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Key takeaways. The Free Application for Federal Student Aid (FAFSA) is a form you complete annually for financial aid. If your parents never married, enter "never married" for Step 4 on the form.
Parental income and assets are required with your FAFSA if you are a dependent student. Some schools may offer a dependency override that rules out any income from parents when you meet certain terms.
The FAFSA typically opens in October, but changes to the application delayed its opening date to Dec. 31. That means students and their families have a smaller window to apply before college ...
There are a number of free calculators on the Web to help applicants estimate the EFC before filing the FAFSA. Recipients of need-based financial aid must reapply for each year by completing a new FAFSA. The term and concept of Expected Family Contribution was replaced by the term Student Aid Index (SAI) in 2024. [2]
The FAFSA Deadline Act in 2024 made the October availability date part of the law. [8] The 2016–2017 academic year was the final time the FAFSA was not made available until January 1. [7] Two-year old US tax information is used to complete the financial sections of the FAFSA beginning with the 2017–2018 academic year.
The parents use these loans to pay for educational expenses on behalf of the student. For undergraduate students, there is the parent loan for undergraduate students or PLUS Loan. This loan allows parents to borrow up to the total cost of attendance, minus any other financial aid the student receives.
Filling out the Free Application for Federal Student Aid, known as the FAFSA, is one of the most important steps students and their families can take to pay for college. In fact, the U.S ...
The program is open to both undergraduate and graduate students. Students should check with the current requirements for FAFSA. Students can start to investigate the FAFSA as early as junior year of high school. [3] The Free Application for Federal Student Aid is open to all students who have need.