Key Takeaways
- FAFSA determines what types of federal financial aid you qualify for and how much.
- Submit your FAFSA early and accurately to increase your chance of receiving grants, scholarships, and low-interest loans.
- Common mistakes on your FAFSA form can delay your application or reduce your aid package.
It costs twice as much to go to college today than at the start of the 21st century.
Fortunately, FAFSA, or the Free Application for Federal Student Aid, can make higher education more affordable.
It determines what types of financial aid you qualify for, including:
- Grants: Do not need to be repaid, unless you withdraw from school or fail to complete an obligation of the award.
- Work-study: Allows you to earn money to pay for college by working part time.
- Scholarships: Awards funded by nonprofit and private organizations, based on factors such as academic merit, talent, or field of study.
- Loans: Money you borrow and must pay back with interest.
Wondering how much assistance you can receive? In this blog, we’ll detail how to register for FAFSA, the common mistakes to avoid, and everything else you need to know.
What is FAFSA?
FAFSA decides how much and what type of financial aid you can acquire.
You and your parent(s) or guardian(s) fill out the free form each year you attend college. It asks for information about your family’s finances. You will only report yourself if you meet one of the following criteria:
- At least 24 years old
- Married
- A graduate or professional student
- A veteran
- A member of the armed forces
- An orphan, ward of the court, or emancipated minor
- Someone with legal dependents other than a spouse
Many state governments and institutions also use FAFSA to figure out whether you meet the eligibility requirements for their own assistance programs.
The money you get may only be used for qualified educational purposes, such as:
- Tuition and fees
- Books
- Classroom supplies
- Room and board
- Transportation
How to Register for FAFSA
It takes most people less than 30 minutes to complete the FAFSA form if you follow these steps:
- Gather your documents
You’ll be asked to provide certain information when filling out your application, including:
- W2s
- Your SSN
- Records of child support received
- Current balances of cash, savings, and checking accounts
- Net worth of investments, businesses, and farms
Collecting everything ahead of time ensures a smooth and faster FAFSA process. - Create a StudentAid.gov account
You use your Federal Student Aid (FSA) ID, a unique username and password, to complete your FAFSA form and more, such as:
- Review the amounts of your federal awards
- Access loan repayment tools
- Electronically sign documents
You and your parent or guardian, if required, will each need to register for one. - Enter student and parent information
Go to FAFSA.gov and select “Start New Form” for the upcoming academic year. You will be prompted to submit details about your:
- Identity
- Circumstances
- Demographics
- Financials
- Institutions
Next, your parent(s) or guardian(s) will need to fill in their information. - Review your FAFSA
Before you sign the form, double-check your responses for any errors or mistakes. - Submit the FAFSA form
After confirming all information, select the “Sign” button and turn in your application.
FAFSA forms submitted online will be processed within one to three days, or up to 10 days, if mailed in.
It then gets sent to the colleges listed on your application, who create your aid offer. Their response times vary.
How is FAFSA Calculated?
The information provided in your FAFSA form determines your student aid index (SAI) number, which institutions use to create an award package.
It ranges from -1500 to 999999. A negative SAI indicates a greater need for monetary assistance. However, it does not represent:
- The amount of aid you’ll receive, or
- What your family will be expected to provide
The money you receive also depends on your year in school, enrollment status, and cost of attendance (COA).
Once your institution’s aid office calculates your COA, they subtract your SAI from it to determine how much need-based assistance you can get.
Your non-need-based awards come from a college taking your COA and deducting it from the need-based aid already received.
According to a report from College Board, full-time undergraduate students received an average of $16,810 during the 2024-25 academic year.
Broken down by type, $12,080 of financial assistance came as grants and $3,790 in federal loans.
When is the FAFSA Deadline?
The FAFSA typically opens on October 1 for the school year that begins the following fall and must be completed by June 30.
States and institutions operate on different deadlines, sometimes much earlier, which you can find here. Some of them award aid on a first-come, first-served basis.
About 54 percent of high school seniors completed a FAFSA form in 2025.
Common FAFSA Mistakes to Avoid
In 2023, the federal government simplified the FAFSA to:
- Ask fewer than 50 questions – down from more than 100
- Allow you to list up to 20 colleges
- Offer the form in 11 languages
Still, errors happen – and they can cost you thousands. Avoid these common FAFSA mistakes to maximize your financial aid package:
- Waiting to file
The sooner you submit or renew your FAFSA, the better. It ensures you meet each college’s financial aid deadline, and due dates for state assistance and scholarships.
Set a reminder in your phone for the October release date so you can fill out your application quickly. - Reporting incorrect financial and asset information
You will enter income details from two years prior on the FAFSA.
For example, if you complete the 2026-27 form, your family will report information from your 2024 tax documents.
Failing to submit sources of untaxed income can also cause issues. This includes:
- Child support
- Workers’ compensation
- Veterans’ benefits
Lastly, your parents’ marital status may change how you enter your family’s financial details.
In cases of divorce or separation, the parent who contributed more during the previous 12 months must provide the information. Guidelines for other circumstances can be found here. - Leaving blank fields
Too many empty entries may lead to miscalculations or an application rejection. Write in a zero if the question does not apply to you. - Not reading directions
Review each definition and question carefully.
If you don’t know how to answer a section of the FAFSA, check the frequently asked questions or contact your college’s aid office. - Assuming you won’t qualify
Some students think they do not meet the requirements for need-based aid because their parents earn too much money.
You should still complete a form.
Institutions use FAFSA information to determine all kinds of assistance, including merit scholarships.
The federal government also updated the SAI formula as part of the 2023 changes to expand the number of students eligible for aid.
Other Ways to Pay for College
Fifty-nine percent of students consider dropping out of college because of financial stress.
Aside from grants, work-study, scholarships, and loans, you can save on tuition by:
- Taking online college courses: Accredited institutions such as Portage Learning offer online, self-directed courses that give you an opportunity to earn credit on your schedule — at a lower price point. Courses remain significantly less than the average four-year public university charges in-state residents and include all text and video materials needed.
- Considering dual enrollment: Dual enrollment allows you to take college courses and earn credit while in high school. Depending on how many you take, you could shave off nearly two years of your undergraduate education, which also saves money.
- Contributing to a 529 plan: These accounts let parents and family members set aside money for your education. Savings grow free from federal income tax, and you may withdraw the money tax-free when used for qualified expenses.
Make the Most of FAFSA – and Your Future
It costs a lot to go to college.
But the investment pays off — even today.
A 2026 report from College Board found bachelor’s degree recipients age 25 and older earned 62 percent more than those with just a high school diploma.
In addition to higher lifetime earnings, it noted individuals who attend college also:
- Experience lower unemployment rates
- Rely less on public support programs
- Engage more civically, and
- Exercise and eat healthier
FAFSA makes that return possible, keeping your future within reach — and budget.
(Take control of your college costs by enrolling in a flexible, affordable course from Portage Learning. Credits earned transfer to more than 2,800 institutions nationwide. Explore our courses and start saving on your education.)
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