA® form for the 2024-25 Academic Year.
Please check with your financial aid administrator for the current Arizona state deadline.
Source: studentaid.ed.gov