Types of Financial Aid
Financial Aid Process
FAFSA opens to seniors for the 2021-2022 academic year on October 1st, and remains open through June 20, 2022, but filling it out sooner rather than later so you don't miss out on qualifying for the aid you are eligible for. Getting financial aid directly from colleges have different deadlines, so contact the school to find out their exact deadline dates.
Free Application for Federal Student Aid
The federal government awards around $125 billion in student aid every year in the form of grants, loans and work study. All colleges and universities across the United States require that you file the FAFSA if you are applying for a financial aid package. The FAFSA application asks for information about your family’s financial status and considers several other factors in determining your eligibility to receive aid.
The FAFSA Simplification Act has presented a vast change to this year’s process for applying for federal student aid. Bottom line up front, the timeline has been condensed and it is imperative that you and your family complete this in a timely manner should you with to receive federal aid. In the past, this portal has opened on October 1st for the following fiscal year. This year, the changes pushed that date and the 2024-2025 FAFSA form did not go live until January 1st. This means that it is a much smaller window of time for you to complete the form and for college financial aid offices to turn around and give you the bottom-line cost for attending your school. Many school set their own deadlines for financial aid information to be submitted, so be sure to engage with the school(s) you are applying to about their deadlines. The federal government's deadline to complete the form and receive federal aid for the 2024-2025 academic year is June 30th, 2025.
What can you do now?
New FAFSA, what is the difference compared to years past?