Get Ready: FAFSA Opens October 1 — The What, When & Why’s

Filing the FAFSA might not sound glamorous, but it’s one of the most important steps families can take to make college more affordable. This single application unlocks federal grants, work-study, loans, and often state or school-based aid, including merit awards. Whether you expect to qualify for need-based help or not, completing the FAFSA keeps doors open and options on the table.

What is the FAFSA?

The Free Application for Federal Student Aid (FAFSA) provides access to all federal grants, work-study, and student loans, and is also the form most states and colleges use to determine eligibility for need-based aid and some merit awards.

When do I need to file the FAFSA?

The 2026-27 FAFSA opens on October 1, 2025. The 2026-2027 FAFSA deadline is June 30, 2027 or the last day of enrollment, whichever comes first, but many colleges and states have earlier deadlines.

When should I get started?

ASAP!

Why?

Aid is awarded on a first-come, first-served basis at many schools and state programs, so early filing can literally pay off.

State grants go quickly. Some states award aid on a first-come, first-served basis until funds run out. If you file in October, you’ll be at the front of the line.

College priority deadlines also creep up fast. Many institutions set November 1 or December 1 as their FAFSA priority date which is well before regular decision applications are due.

What do I need to get started?

You need to create an account at StudentAid.gov. You also need the following information handy:

• Your Social Security number
• Your 2024 federal tax return data will be pulled directly through the IRS Direct Data Exchange but keep a PDF copy handy.
• Records of any untaxed income (e.g. child-support received)
• Asset balances as of the day you file (e.g. checking, savings, investment). Note that retirement plan accounts and grandparent-owned 529 plans are excluded.

Why should I file if I don’t think I’ll get any aid?

• There is no income or asset cut-off.  The federal formula weighs cost of attendance, family size, number in college, etc.
• Merit money often hides behind the FAFSA gate.  Private colleges, honors programs, and many state scholarship agencies won’t release merit-based awards unless a FAFSA is on file even if the calculated need is zero.
• It’s the only consideration for doorway to low-interest federal loans.  Direct unsubsidized Stafford and Parent PLUS loans are available to every filer regardless of income and carry borrower protections rarely found in private loans.
• Colleges use it for payment plans, emergency grants, and institutional aid calculations.  Skipping the form can shut you out of tuition installment plans, on-campus jobs, or one-time relief funds.
• Filing is an insurance policy if life changes.  Job loss, medical bills, or a second child in college can suddenly create need and aid offices can adjust packages quickly only when a current FAFSA exists.
• Zero downside.  The form is free and can be finished in 30–60 minutes with IRS data pull. The worst that happens is confirmation you can self-fund; the best is unexpected grants or cheaper borrowing.

Closing Thoughts

Navigating the FAFSA can feel overwhelming, but a little preparation goes a long way. With a streamlined form and direct IRS data transfer the process is less painful than ever. This makes filing the FAFSA one of the simplest, high-impact steps families can take to lower college costs. By gathering documents early, understanding how assets are reported, and filing as soon as possible, you’ll put your family in the best position to maximize financial aid opportunities.

My recommendation: Block out an evening in early October to gather your documents and hit “submit” on your FAFSA application before Halloween. Your future college student (and your wallet) will thank you.