FAFSA guide

By Select Your College editors · Updated Oct 30, 2026 · Where our data comes from

The campus of Sam Houston State University — Photo: Larry D. Moore, CC BY 4.0, via Wikimedia Commons

The FAFSA is the form that unlocks federal grants, loans and work-study, and most colleges and states use it for their own aid too. Here is what to know for the 2027-28 school year.

Dates vary by college. Always check each school's admissions page.

Key dates

September 23, 2026: the 2027-28 FAFSA opened to everyone (Federal Student Aid).
June 30, 2028: the federal deadline for the 2027-28 FAFSA. Colleges and states often have much earlier deadlines, some in the fall or winter, so file as soon as you can. See every FAFSA deadline by state.
June 30, 2027: the federal deadline for the 2026-27 FAFSA, for students who still need aid this year (Federal Register).

What you need

A StudentAid.gov account for the student and for each parent who must contribute.
Tax information from two years before the school year (2025 taxes for 2027-28). The form can pull it directly from the IRS with your consent.
A list of colleges to receive your information.

What you can get

Pell Grants: up to $7,395 a year in 2026-27, not repaid. Check with our Pell Grant calculator.
Federal loans: undergraduate Direct Loans carry a fixed 6.52% rate for loans first disbursed July 1, 2026 to June 30, 2027.
State and college aid: many states and colleges use the FAFSA to award their own grants and scholarships.

Step by step

Create StudentAid.gov accounts. The student and each parent who must provide information each need their own account (an FSA ID). Set them up a few days before you plan to file.
Start the form and invite contributors. The student starts the FAFSA and invites parents by email. Each person fills in their own section.
Give consent to pull tax data. Everyone who contributes information must consent to have federal tax information transferred from the IRS, even if they did not file taxes. Without consent the student is not eligible for federal aid.
Add your colleges. You can list many schools. Add every college you are applying to, even ones you are unsure about; it costs nothing.
Sign and submit, then check for a confirmation and your FAFSA Submission Summary, which shows your Student Aid Index (SAI).

What the Student Aid Index means

The SAI is a number the federal formula uses to measure your family's ability to pay. It is not what you will pay. Colleges use it with their cost of attendance to decide need-based aid. An SAI can be negative, which signals the highest need. Our Pell Grant calculator shows how family size and income relate to Pell eligibility.

Common mistakes

Waiting for the federal deadline. State and college deadlines can be months earlier.
Listing only one college. Add every school you might attend.
Forgetting the second parent account. Each contributor signs and consents separately.
Skipping the FAFSA because of income. Many colleges require it for their own grants and merit scholarships, and you need it for federal Direct Loans.

Tips

File early: some state and college aid runs out.
Compare what families like yours actually pay at each college with net price by income.
If your finances changed (job loss, medical bills), ask each college's aid office about a professional judgment review.

Frequently asked questions

When is the FAFSA due for 2027-28?

The federal deadline is June 30, 2028, but state and college deadlines are often much earlier, so file soon after it opens.

When did the 2027-28 FAFSA open?

September 23, 2026.

Do I have to file the FAFSA every year?

Yes. You file a new FAFSA for each school year you want aid.

Does the FAFSA cost anything?

No. The FAFSA is free at StudentAid.gov. Be careful of sites that charge to file it.

Do parents have to fill out the FAFSA?

For dependent students, yes: parents provide their information and consent as contributors. Students under 24 are generally considered dependent unless they meet a federal exception, such as being married, a veteran or supporting a child of their own.