FAFSA Is Now Open For 2027-28: A Family Checklist to Get Every Dollar

If your student plans to start college or trade school in Fall 2027, the Free Application for Federal Student Aid (FAFSA) is the first step toward paying for it. The 2027–28 form is now available, and the deadline to complete it is June 30, 2028. A record 59.1% of the class of 2026 finished the FAFSA, so about 4 in 10 seniors never filed.

This WorkMoney guide covers when to file, what you'll need, which deadlines matter most, and how to get every dollar your family qualifies for.

When Does FAFSA Open?

The 2027–28 FAFSA opened on Sept. 23, 2026. This application is for students seeking financial aid for the 2027–28 academic year. 

While the federal FAFSA deadline comes much later, don't assume you have plenty of time. States and colleges can have earlier priority deadlines and limited funds, so submitting your FAFSA before those deadlines can help you qualify for as much aid as possible.

What Are the FAFSA Deadlines?

Track three deadlines: federal, state, and college.

• Federal: This is the final date you can submit the FAFSA and still be considered for federal student aid for that academic year.

• State: States set their own deadlines for grants, scholarships, and other state-based aid. Some programs have limited funding, so the sooner you complete your application, the more likely you are to get as much as you can.

• College: Schools often set the earliest deadline of the three. Check each school’s financial aid page or call the office.

Your safest strategy is to find all three deadlines and follow the earliest one that applies to you. Waiting until the federal deadline could mean missing opportunities for state or college-based financial aid.

What Do You Need to Fill Out the FAFSA?

Before starting a FAFSA application, gathering the information you'll need can make the application much easier. The exact requirements depend on your situation, but students generally need:

• StudentAid.gov accounts: The student and any required contributors, such as a parent or spouse, need their own accounts to complete their portions of the FAFSA.

• Personal information: This can include Social Security numbers, if applicable, and other identifying information.

• Tax and income information: When you and each contributor give consent, the IRS sends your federal tax data straight to the FAFSA. Everyone must consent, even if they didn’t file taxes. Without consent, your student can’t get federal aid. 

• Asset information: You'll report cash, savings, and checking balances, plus investments like stocks or a second home. Your home, retirement accounts, and family businesses or farms with fewer than 100 full-time workers don’t count. 

• Your college list: Add the colleges you’re considering so they can receive your FAFSA information and determine what financial aid you may qualify for. List up to 20 schools, even ones you haven’t applied to yet.

Having this information ready before you begin can help you complete the FAFSA accurately and avoid unnecessary delays.

How to Apply for FAFSA

The FAFSA is how you apply for federal grants, work-study, and federal student loans. States and colleges also use your answers to award their own aid. 

Here’s how to get started:

• Create your StudentAid.gov account. The student and required contributors need their own accounts.

• Gather your information. Have your personal and financial information ready.

• Start your FAFSA. Complete your portion of the application at StudentAid.gov.

• Invite contributors. Parents, spouses, or others required to provide information will complete their own sections.

• Add your colleges. Select the schools you want to receive your FAFSA information.

• Review and submit. Check your information for errors, provide the required signatures, and submit your FAFSA.

What Happens After You Submit the FAFSA?

Most forms process right away, though some take one to three days. Then you’ll find your FAFSA Submission Summary in your StudentAid.gov account. It shows your answers, your estimated federal aid, and your Student Aid Index (SAI), a number schools use to build your aid offer. Your SAI isn’t the amount your family will pay; it’s just an estimated figure based on your application.

If you spot a mistake, select “Make a Correction.” If your finances change after the tax year the form uses, such as a job loss or large medical bills, contact each school’s financial aid office and ask for an aid adjustment. When offers arrive, subtract grants and scholarships from each school’s cost. What’s left is what you’d pay or borrow through student loans.

What Aid Can FAFSA Help You Get?

Completing the FAFSA can qualify you for several types of financial aid. Federal Student Aid says the application can determine eligibility for federal aid, while states and schools may also use your FAFSA information for their own programs.

• Federal grants: Grants, including the Pell Grant, are free and generally don’t need to be repaid. You can learn more about federal grants through Federal Student Aid.

• Federal Work-Study: Eligible students can earn money for school expenses through part-time employment.

• Federal student loans: FAFSA can qualify students for federal Direct Loans, including subsidized and unsubsidized loans. Loans must be repaid, usually with interest.

• State financial aid: States may offer their own grants, scholarships, and other assistance. Some require only the FAFSA, while others have a separate application.

• College-based aid: Colleges can use FAFSA information to determine eligibility for grants, scholarships, and other aid offered directly by the school.

Once you receive your financial aid offers, compare the types of aid and your actual out-of-pocket cost, not just the total dollar amount offered.