It is that time of year again when the spring’s high school seniors are making the transition to this fall’s incoming college freshmen. Many will leave home for the first time and face many new and wonderful challenges. But before any of this can happen, every one of those incoming freshmen’s families should fill out the Free Application for Federal Student Aid, or FAFSA. The FAFSA must be filled out by each family to see if the family qualifies for federal financial aid, and must be filled out each year the child plans to attend college. So, if your spring senior is now a fall freshman then you have probably already filled out a FAFSA for the 2022-2023 school year, since open date was October 1, 2021.
Even if you haven’t completed your FAFSA yet, it may not be too late. Review the chart below, and click on the link for deadlines in your state.
|School Year||FAFSA Open Date||State Deadline||School Deadline||Use Tax Data From|
|2022-2023||October 1, 2021||See https://studentaid.gov/apply-for-aid/fafsa/fafsa-deadlines||See Your School of Choice||2020|
|2023-2024||October 1, 2022||See https://studentaid.gov/apply-for-aid/fafsa/fafsa-deadlines||See Your School of Choice||2021|
|2024-2025||October 1, 2023||See https://studentaid.gov/apply-for-aid/fafsa/fafsa-deadlines||See Your School of Choice||2022|
This is an important annual task for every parent with children in college, so I encourage you to add it to your calendar as a reminder for each year.
Even if you saved for college in a 529 plan or another option, filing the FAFSA is still a good idea. You won’t know what financial aid is available to you without filing. For more information on the FAFSA process, visit https://studentaid.gov/h/understand-aid. If you would like more information on developing a savings strategy to help pay for college, please feel free to contact our office. We are happy to help!
Disclaimer: Board of Retirement is not a Financial Aid expert nor do we give financial aid advice. This post is intended for informational and educational purposes only. If you have financial aid questions, please seek out professional experts in the field.