Important FAFSA Deadlines for 2023-2024 and 2024-2025

The Free Application for Federal Student Aid, otherwise known as the FAFSA, is a financial aid application form used to apply for financial aid from the federal government, state governments, and most colleges and universities. The FAFSA application season typically starts on October 1, and the FAFSA deadline is typically June 30, or the end of the academic year, whichever comes first.

The FAFSA deadline for the 2023-2024 academic year is June 30, 2024. This means that students had from October 1, 2022 until June 30, 2024 to file their FAFSA application for the 2023-2024 school year. The FAFSA deadline is the same whether you are an undergraduate student or a graduate student. You must complete the FAFSA to be considered for federal financial aid.

FAFSA Start Date Delayed for 2024-25 School Year

A new simplified FAFSA is being introduced for the 2024-2025 academic year. Due to the many changes involved, the FAFSA form for the 2024-2025 school year has been delayed. The U.S. Department of Education announced on November 15, 2023, that the new FAFSA will be available for students and families by December 31, 2023. The FAFSA deadline for the 2024-25 school year deadline is June 30, 2025.

The FAFSA is expected to return to an October 1 start date with the 2025-2026 school year.

Why You Should File the FAFSA as Soon as Possible

The FAFSA deadline is at 11:59 pm Central Time (CT) on June 30 of the academic year or the end of the academic year (the last day of enrollment), whichever comes first. You can make corrections to the FAFSA after it closes, but they must be submitted by mid-September, about two and a half months after the June 30 deadline.

Although students have until the end of the school year or June 30 to qualify for federal student aid, it is best to file the FAFSA much sooner. The college financial aid office must have received a valid output document (a SAR or an ISIR) by the FAFSA deadline.

When Should You File Your FAFSA?

Students and their families should file the FAFSA form as soon as possible on or after October 1 of the year before they go to school. October 1 is not a deadline, so much as a start date, but students who file the FAFSA later may miss out on some forms of financial aid. This is important whether you know where you’re going to school or not.

Students who file the FAFSA during the first three months tend to get twice as many grants, on average, as compared with students who file the FAFSA later.

When Is the Deadline for FAFSA Corrections?

For the 2023-2024 academic school year, all corrections or updates must be submitted by September 14, 2024, at 11:59 pm central time. Regardless of what the deadlines are for your college, or when they start looking at financial aid, you can still start your application on October 1st of the previous year.

Federal Student Aid Can Run Out

While federal student loans and the Federal Pell Grant function like an entitlement, federal campus-based aid is more limited. Each college gets a fixed allocation of Federal Supplemental Educational Opportunity Grant (FSEOG) and Federal Work-Study (FWS) funding, so the money can run out. This is one of the reasons it’s vitally important to apply for the aid you need as close to the October 1st date as possible.

State FAFSA Deadlines

Each state has its own financial aid deadline, and some state grant programs have very early FAFSA deadlines. Here is a list of every state’s deadlines that primarily apply to grants and scholarship opportunities at the state level. Be sure to verify with your state’s website, as these dates are subject to change:

More than a dozen states award state grants as soon as possible on or after October 1 or until funds are depleted. Those states include:

• Alaska (AK)
• Illinois (IL)
• Indiana (IN)
• Kentucky (KY)
• Nevada (NV)
• North Carolina (NC)
• North Dakota (ND)
• Oklahoma (OK)
• Oregon (OR)
• South Carolina (SC)
• Tennessee (TN)
• Utah (UT)
• Vermont (VT)
• Washington (WA)

An additional nine states have deadlines in December, January, February or March:

• California (CA)
• Connecticut (CT)
• Idaho (ID)
• Maryland (MD)
• Michigan (MI)
• Missouri (MO)
• Montana (MT)
• Texas (TX)
• West Virginia (WV)

Colleges May Have Early FAFSA Deadlines

Some colleges also have early financial aid deadlines, sometimes called a priority deadline, for the college’s own institutional aid. Even when the college FAFSA deadlines are earlier, the colleges must still use the government FAFSA deadlines for federal aid and state financial aid.

About 200 mostly private colleges and universities use a supplemental form, the CSS Profile, for awarding their own financial aid funds. These colleges must also still use the FAFSA for federal and state aid. The CSS Profile has the same October 1 start date as the FAFSA. Regardless of the college deadline, the October 1st date is still the best time to submit your FAFSA.

2 Tips to Improve Your FAFSA Application Process

Making sure you meet the deadlines for submitting your FAFSA is only part of the process to ensure your success. There can be things that hold you back such as not having the right information or IDs prior to your application or not having a good grasp on how much you need to borrow.

Here are two tips that can speed up your process and make it more efficient:

1. Get an FSA ID Early

The student and his/her parents or spouse can obtain an FSA ID prior to October 1. The FSA ID is an electronic signature used to sign the FAFSA online. You don’t have to wait until October 1 to get a FSA ID. It is a good idea to get a FSA ID before October 1 because students and parents have reported problems with getting or using an FSA ID. Families have also reported problems with expiring FSA IDs and updating the FSA ID’s password. The FSA ID must be renewed every 18 months.

2. Get Borrowing Help

Determining how much financial aid you or your child needs can be difficult if you’re trying to figure it out on your own. You can see your personalized affordability profile for three schools and find out how much you might need to borrow with the free MyCAP tool from College Aid Pro. If you want to get a personal coaching session or advanced features, use SFC15 for a 15% discount!

Upcoming FAFSA Deadlines and Which Application to File

It can be confusing to know which FAFSA you should file, as the deadlines can be either before the start of the academic year, or at the end of it, depending on whether they are federal, state, or college deadlines.

Here’s a quick guide to which FAFSA you should file:

Once you’ve submitted the FAFSA form, keep an eye on the individual financial aid deadlines for the colleges that you’re interested in attending. Prioritize those schools with the earliest deadlines, and be sure to submit any additional financial aid applications the schools may require, such as the CSS profile.

If you notice any mistakes on your form or need to make an update because your family’s financial situation has changed, you can make corrections via the My FAFSA portal. For the 2023-2024 academic year, you’ll need to submit corrections by September 9, 2023.

After submitting the FAFSA form, you’ll receive your financial award letter. This will outline how much free aid and federal loans you’re eligible for. If you feel the assessment is unfair, you can appeal.

If you’re planning on studying during the next financial year, start planning your next round of financial aid applications. As previously stated, it’s important to submit your FAFSA as soon as possible after the FAFSA opens on October 1 every year until you’re finished with school.

What Happens If You Miss the FAFSA Deadline?

As you can imagine, missing the FAFSA deadline isn’t good if you need financial aid. If a college student doesn’t submit the form by the June 30 deadline, they likely won’t be eligible to receive federal financial aid for the current award year.

If you miss your college or state deadline, it’s still worth the effort of filling out the FAFSA and submitting it. Some states and schools may still have funds to provide to late applicants, but the amount you receive is likely to be lower than it would have been if you’d applied before the final deadline.

There may also be other financial assistance available. Your school’s financial aid office may be able to help you find scholarships, grants, or an emergency loan fund that you can use to pay for some of your expenses. If you still come up short you may want to consider a private student loan. A private loan with a competitive interest rate is a great supplement to savings, financial aid, and federal student loans.

Regardless of why you missed the FAFSA deadline, take some steps to make sure you don’t miss it again. Gather the necessary information before the October 1 release of the FAFSA for the next academic year and submit your application as quickly as possible.

Frequently Asked Questions (FAQs) for FAFSA

We’ve compiled a list of the most frequently asked questions regarding the FAFSA application process and have briefly answered each below.

What is the deadline for FAFSA 2022-2023?

For the academic year 2023-2024, the FAFSA filing deadline is June 30, 2023, by 11:59 pm central time. The deadline for corrections or updates is September 9, 2023, by 11:59 pm central time. The deadline falls on the same day every year.

Is the FAFSA deadline extended?

The FAFSA deadline is set on June 30 every year. However, if you have already submitted your FAFSA and want to make corrections or updates, you have until September 9th of the same year.

When does FAFSA open?

The FAFSA opens on October 1st most years. For the 2023-24 academic year, the FAFSA opened on October 1, 2022. For the 2024-2025 FAFSA, the form will not become available until December pending the final simplified FAFSA.

Should you apply for FAFSA before applying to college?

It doesn’t matter what order you apply in, whether it’s college or FAFSA. However, it’s a good idea to apply for FAFSA as soon as possible, and you can do this before applying for college. It doesn’t matter if you haven’t decided what schools you’re applying to, as you can list up to 10 schools on the FAFSA form, and even add more later.

If you do decide to apply to any of these schools, their financial aid office will already have your relevant information to create your financial aid package.