Top 10 Facts You Need To Know About The FAFSA

Last updated September 29, 2025

In this article

• Completing the FAFSA may make you eligible to receive different types of financial aid
• You and your contributors must set up a StudentAid.gov account (FSA ID) before completing the FAFSA
• You will use financial information from two years ago
• The 2026-2027 FAFSA is open and will close on June 30, 2027
• You will probably need to provide parent information on the FAFSA
• You must use accurate financial information when completing your FAFSA
• Some states require you to list colleges in a certain order on the FAFSA
• Colleges will use multiple methods to follow up on your FAFSA
• Most states offer free FAFSA help
• If you have questions or need help with your FAFSA, support is out there!

If you’re new to completing the FAFSA, here are 10 facts you need to know about it!

Completing the FAFSA may make you eligible to receive different types of financial aid

Completing the FAFSA doesn’t commit you to anything—it simply gives you more options to choose from. You are not required to attend any of the colleges you list on your application. You are also not required to accept all (or any) of the aid you’re offered from colleges in your financial aid offer letters. You can select the aid you want and reject the rest. Here are three ways the FAFSA gives you options:

• You have more college options. By completing the FAFSA, you increase your chances of receiving federal, state, and institutional aid that can make attending a certain college more affordable and within reach.
• You have more financial aid options. A large majority of federal, institutional, and state aid (including scholarships, loans, and grants) is awarded to students only if they’ve completed the FAFSA. This means more aid options are potentially available to you.
• You have more potential job options. When completing the FAFSA, you can be considered for work-study, a federal aid program that allows eligible students to work part-time, on-campus jobs to earn money to help pay for school expenses.

You and your contributors must set up a StudentAid.gov account (FSA ID) before completing the FAFSA

You and your contributors (parents or spouses) are required to create StudentAid.gov accounts to access, complete, and submit the FAFSA. You will not be able to access the FAFSA without it. Accounts are authenticated immediately and you can proceed with the form.

You will use financial information from two years ago

For the 2026-2027 FAFSA, you will use a completed 2024 income tax filing.

The 2026-2027 FAFSA is open and will close on June 30, 2027

While the federal deadline for the FAFSA is June 30, some states and colleges have their own deadlines. Be sure you know both your state and college’s FAFSA deadlines to ensure you’re submitting on time.

You will probably need to provide parent information on the FAFSA

A majority of students will need to add parents as contributors to their FAFSA, even if they have a job and file their own taxes. Check out FSA’s guide on who is considered an independent student on the 2026-2027 FAFSA to learn more. If you’re having trouble accessing your parents’ income information, speak to your school counselor or connect with your college’s financial aid office to learn your options. 

If you’re a dependent student living with one or more undocumented parents, you can still complete the FAFSA with your Social Security number. Parent(s) without an SSN can still make a StudentAid.gov account and contribute to a student’s FAFSA.

It’s important to understand that at this time, personal data submitted through the FAFSA—including a contributor’s citizenship status—may or MAY NOT be protected by the U.S. Department of Education. While contributing to a student’s FAFSA as an undocumented parent generally should not affect their eligibility to receive federal financial aid, other potential risks that undocumented contributors may face are currently unknown. Before completing the FAFSA, we advise you to talk to your family to make an informed decision that works best for you.

You must use accurate financial information when completing your FAFSA

The FAFSA allows contributors’ tax information to be pulled directly from the IRS, allowing for the most accurate reporting. Contributors must consent for IRS data information to be pulled to qualify for aid. Submitting inaccurate financial information may cause your FAFSA to be selected for verification or rejected.

Some states require you to list colleges in a certain order on the FAFSA

To be considered for state financial aid, some states may require your colleges to be listed in a specified order on your FAFSA. Check out FSA’s guide for listing colleges on your FAFSA to learn what your state’s rule is. 

Colleges will use multiple methods to follow up on your FAFSA

To make sure you’re receiving crucial information relating to your FAFSA submission, check your physical mailbox and email regularly. Be sure to tell your contributors to do the same, since they will need their own email for any official correspondence from FSA.

Most states offer free FAFSA help

Check out our list of FAFSA help by state to learn what free resources and supports are available to you. 

If you have questions or need help with your FAFSA, support is out there!

In addition to the resources we shared above, there are other ways to receive help on your FAFSA! If you have any questions or need support, connect with a Get Schooled Advisor.

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