Completing and submitting the FAFSA is FREE, QUICK;

and it gives you access to the largest source of financial aid to pay for college or career school. In addition, many states and colleges use your FAFSA data to determine your eligibility for state and school aid, and some private financial aid providers may use your FAFSA information to determine whether you qualify for their aid.

When do I fill out the FAFSA?

The FAFSA has been available since Jan. 1.

The FAFSA launches each year on Jan. 1.

There are different FAFSA deadlines for different programs: You can find state deadlines at fafsa.gov

HOW TO FILL OUT THE FAFSA APPLICATION

RECENT FAQ'S

Where does my FAFSA information go once I submit it?

Your FAFSA information is shared with the colleges and/or career schools you list on the application. The financial aid office at a school uses your information to figure out how much federal student aid you may receive at that school. If the school has its own funds to use for financial aid, it might use your FAFSA information to determine your eligibility for that aid as well. (The school might also have other forms it wants you to fill out to get school aid, so check with the financial aid office to be sure.) 

Your information also goes to your state higher education agency, as well as to agencies of the states where your chosen schools are located. Many states have financial aid funds that they give out based on FAFSA information.

So, your FAFSA helps you apply for federal, state, and school financial aid. Not bad for a form that takes students an average of less than 25 minutes to complete!

How can I check to see whether my FAFSA has been processed?

You can check the status of your FAFSA immediately after submitting it online. You can check the status of a paper FAFSA after it has been processed (roughly 7–10 days from the date mailed). Here’s how:

• Option 1: Go to www.fafsa.gov and log in.
• Option 2: Contact the Federal Student Aid Information Center.

If your FAFSA is still being processed, we recommend that you wait a few days before checking the status again.

Who will I hear from, and when?

First, we (the office of Federal Student Aid at the U.S. Department of Education) will send you a Student Aid Report (SAR), which is a summary of the FAFSA data you submitted. You’ll get your SAR within three days to three weeks after you submit your FAFSA. Be sure to look over your SAR to make sure you didn’t make a mistake on your FAFSA. Find out more about the Student Aid Report, its purpose, how the type of FAFSA you file determines when you’ll get the SAR, and what you should do with it.

The SAR won’t tell you how much financial aid you’ll get. Instead, if you applied for admission to a college or career school and have been accepted, and you listed that school on your FAFSA, the school will calculate your aid and will send you an electronic or paper aid offer, sometimes called an award letter, telling you how much aid you’re eligible for at the school. The timing of the aid offer varies from school to school and could be as early as springtime (awarding for the fall) or as late as immediately before you start school. It depends on when you apply and how the school prefers to schedule awarding of aid.

What do I do if I’m told I’ve been selected for verification?

You might see a note on your Student Aid Report saying you’ve been selected for verification; or your school might contact you to inform you that you’ve been selected. Verification is the process your school uses to confirm that the data reported on your FAFSA is accurate. Your school has the authority to contact you for documentation that supports the information you reported.

If you’re selected for verification, don’t assume you’re being accused of doing anything wrong. Some people are selected at random; and some schools verify all students' FAFSAs. All you need to do is provide the documentation your school asks for—and be sure to do so by the school’s deadline, or you won’t be able to get financial aid.

If you used the Internal Revenue Service Data Retrieval Tool (IRS DRT) when filling out your FAFSA, and you have not changed any of the information retrieved, you will not have to verify that information. If you didn’t use the IRS DRT and you’re selected for verification, log back in at www.fafsa.gov to see whether you can use IRS DRT to fill in the relevant fields on your FAFSA. If not, your school may require you to submit a tax transcript as part of the verification process. You can find your tax transcript through the IRS’s Get Transcript service at www.irs.gov/transcript.

What if I made a mistake on my FAFSA? How do I correct it?

Once your application has been processed, you can correct your FAFSA online or on paper. (Making corrections online is the easiest and fastest option.) 

Can I update information on my FAFSA if my situation has changed since I filed it?

There is some information that must be updated if it changes, while most information cannot be updated. Find out the difference and how to update FAFSA information.

How do I decide what aid to accept, and how do I accept it?

You’ll need to understand the aid that’s being offered (for instance, is it free money such as a grant, or is it a loan that you’ll have to pay back?), decide what aid you really need, and then respond to the school’s award letter within the deadline set by the school. Get details about accepting aid. 

How do I get my money?

The financial aid staff at your college or career school will explain exactly how and when your aid will be paid out. They also will tell you whether you need to fill out any more paperwork or meet other requirements. For instance, if you’re receiving a federal student loan for the first time, you should expect to be required to sign a promissory note and go through entrance counseling. Be sure to keep in touch with your school’s financial aid office so that you understand the whole process of receiving your aid.

How long does it take to complete the online FAFSA application?

Filling out FAFSA can take anywhere from 21 minutes to 55 minutes, which is not too long for free money. And don't say that your family's too wealthy or your grades are too low. These are all myths about financial aid, according to the Department of Education. Don't leave money on the table.

Also, just because you filled out FAFSA in 2014 doesn't mean you're exempt this time around. A new application must be filed each year. If there's more than one college student in your family, you have to submit separate applications. You can do it online or via snail mail.

Deadlines Vary

The national deadline for filling out the FAFSA is June 30, but states and colleges have individual deadlines. In some cases, the deadline is for sending in FAFSA; in others, it means the application has to be processed by a certain date. You should check to make sure which definition your school/state goes by.

Below is a brief list of deadlines. If your state doesn't appear, contact your school's financial aid office. Assume all dates are for the current year, unless specified otherwise:

• Arkansas -- June 1
• California -- March 2
• Connecticut -- Feb. 15
• Delaware -- April 15
• Washington, D.C. -- April 1
• Florida -- May 15
• Idaho -- March 1
• Indiana -- March 10
• Iowa -- July 1
• Kansas -- April 1
• Louisiana -- June 30
• Maine -- May 1
• Maryland -- March 1
• Massachusetts -- May 1
• Michigan -- March 1
• Missouri -- April 1
• Montana -- March 1
• Nevada -- June 30
• New Jersey -- June 1
• New York -- June 30
• North Dakota -- April 15
• Oklahoma -- March 1
• Rhode Island -- March 1
• South Carolina -- June 30
• Tennessee -- March 1

The Three Types of Deadlines?

1.     Federal student loan deadline: There are two FAFSA deadlines: the priority deadline and the final deadline. If you meet the priority deadline, you have the greatest chance to receive subsidized loans and grants. (Subsidized means the government will pay the interest that accrues while you are enrolled in school.) If you miss the priority deadline, you can still meet the final deadline and qualify for student loans. But, if you miss that, you will need to contact your college’s financial aid office and see what they can do for you, having not received your FAFSA when they received everyone else’s. You may also apply for private student loans at this point.

2.     State deadline: Your state needs to receive your FAFSA and any other required forms by another date. You can use the FAFSA deadlines  tool to find out exactly when your state needs to hear from you.

3.     Your school’s deadline: Finally, your school likely provides its own financial aid. To do this, the school will also need to see your FAFSA. Contact your college’s financial aid office to learn when you need to submit your FAFSA in order to qualify for school-funded grants, scholarships and other tuition assistance.

What to Do if You Miss these Deadlines?

If you miss the FAFSA deadline, you can still Apply for Private College Loans, but your Federal loan options are limited. You should still complete it once you realize your mistake, and then contact the college’s financial aid office. They may allow you to explain the reasons behind the delay and you may still be eligible for scholarships, work study or other aid. But, there is a finite amount of money available, so it’s possible if you are late filing your FAFSA, there really won’t be anything left. In this case, you’ll have to look into paying the upcoming year’s tuition bills with private student loans and alternatives to student loans.

Alternatives to Federal Student Loans?

Even if you don’t receive federal loans, you may still be eligible to receive some Private Student Loans, grants or independent scholarships. Places to look for these opportunities include your state, county or city government; private foundations; national and local service organizations; trade organizations in the field that you intend to study; and banks and credit unions. Your school’s guidance counselor may be able to help you get started. Also, you may need to apply for part-time work while you’re in school to help defray some of the costs.