Every year, the Free Application for Federal Student Aid (FAFSA) opens so students can apply to receive federal student aid like work-study, grants, and federal loans.
It’s important that you stay on top of the FAFSA deadlines and submit your financial aid applications annually to maximize your chances of receiving federal student aid.
In this article, we’ll tell you everything you need to know about the FAFSA deadlines so you can make affording your college education easier.
When Does the FAFSA Open? What is the FAFSA Deadline?
There are two dates that you should remember as you file the FAFSA: June 30th and October 1st. Every year, the FAFSA opens on October 1st and is due on June 30th at 11:59 PM CT.
The FAFSA opens a year before the academic year you plan to file for. For example, the 2022-23 FAFSA has been open since October 1st, 2021 and is due on June 30th, 2023. The FAFSA for the 2021-22 academic year has been open since October 1st, 2020, and was due on June 30th, 2022.
However, there are different FAFSA deadlines for state and institutional aid. If you want to qualify for financial aid offered by your state like grants and scholarships, you must submit the FAFSA by your state’s application deadline. To receive financial aid from your school, you must submit your FAFSA by the deadline outlined by your institution.
What Tax Information Do I Submit On the FAFSA?
If you are a dependent student, you will submit your parent(s)’ financial information (family income, tax information, etc.) on the FAFSA.
Because the FAFSA for each school year opens one year before that school year, you report your tax information from the year before the current one.
Let’s clear that up a bit.
Let’s say that you are filing your FAFSA for the 2022-23 academic year. The application has been open since October 1st, 2021. You submit your income/tax information from 2020 because the 2021 tax has not been filed yet (the 2021 tax returns were due on April 18th, 2022).
The FAFSA opened for the 2021-22 academic year on October 1st, 2020. One year before 2020 is 2019, so you submit your 2019 tax information and income.
Academic Year
FAFSA Open Date
Federal FAFSA Deadline
Which Year’s Income/Taxes Needs to be reported
2025-26
October 1st, 2024
June 30th, 2026
2023
2024-25
October 1st, 2023
June 30th, 2025
2022
2023-24
October 1st, 2022
June 30th, 2024
2021
2022-23
October 1st, 2021
June 30th, 2023
2020
2021-22
October 1st, 2020
June 30th, 2022
2019
When Should You Actually File the FAFSA?
Even though the application window for the FAFSA is nearly two years, submitting your application as soon as possible is crucial.
Some financial aid is awarded based on a first-come, first-served basis, such as work-study aid, state aid, and institutional aid. So, you should file the FAFSA as close as possible to the October 1st opening date. This is crucial to receiving as much financial aid as you are eligible for.
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All FAFSA Deadlines
State and Institutional FAFSA Deadlines
While the FAFSA is used to award federal student aid, institutions and states also use the FAFSA to award financial aid of their own.
Institutional and state FAFSA deadlines are usually earlier than June 30th, the federal FAFSA deadline. You will need to check the FAFSA deadlines of your state and the institutions you plan to apply to.
For example, the priority FAFSA deadline for the state of Connecticut was February 15, 2022 for the 2021-2022 school year. For Idaho, the FAFSA deadline was March 1st, 2022 to receive priority consideration for the state’s Opportunity Scholarship.
If you are going to attend a university outside of your home state, you may not qualify for state financial aid, though this depends on the state. For example, in California, undergraduate students who are attending university out-of-state are not eligible to receive the Cal Grant.
Federal FAFSA Deadline
The federal FAFSA deadline for the 2022-23 school year is June 30th by 11:59 PM CT. Any changes or errors that need to be addressed in the FAFSA must be submitted by September 10th, 2022 by 11:59 PM CT.
FAFSA Deadline Q&A
When Does the FAFSA Open?
The FAFSA opens every year on October 1st for all states.
Is FAFSA First-Come, First-Served?
While not all federal financial aid is given on a first-come, first-served basis, there is some federal financial aid that is awarded on a first-come, first-served basis like work-study.
When Should I Submit the FAFSA?
You should submit your FAFSA as soon as possible after October 1st so that you have a better chance of receiving more financial aid.
Do I Fill Out The FAFSA Before I Get Accepted?
Yes, you can and should submit your FAFSA before applying or being accepted to college. Even though you won’t receive a financial aid package until you are admitted to a school, it is best to fill out your FAFSA as soon as possible so that you do not miss out on financial aid that is awarded on a first-come, first-served basis.
Should I Fill Out the FAFSA If My Parents Make a Lot of Money?
Yes, you should fill out the FAFSA even if your parents make a lot of money. You never know what you’ll qualify for, and most schools use the information you provide on the FAFSA to determine what scholarships and grants are awarded to who.
Even if you don’t meet the financial aid eligibility requirements to receive aid, you can still find out what federal loans you qualify for.
When Is the FAFSA Due for the Next School Year?
The FAFSA is due by 11:59 PM CT on June 30, 2023 for the 2022-23 school year. Any corrections and/or updates must be submitted by 11:59 PM CT on September 10th, 2023.
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Ascent
Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills, or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 11/1/2024 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require full
principal and interest payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.
Ascent’s undergraduate and graduate student loans are funded by Bank of Lake Mills, or DR Bank, each Member FDIC. Loan products may not be available in certain jurisdictions. Certain restrictions, limitations; and terms and conditions may apply. For Ascent Terms and Conditions please visit: www.AscentFunding.com/Ts&Cs. Rates are effective as of 11/1/2024 and reflect an automatic payment discount of either 0.25% (for credit-based loans) OR 1.00% (for undergraduate outcomes-based loans). Automatic Payment Discount is available if the borrower is enrolled in automatic payments from their personal checking account and the amount is successfully withdrawn from the authorized bank account each month. For Ascent rates and repayment examples please visit: AscentFunding.com/Rates. 1% Cash Back Graduation Reward subject to terms and conditions. Cosigned Credit-Based Loan student must meet certain minimum credit criteria. The minimum score required is subject to change and may depend on the credit score of your cosigner. Lowest rates require full
principal and interest payments, the shortest loan term, a cosigner, and are only available for our most creditworthy applicants and cosigners with the highest average credit scores. Actual APR offered may be higher or lower than the repayment examples above, based on the amount of time you spend in school and any grace period you have before repayment begins.
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1 – Terms and Conditions Apply
Loan products, terms, and benefits may be modified or discontinued by participating lenders at any time without notice. Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile. Variable rates may increase after consummation. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school, and meet the lender’s credit and income requirements to qualify for a loan. Certain membership requirements (including the opening of a share account, a minimum share account deposit, and the payment of any applicable association fees in connection with membership) may apply in the event that an applicant wishes to apply with, and accept a loan offered from, a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if you meet the lender’s eligibility criteria. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Loans for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not available via LendKey.com.
2 – Cosigner Release
Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.
3 – Autopay Rate Reduction
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.
4 – AutoPay Discount & Lowest Interest Rate
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 10 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.
1 – Terms and Conditions Apply
Loan products, terms, and benefits may be modified or discontinued by participating lenders at any time without notice. Rates displayed are reserved for the most creditworthy consumers who enroll to make automatic monthly payments. Your initial rate will be determined after a review of your application and credit profile. Variable rates may increase after consummation. You must be either a U.S. citizen or Permanent Resident in an eligible state and from an eligible school, and meet the lender’s credit and income requirements to qualify for a loan. Certain membership requirements (including the opening of a share account, a minimum share account deposit, and the payment of any applicable association fees in connection with membership) may apply in the event that an applicant wishes to apply with, and accept a loan offered from, a credit union lender. If you are not a member of the credit union lender, you may apply and become a member during the loan application process if you meet the lender’s eligibility criteria. Applying with a creditworthy cosigner may result in a better chance of loan approval and/or lower interest rate. Loans for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not available via LendKey.com.
2 – Cosigner Release
Some lenders participating on LendKey.com may offer the benefit of cosigner release. Cosigner release is subject to lender approval. In order to qualify, the borrower, alone, must meet the following requirements: (1) Make the required number of consecutive, on-time full principal and interest payments as indicated in the borrower’s credit agreement during the repayment period (excluding interest-only payments) immediately prior to the request. Any period of forbearance will reset the repayment clock; (2) The account cannot be in delinquent status; (3) The borrower must provide proof of income indicating that he/she meets the income requirements and pass a credit review demonstrating that he/she has a satisfactory credit history and the ability to assume full responsibility of loan repayment; (4) No bankruptcies or foreclosures in the last sixty months; and (5) No loan defaults.
3 – Autopay Rate Reduction
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments.
4 – AutoPay Discount & Lowest Interest Rate
Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised APR is only available for loan terms of 10 years and is reserved for the highest qualified applicants, taking into consideration the applicant’s credit and other factors.
Earnest
Student Loan Origination (Private Student Loan) Interest Rate Disclosure:
Student Loan Origination (Private Student Loan) Interest Rate Disclosure:
College Ave
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
(2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.
(3) This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
College Ave Student Loans products are made available through Firstrust Bank, member FDIC, First Citizens Community Bank, member FDIC, or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1) All rates include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. If a payment is returned, you will lose this benefit. Variable rates may increase after consummation.
(2) As certified by your school and less any other financial aid you might receive. Minimum $1,000.
(3) This informational repayment example uses typical loan terms for a freshman borrower who selects the Flat Repayment Option with an 8-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 7.78% fixed Annual Percentage Rate (“APR”): 54 monthly payments of $25 while in school, followed by 96 monthly payments of $176.21 while in the repayment period, for a total amount of payments of $18,266.38. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
Information advertised valid as of 11/1/2024. Variable interest rates may increase after consummation. Approved interest rate will depend on creditworthiness of the applicant(s), lowest advertised rates only available to the most creditworthy applicants and require selection of the Flat Repayment Option with the shortest available loan term.
Closing Thoughts From the Nest
If there’s anything to take away from this article, it’s these two dates: October 1st and June 30th. Remember to submit your FAFSA as soon as possible after the October 1st opening date so that you won’t have to worry about any federal, state, or institutional deadlines.
If you have already missed the FAFSA deadline, consider the following:
- Apply for scholarships and grants. You can apply for state, institutional, and private scholarships at any time of the year. Scholarships and grants are essentially free money for college. Take advantage of this.
- Consider private student loans. Student loans should be your last option if financial aid (federal student loans, work-study, etc.), scholarships, and grants don’t quite cover college costs. In order to see what private student loan options you pre-qualify for, submit a free form with Sparrow today.
- Appeal your financial aid award. If you don’t think you received as much aid as you qualified for or had any unusual financial changes, appeal your financial aid package to have your award reconsidered.