FAFSA Deadlines Are Rapidly Approaching

Financial aid is incredibly important. For many college students, financial aid is the only way they can afford to attend college. As such, it is imperative that you remember to complete your application and meet all FAFSA deadlines. Not meeting the deadlines can make all the difference in your future.

What is FAFSA

FAFSA is the Free Application for Federal Student Aid (FAFSA) that must be filled out each year for the upcoming academic year. For federal student aid to be applicable for the 2022-2023 school year, the filing period for FAFSA applications begins on October 1, 2021. The last date to apply for federal aid for the 2022-2023 school year is June 30, 2023, depending on your state and while funds last . It is important that you thoroughly investigate your state’s deadlines as they vary by state. For example, in states like California, the deadline is rapidly approaching, with applications for federal student aid and CalGrants (state financial aid) due March 2, 2022. Federal FAFSA deadlines are available by state at the following link . 

It is important that you also check with your college or career school to make sure that you are on top of all deadlines and don’t miss out. You should attempt to submit your application as close to the October 1st opening date as possible because the longer you wait, the greater the chance that you will miss out on financial aid, as funds are finite. 

In fact, there are actually three FAFSA deadlines:

• The college deadline
• The state deadline
• The federal deadline

The College Deadline

The first deadline is the college deadline. While it varies from school to school, it is often early and it is critical to have the paperwork out of the way sooner rather than later, particularly if you are applying to multiple schools. You must check with each school to find out everything you need to know about each college’s deadlines. 

Remember that you will need your or your parents’ (if you are a dependent) 2020 tax information for your FAFSA application. 

The State Deadline

Second, the state deadline, which is determined by your home state. These vary widely, so make sure you use the above link to familiarize yourself with those dates. It bears repeating, FAFSA has limited funds , so it is imperative that you apply as soon as possible so you do not miss out on money.

The Federal Deadline And A Critical Detail to Remember

And, finally, the federal deadline, which is a date set by the U.S. Department of Education (who are primarily responsible for the FAFSA). Their hard deadline is funds become unavailable after June 30th of each particular academic year. To clarify, that means the 2022–2023 FAFSA form will disappear from StudentAid.gov on June 30, 2023. 

Additionally, if you were to wait to file your FAFSA after the spring semester of the academic year you are requesting aid for has ended, you will not be eligible for aid for fall or spring, only upcoming summer classes. For example, if you are seeking aid for the 2022-2023 school year and file your FAFSA on June 1, 2023, but the spring semester ended May 21, 2022, you will not be eligible for federal financial aid for the 2022-2023 academic year. However, you may still be eligible for federal student loans for the summer semester. 

If there is ever a time not to miss a deadline, it is for FAFSA. This is a crucial deadline that can make all the difference in your academic career. Regardless of any factors, fill this form out as soon as possible. FAFSA is distributed on a “first come, first served” basis. We repeat: the longer you wait, the less likely it is that you will receive federal financial aid. So while it is technically possible to wait until even the end of the academic year to apply for aid, we highly encourage you to file your FAFSA as soon as possible after the October 1 opening date so as to meet all three deadlines and access funds before they have run out. 

Conclusion

FAFSA is often misunderstood and high school teachers or counselors may not have the time or information to sufficiently address it with their students. It is important that you do the legwork and educate yourself about what you need to satisfy the requirements and deadlines. It is up to you to make sure that you are able to have the future you deserve.  

Let Shamrck help you find more resources and information to ensure you are on top of everything. At this juncture, being well-informed can make all the difference in your future.