FAFSA FAQs

According to the College Board, the average price for one year of undergraduate studies can range from $24,610 for an in-state public school, to $49,320 for a private university.

There is some good news, however. Several different sources of financial aid are available for qualifying students, the largest of them being the federal government.

In order to qualify for federal grants, loans, and work-study eligibility, incoming students must complete the FAFSA form. FAFSA, or Free Application for Federal Student Aid, is used to determine a student’s eligibility for financial aid. In addition to federal funding, your FAFSA may also be used to determine financial aid from your state, and even your school.

With that said, you can see why it is important to submit your FAFSA on time every year, and make sure all of your information is correct. The FAFSA form can be tricky for parents and students alike, so we’re here to answer some of your most frequently asked questions.

How do I fill out the FAFSA?

You can submit your FAFSA form at https://fafsa.ed.gov/. You will need a Federal Student Aid ID and password. If you have previously submitted a FAFSA, your ID and password will be the same as last year. If you don’t have one yet, don’t worry. Just follow the instructions in this video.

When is the FAFSA deadline?

The federal deadline for the 2016-2017 school year is: June 30, 2017 by midnight CST.

The federal deadline for the 2017-2018 school year is: June 30, 2018 by midnight CST.

State deadlines may vary from state to state. You can view the deadlines in your state by clicking here.

You may notice that the deadline for this school year is not until the end of June. That’s because the loans you receive can be applied retroactively. However, it is best to submit your form as soon as possible, as aid is often distributed on a first come, first served basis.

Do I need to fill out the FAFSA each year?

Yes. It can be a pain, but your eligibility can change from year to year based on your family’s financial situation and other various factors.

Do I have to pay to submit my FAFSA?

No! After all, the first F stands for “free”. However, since it can be a time-consuming task, some services may charge you to complete your FAFSA for you – much like a tax return.

Even with financial aid, planning for college is tough. Let us help. American Investment Planners, LLC offers financial planning services for families across the country, including those trying to put their children through college.

To schedule an appointment with one of our advisors, please call (516) 932-5130 or email info@americaninvestmentplanners.com.