When is the Free Application for Federal Student Aid (FAFSA) due? Whether you’re a new or current college student, it’s crucial to find out the FAFSA deadlines, since the FAFSA is your key to financial aid and student loans.
But while most applications have one deadline, the FAFSA actually has three: a federal, state and school deadline. The FAFSA deadline set by the federal government is June 30, 2020, for the 2019-2020 school year.
Colleges, though, can set their own, earlier FAFSA deadlines, and states can also set their own deadlines for students applying for state aid. To ensure you don’t miss an important date, your best bet is to submit the FAFSA as soon as possible after the process opens on Oct. 1.
This might sound confusing, but at least you have a strong incentive for submitting it ASAP: If you apply early, you might get more money for college.
When is FAFSA due?
Here are the three FAFSA deadlines you need to know about to qualify for financial aid.
1. The federal FAFSA due date
Since the Department of Education offers the FAFSA funding, it also sets a deadline for the application. But this deadline is a long one — you’ll have access to the FAFSA for over a year and a half.
The FAFSA for the 2019-2020 school year, for instance, became available on Oct. 1, 2018. It remains open until June 30, 2020. Plus, you can make corrections or updates until Sept. 14, 2020.
Most students file the FAFSA much closer to the date it opens than the date it closes. The main reason to file the FAFSA later in the school year would be if you had a major change in your financial circumstances.
“Students can file the FAFSA until the end of the academic year and still get some aid,” said financial aid expert Mark Kantrowitz. “This most often happens when a wealthy student has a change in family financial circumstances (e.g., death of a parent) that significantly affects their ability to pay for college.”
Unless you have a major change in your financial circumstances, you probably don’t need to worry about the federal FAFSA deadline, since you’ll be submitting the FAFSA months ahead of it. But you do need to consider state and college FAFSA deadlines, both of which come up a lot sooner.
Colleges rely on the FAFSA to award financial aid. If you get into a school, you’ll likely see your financial aid package at the same time as your acceptance letter. So for many colleges, you’ll need to submit the FAFSA in time for them to review your application and calculate your financial aid.
Each college sets its own deadline for the FAFSA. Note that a few schools also require the CSS Profile, another document that assesses your financial need. Head to the financial aid website of each college on your list to find its FAFSA deadlines.
Tufts University, for example, sets an early decision (ED) FAFSA due date of Nov. 15, two weeks after its ED applications are due. If you’re applying by Tufts’ regular decision deadline of Jan. 1, you’ll need to submit the FAFSA by Feb. 3.
At Tufts, as with some other colleges, your FAFSA deadline falls close to your college application deadline. But you might want to file the FAFSA months earlier to qualify for the most amount of financial aid from your state.
Finally, each state also might set its own FAFSA deadline for incoming college students. States also have financial aid programs, especially for residents attending in-state public colleges. Connecticut’s FAFSA deadline for the 2019-2020 school year, for example, was Feb. 15, 2019, at least for priority consideration.
To qualify for state financial aid, you need to file the FAFSA before the state deadline. In fact, the earlier you can submit your financial aid application the better, since some aid is given out on a first-come, first-served basis.
“Students should file the FAFSA as soon as possible on or after Oct. 1,” said Kantrowitz. “Students who file the FAFSA within the first three months (October, November and December) tend to receive more than twice as much grant funding, on average, as students who file the FAFSA later.”
Illinois, Kentucky and Oklahoma simply urge students to get the FAFSA in as soon as possible after Oct. 1. These states say awards are distributed until state financial aid funds are depleted.
Even though filling out the FAFSA can be time consuming, getting it done early is well worth the effort.
Submit the FAFSA as soon as possible
When is the FAFSA due? Perhaps the better question is, when does the FAFSA become available? Since it opens on Oct. 1 every year, you should simply plan on submitting it then.
Instead of waiting until your school, state or federal FAFSA deadline, try to file the FAFSA ASAP. You might start preparing your information in September so you can submit the application right after it opens on Oct. 1.
Then, you won’t have to worry about all these FAFSA deadlines. Instead, you can focus your attention on applying for scholarships.
Need a student loan?Here are our top student loan lenders of 2020!
|* The Sallie Mae partner referenced is not the creditor for these loans and is compensated by Sallie Mae for the referral of Smart Option Student Loan customers.
1 Sallie Mae Disclaimer: Click here for important information. Terms, conditions and limitations apply.
2 Important Disclosures for College Ave.
College Ave Student Loans products are made available through either Firstrust Bank, member FDIC or M.Y. Safra Bank, FSB, member FDIC. All loans are subject to individual approval and adherence to underwriting guidelines. Program restrictions, other terms, and conditions apply.
(1)All rates shown include the auto-pay discount. The 0.25% auto-pay interest rate reduction applies as long as a valid bank account is designated for required monthly payments. Variable rates may increase after consummation.
(2)This informational repayment example uses typical loan terms for a freshman borrower who selects the Deferred Repayment Option with a 10-year repayment term, has a $10,000 loan that is disbursed in one disbursement and a 8.35% fixed Annual Percentage Rate (“APR”): 120 monthly payments of $179.18 while in the repayment period, for a total amount of payments of $21,501.54. Loans will never have a full principal and interest monthly payment of less than $50. Your actual rates and repayment terms may vary.
(3)As certified by your school and less any other financial aid you might receive. Minimum $1,000.
Information advertised valid as of 4/1/2020. Variable interest rates may increase after consummation.
3 Important Disclosures for Discover.
Discover's lowest rates shown are for the undergraduate loan and include an interest-only repayment discount and a 0.25% interest rate reduction while enrolled in automatic payments.
4 Important Disclosures for CommonBond.
Offered terms are subject to change and state law restrictions. Loans are offered through CommonBond Lending, LLC (NMLS #1175900).
5 Important Disclosures for Ascent.
Before taking out private student loans, you should explore and compare all financial aid alternatives, including grants, scholarships, and federal student loans and consider your future monthly payments and income. Applying with a cosigner may improve your chance of getting approved and could help you qualify for a lower interest rate. Ascent Student Loans may be funded by Richland State Bank (RSB). Ascent Student Loan products are subject to credit qualification, completion of a loan application, verification of application information and certification of loan amount by a participating school. Loan products may not be available in certain jurisdictions, and certain restrictions, limitations; and terms and conditions may apply. Ascent is a federally registered trademark of Turnstile Capital Management (TCM) and may be used by RSB under limited license. Richland State Bank is a federally registered service mark of Richland State Bank.
* Application times vary depending on the applicant’s ability to supply the necessary information for submission.
5 Important Disclosures for Citizens.
Undergraduate Rate Disclosure: Variable rate, based on the one-month London Interbank Offered Rate (“LIBOR”) published in The Wall Street Journal on the twenty-fifth day, or the next business day, of the preceding calendar month. As March 1, 2020, the one-month LIBOR rate is 1.62%. Variable interest rates range from 2.72% – 10.98% (2.72% – 10.83% APR) and will fluctuate over the term of the loan with changes in the LIBOR rate, and will vary based on applicable terms, level of degree earned and presence of a co-signer. Fixed interest rates range from 4.72% – 12.19% (4.72% – 12.04% APR) based on applicable terms, level of degree earned and presence of a co-signer. Lowest rates shown requires application with a co-signer, are for eligible applicants, require a 5-year repayment term, borrower making scheduled payments while in school and include our Loyalty and Automatic Payment discounts of 0.25 percentage points each, as outlined in the Loyalty Discount and Automatic Payment Discount disclosures. Subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change. Please note: Due to federal regulations, Citizens One is required to provide every potential borrower with disclosure information before they apply for a private student loan. The borrower will be presented with an Application Disclosure and an Approval Disclosure within the application process before they accept the terms and conditions of the loan.
Federal Loan vs. Private Loan Benefits: Some federal student loans include unique benefits that the borrower may not receive with a private student loan, some of which we do not offer with the Education Refinance Loan. Borrowers should carefully review their current benefits, especially if they work in public service, are in the military, are currently on or considering income based repayment options or are concerned about a steady source of future income and would want to lower their payments at some time in the future. When the borrower refinances, they waive any current and potential future benefits of their federal loans and replace those with the benefits of the Education Refinance Loan. For more information about federal student loan benefits and federal loan consolidation, visit http://studentaid.ed.gov/. We also have several resources available to help the borrower make a decision at http://www.citizensone.com/EdRefinance, including Should I Refinance My Student Loans? and our FAQs. Should I Refinance My Student Loans? includes a comparison of federal and private student loan benefits that we encourage the borrower to review.
Citizens One Student Loan Eligibility: Borrowers must be enrolled at least half-time in a degree-granting program at an eligible institution. Borrowers must be a U.S. citizen or permanent resident or an international borrower/eligible non-citizen with a creditworthy U.S. citizen or permanent resident co-signer. For borrowers who have not attained the age of majority in their state of residence, a co-signer is required. Citizens One reserves the right to modify eligibility criteria at anytime. Interest rate ranges subject to change. Citizens One Student Loans private student loans are subject to credit qualification, completion of a loan application/consumer credit agreement, verification of application information, and if applicable, self-certification form, school certification of the loan amount, and student’s enrollment at a Citizens One Student Loans-participating school.
Please Note: International Students are not eligible for the multi-year approval feature.
Loyalty Discount Disclosure: The borrower will be eligible for a 0.25 percentage point interest rate reduction on their loan if the borrower or their co-signer (if applicable) has a qualifying account in existence with us at the time the borrower and their co-signer (if applicable) have submitted a completed application authorizing us to review their credit request for the loan. The following are qualifying accounts: any checking account, savings account, money market account, certificate of deposit, automobile loan, home equity loan, home equity line of credit, mortgage, credit card account, or other student loans owned by Citizens Bank, N.A. Please note, our checking and savings account options are only available in the following states: CT, DE, MA, MI, NH, NJ, NY, OH, PA, RI, and VT and some products may have an associated cost. This discount will be reflected in the interest rate disclosed in the Loan Approval Disclosure that will be provided to the borrower once the loan is approved. Limit of one Loyalty Discount per loan and discount will not be applied to prior loans. The Loyalty Discount will remain in effect for the life of the loan.
Automatic Payment Discount Disclosure: Borrowers will be eligible to receive a 0.25 percentage point interest rate reduction on their student loans owned by Citizens Bank, N.A. during such time as payments are required to be made and our loan servicer is authorized to automatically deduct payments each month from any bank account the borrower designates. Discount is not available when payments are not due, such as during forbearance. If our loan servicer is unable to successfully withdraw the automatic deductions from the designated account three or more times within any 12-month period, the borrower will no longer be eligible for this discount.
|2.75% – 10.65%*,1||Undergraduate and Graduate|
|2.69% – 10.97%2||Undergraduate, Graduate, and Parents|
|2.80% – 11.37%3||Undergraduate and Graduate|
|3.52% – 9.50%4||Undergraduate and Graduate|
|5.20% – 14.18%5||Undergraduate and Graduate|
|2.72% – 10.98%6||Undergraduate and Graduate|