The FAFSA Will Be Delayed This Year

If you’re looking to get a jump on your student loan application for next year, you’re going to have to wait: The Free Application for Federal Student Aid (FAFSA) won’t open until sometime in December. Since 2016, the FAFSA for the upcoming academic year has opened on Oct. 1—however, the process is currently being overhauled by the Department of Education in line with the FAFSA Simplification Act, which mandates, among other things, a streamlined form for the 2024–2025 award year.

(The law also impacts state-specific aid programs that use FAFSA data and participating schools.)

This means the window for completing your federal aid application has narrowed, giving you less time to gather relevant information before priority deadlines, which can be within just a few weeks or months. Because the exact date of the 2024–2025 FAFSA launch has yet to be announced, you should start preparing now so you’re ready to go when it opens.

The three FAFSA deadlines

The FAFSA actually has three deadlines: college, state, and federal. Typically, individual institutions’ deadlines are the earliest and vary by school, so if you’re applying to multiple colleges, you’ll need to look up the due date for each.

Next up is your home state’s deadline. These dates are listed on StudentAid.gov, though they have not been updated for the next academic year. Note that in lieu of specific dates, some states recommend applying ASAP after the application opens to maximize your award, as funds are limited and given out until they’re gone.

Finally, there’s the federal deadline, which has typically been June 30 of your aid year and so far hasn’t been pushed back for 2024.

Again, a lot of funds are available on a first-come-first-served basis, so it’s advantageous to apply (or renew) as early as possible. Otherwise, you risk receiving less or missing out on aid altogether.

Gather all your documentation

First, it’s critical to have your Federal Student Aid (FSA) ID or create one if you’re applying for the first time. This is now required for applicants, parents, and guardians who access your FAFSA.

You’ll also need your Social Security Number or alien registration number and financial documents like bank statements and family investment records. The updated FAFSA can pull income data directly from the IRS, but you’ll need tax returns if you don’t use this import feature.

Finally, award amounts might change due to updated eligibility calculations. You can use the revised federal student aid estimator to see how much you might receive.

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