The FAFSA Will Be Delayed This Year.

If you want to fast-track your student loan application for next year, you’ll have to wait: the Free Application for Federal Student Aid (FAFSA) won’t open until December . As of 2016, the FAFSA for the upcoming school year opens on October 1, however the process is currently being revised by the Department of Education under the FAFSA Simplification Act , which, among other things, requires a simplified form for the 2024–2025 award year.

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

This means that the window to apply for federal assistance has narrowed, giving you less time to gather relevant information before priority deadlines, which may be only a few weeks or months away. Since the exact launch date for the 2024-2025 FAFSA has not yet been announced, you should start preparing now to be ready to go when it opens.

Three FAFSA deadlines

There are actually three deadlines for the FAFSA : college, state, and federal. In general, application deadlines for individual institutions are the earliest and vary by school, so if you are applying to multiple colleges, you will need to look at the due date for each one.

Next comes the deadline set in your home state. These dates are listed on StudentAid.gov , although they have not been updated for the next school year. Please note that instead of specific dates, some states recommend that you apply as soon as possible after your application opens to maximize your reward as funds are limited and only available until they run out.

Finally, there is the federal deadline, which typically falls on June 30 of the relief year and has not yet been moved to 2024.

Again, many funds are available on a first-come, first-served basis, so it pays to apply (or renew) as early as possible. Otherwise, you risk receiving less or missing out on help altogether.

Collect all documentation

First, it is very important to have a Federal Student Aid (FSA) ID , or create one if you are applying for the first time. This is now required for applicants, parents, and guardians to access your FAFSA.

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

Finally, award amounts may change due to updated eligibility calculations. You can use the revised Federal Student Aid Estimator to find out how much you might receive.