FAFSA Explained: How Federal Student Aid Works
What the FAFSA is, who needs to fill it in, what the Student Aid Index means and the key dates for 2027–28.
In this guide
Key takeaways
- The FAFSA is used to apply for federal grants, work-study and federal student loans.
- Many states and colleges also use it to award their own aid.
- The 2027–28 FAFSA is already open at StudentAid.gov.
- Apply early, because some state and school aid is limited.
Introduction
The Free Application for Federal Student Aid, known as the FAFSA, is the starting point for most college financial aid in the US. It can open the door to grants, work-study, federal student loans and aid from many states and colleges.
This guide explains how it works, who needs to fill it in and what happens after you submit it.
Advertisement
What the FAFSA is used for
- Federal grants, such as the Pell Grant, which usually don't need to be repaid
- Federal Work-Study, part-time jobs for students with financial need
- Federal student loans
- State aid, in many states
- College and scholarship aid, since many schools and some private scholarships require it
Key dates for 2027–28
The FAFSA for the 2027–28 school year is for students attending college between July 1, 2027 and June 30, 2028. It opened at StudentAid.gov in September 2026, the earliest launch in the program's history.
The federal deadline is usually June 30 at the end of the school year, but state and college deadlines are often much earlier. Some state and school aid is limited and given first come, first served, so it pays to apply as early as you can.
8 more sections · 8 min read
Continue reading this guide
Watch a short ad to read the rest of this guide. You'll only need to do this once for this guide.
Not now, show me another guide →Who needs to provide information
The FAFSA asks for information from the student and, depending on the situation, other "contributors":
- Dependent students usually need information from one or both parents.
- Independent students may need information from a spouse, if married.
Each contributor needs their own StudentAid.gov account and gives consent for tax information to be shared from the IRS. The latest version lets students invite contributors by text or email.
Step by step: filling in the FAFSA
- Create a StudentAid.gov account for the student and each contributor.
- Gather information: Social Security numbers, tax information, records of savings and investments, and a list of colleges you're considering.
- Start the form at StudentAid.gov and invite contributors.
- Each contributor completes their section and gives consent.
- Add your colleges. They'll receive your information automatically.
- Submit, and keep your confirmation.
The Department of Education says most families can complete the redesigned form in about 15 minutes.
Advertisement
Your FAFSA Submission Summary and Student Aid Index
After you submit, you'll receive a FAFSA Submission Summary. It includes your Student Aid Index (SAI), a number colleges use to work out how much need-based aid you may receive. A lower SAI generally means more need-based aid.
Check the summary for mistakes, and make corrections at StudentAid.gov if needed.
Changes to know about for 2026–27 onward
A 2025 law made several changes to federal student aid starting July 1, 2026:
- For 2026–27, the maximum Pell Grant is $7,395. Students whose SAI is at least twice that amount ($14,790 for 2026–27) generally can't receive a Pell Grant.
- Graduate PLUS loans ended for new borrowers from July 1, 2026, with some exceptions for students already enrolled.
- New Parent PLUS borrowing is capped at $20,000 per student per year, and $65,000 in total per dependent student.
Your college's financial aid office can explain how these changes affect you.
Advertisement
After you submit
- Colleges review your information and send financial aid offers, often with or after an acceptance letter.
- Compare offers carefully: grants and scholarships don't need to be repaid, while loans do.
- Respond to any requests from the financial aid office, such as verification documents.
- Accept the aid you want, and decline anything you don't need.
- Fill in the FAFSA again each year you're in college.
Common FAFSA mistakes
- Waiting too long: state and college deadlines can be months before the federal one.
- Using the wrong website: the official FAFSA is only at StudentAid.gov.
- Not finishing every section: the FAFSA isn't complete until every contributor has finished and given consent.
- Leaving colleges off the list: add every school you're considering, as it doesn't affect your admission.
- Skipping it because you think you won't qualify: many families are surprised by what they can receive.
Advertisement
If your family's situation changes
The FAFSA uses tax information from two years before the school year, so it may not reflect a recent change such as job loss, a drop in income, divorce or large medical bills. If your situation has changed, contact each college's financial aid office. Many can review your circumstances and may adjust your aid, a process often called professional judgment. Be ready to share documents that show the change.
Conclusion
The FAFSA is the gateway to federal aid and much state and college aid. Apply as early as you can, make sure every contributor completes their part, check your FAFSA Submission Summary and compare aid offers carefully. Use the official site, StudentAid.gov. The FAFSA itself never costs anything to complete.
Common questions
Do I need to fill in the FAFSA every year?
Yes. You need to submit a new FAFSA for each school year you want to receive aid.
Should I fill in the FAFSA if I don't think I'll qualify?
Usually, yes. Many colleges and scholarships require it, and you may qualify for aid you didn't expect.
Is there a cost to fill in the FAFSA?
No. The official FAFSA at StudentAid.gov never charges a fee. Be wary of websites that ask for payment.
Sources and further reading
This guide is general information. Deadlines and rules change, so always confirm details with the scholarship provider, your school or studentaid.gov.
