The Free Application for Federal Student Aid (FAFSA) unlocks grants, work-study and federal student loans. This guide explains how to fill out the FAFSA for the 2027–28 academic year, step by step.
When to apply
The FAFSA usually opens on or around October 1 each year for the next academic year. Apply as early as possible, because some state and school aid is limited and awarded first come, first served. Check the official date and deadlines on StudentAid.gov.
Step 1: Create your StudentAid.gov account
You and each contributor, such as a parent or spouse, need your own StudentAid.gov account. Create them early because identity verification can take a few days.
Step 2: Gather your documents
- Social Security number (if you have one).
- Federal tax information from the relevant prior tax year.
- Records of untaxed income.
- Bank balances and investment values.
- A list of schools you want to receive your information.
Step 3: Understand contributors
A contributor is anyone required to provide information, such as your parents if you are a dependent student. Each contributor must give consent to have federal tax information transferred directly from the IRS.
Step 4: Complete the form
- Log in and start the FAFSA for 2027–28.
- Answer questions about dependency status.
- Invite contributors to complete their sections.
- Add schools.
- Review, sign and submit.
Step 5: Review your FAFSA Submission Summary
After processing, you receive a summary including your Student Aid Index (SAI). Schools use this to build your financial aid offer.
Common mistakes
- Waiting until after deadlines.
- Not including all contributors.
- Leaving fields blank or entering wrong figures.
- Forgetting to add schools.
After you get aid offers
Compare offers carefully. Grants do not need to be repaid; loans do. Borrow only what you need, and estimate future payments with our Student Loan Payoff Calculator.
Types of aid the FAFSA can unlock
| Aid type | Repaid? | Notes |
|---|---|---|
| Federal Pell Grant | No | For students with financial need |
| Federal Work-Study | No, you earn it | Part-time jobs, often on campus |
| Direct Subsidized Loans | Yes | Government pays interest while you are in school at least half-time |
| Direct Unsubsidized Loans | Yes | Interest accrues from disbursement |
| State and school aid | Varies | Many use the FAFSA to decide awards |
Understanding your financial aid offer
- Separate grants and scholarships (free money) from loans (must be repaid).
- Find the net price: cost of attendance minus grants and scholarships.
- Compare offers from different schools using the net price.
- Ask the financial aid office to explain anything unclear.
Borrow wisely
A common guideline is to keep total student debt at or below your expected first-year salary. Start with federal loans before private loans, since federal loans offer income-driven repayment and other protections. Estimate what your future payments will be with our Student Loan Payoff Calculator.
Look for scholarships too
Scholarships from local organizations, employers and community groups are often less competitive than national ones. Apply to several each semester. Every scholarship dollar is a dollar you do not need to borrow. Once you are at school, plan your spending with our Budget Calculator.
Your FAFSA checklist
Use this list to make sure nothing is missed.
- StudentAid.gov accounts created for you and all contributors.
- Tax and financial documents gathered.
- Schools added to your FAFSA.
- Contributors have completed their sections and given consent.
- FAFSA submitted and confirmation saved.
- FAFSA Submission Summary reviewed for errors.
- State and school deadlines added to your calendar.
Completing the FAFSA early each year can make a real difference to the aid you receive.
What happens after you fill out the FAFSA
Once you fill out the FAFSA, the process moves to your schools. Here is what usually happens next:
- Processing: the FAFSA is processed and you receive your FAFSA Submission Summary.
- Verification: some students are selected to verify information. Respond quickly to any school requests.
- Aid offers: schools send financial aid offers, usually with or after admission decisions.
- Accepting aid: you accept or decline each part of the offer, including loans.
- Loan requirements: first-time federal borrowers complete entrance counseling and sign a Master Promissory Note.
- Disbursement: aid is paid to your school, and any leftover amount is refunded to you.
Keep checking your student portal and email during this period. Missing a request can delay your aid.
For official, up-to-date guidance, see StudentAid.gov.
Frequently asked questions
Is the FAFSA free?
Yes. The official FAFSA on StudentAid.gov is always free. Avoid sites that charge a fee.
Do I need to fill out the FAFSA every year?
Yes. You must submit a new FAFSA for each academic year you want aid.
What if my family’s income has changed?
Contact your school’s financial aid office. They may be able to adjust your aid based on special circumstances.
What is the Student Aid Index (SAI)?
It is a number calculated from your FAFSA information that schools use to determine how much need-based aid you can receive.
Fill out the FAFSA: key takeaways
- Apply as soon as the FAFSA opens.
- Create StudentAid.gov accounts for you and all contributors.
- Gather tax and financial documents in advance.
- Compare aid offers and borrow only what you need.
Last reviewed: September 2026. This article is general education, not personal financial, tax or legal advice. Rules, rates and limits change, so check official sources or speak to a qualified professional before making decisions. See our Financial Disclaimer.