Every year, many college-going students apply for FAFSA, the Free Application for Federal Student Aid, to help them pay for tuition. If you’re someone who qualifies and would like to receive this student aid, then your deadline each year is June 30th. You have until the end of this month to get yours in if you want to be accepted for financial aid.
Many students often complain about how long it takes to fill out the FAFSA application, but the application actually opens up on October 1st on the previous year. That means you could’ve had your application in for 2019 in October of 2018. You’d think students were prudent and did a great job on getting their application in early, but sadly, that’s not what happens.
Students often wait too long to submit their FAFSA. They hold onto it until the deadline or even later. They put it off until the last minute and it can mess with their eligibility. If you’re a high school senior this year (2019) and plan on going to college in 2020, you should apply for FAFSA this October during your high school senior year.
Benefits of the FAFSA
There are several available federal grants available to low-income students who could use the help paying for college. One is the Pell Grant. It can offer thousands of dollars in aid towards those who need it the most. Still, in order to qualify, the student must always remember the deadlines and fill in a timely manner. Not doing so can risk thousands in funding.
Beyond federal student aid, every state has their own grants and scholarships. Each state handles their programs differently and can have a different deadline than the federal one. That means you must juggle between both state and federal deadlines to apply for FAFSA benefits. Some states expect your FAFSA to be turned in by November, which means you only have a few months to get it in.
Still, even if you miss the deadline, there’s still hope for you. The goal should always be to stay proactive and on top of your deadlines. There’s no reason whatsoever to wait and potentially lose out.
“Unless you missed the June 30th deadline for FAFSA, opportunities for limited aid (Pell Grants and Federal Loans) should still be there as long as the student remains enrolled at least half-time and meet all other requirements,” Marty Somero, director of financial aid at the University of Northern Colorado, wrote in an email. “A student should certainly check with their school on any exceptions to missed deadlines, especially if there were true extenuating circumstances such as a death of a parent.”
Other Circumstances
There may be legitimate reasons why a FAFSA isn’t filled out in time and you miss the deadline. In those cases, you will be allowed to file past the deadline. The problem in a lot of cases is ensuring you’re ready to go at the start of classes. Most institutions won’t let you begin until your complete tuition is covered in some capacity, either with grants or student loans.
“It takes a little time for the college to take that FAFSA and turn that into money for the student on the first day of class. You don’t want to delay. If you didn’t file your FAFSA before the start of class or not too soon before the start of class, you don’t want that to impact your ability to register for classes or actually attend,” Shank says.
“Earlier is always better,” he says. “The best time to start thinking about it is when the FAFSA opens the prior fall. Many individuals are first-generation college students, so it gives them more time to understand the types of questions that will be on the FAFSA. It gives you time to get your FSA ID created, and then if you do run into any troubles, there are a number of places you can reach out to that can help you, and there’s still time before your state filing deadline.” The FSA ID is a username and password that must be created to fill out and sign the FAFSA online.
There are other benefits to filing early.
“Something that I’ve seen with the families I work with is just the peace of mind that comes with meeting the deadlines,” Blontz wrote in an email. “Do you need to complete financial aid forms the week of Oct. 1? No, that’s not necessary. Is it nice to have all of your requirements in before Thanksgiving, even if you are not considering early action or early decision? Absolutely.”
Be sure to check with your college’s financial office to see when your state deadlines are for turning in your FAFSA. The best course of action is to get it done quickly so you don’t have to worry about it later.
