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If college students are superheroes, the deadline will be their kryptonite.
However, the deadline for applying for federal student aid is coming, and you now want to add it to your calendar (yes, this is a bit confusing, but we will explain it later):
FAFSA 2020-21 school year deadline: June 30, 2021.
FAFSA 2021-22 school year deadline: June 30, 2022. “The deadline is next year!” you said. However, the sooner you receive your application, the more likely you are to receive part of it.
This First Date of submission for the 2022-23 school year: October 1, 2021, why care about the first day? Many schools issue grants within a few weeks (or days) after the FAFSA opens. Therefore, even if the deadline does not reach June 30, 2023, this is your opportunity to organize your paperwork so that you can be the first person to receive financial assistance.
Wait—what is FAFSA?
FAFSA representative Free application for federal student aid.
Simply put, FAFSA is a form you fill out to gather your financial information in one place. In turn, this information lets the wealthy know that you need financial assistance, including federal student loans, scholarships, grants, or work-study opportunities.
Many states and universities will use your FAFSA information to determine if you are eligible for state or school assistance, and some private providers also use it to determine if you are eligible for their financial assistance.
You will want to check Here for your state And contact your university’s financial aid office before the deadline.
Filling out and submitting your FAFSA is completely free, and you really shouldn’t skip it-even if the process seems scary.In the past few years, students from all over the United States have Up to $2.3 billion in student aid is left on the table (yes, there is a “b”) Ignore filling in their financial information.
Which FAFSA deadlines should I know?
The opening date for applying for the FAFSA each year is October 1st before the start of the school year (so for the 2021-22 school year, the FAFSA opens on October 1, 2020). This gives applicants enough time to submit their financial information before the school starts sending out financial aid.
The applicant uses the financial information of the previous year’s tax season. This means that if you plan to start college in the fall of 2021, you will use your (or your parents) tax information for 2019 (the information they submitted in early 2020).
The FAFSA application cycle is 21 months, starting on October 1 before the start of the school year and ending on June 30 of the school year.
Still confused? Yes, you and others.
Since the complete submission period for each academic year is more than one and a half years, many dates, deadlines, and submission periods overlap. Due to the chaotic timeline, it is easy to get overwhelmed and give up or forget deadlines altogether.
Here is a breakdown to help you determine which year’s forms should be filled out by which application deadline and which financial information to use.
| If you will go to university at: | You should submit: | Use income and tax information from the following sources: | Some time between: |
|---|---|---|---|
| July 1, 2020-June 30, 2021 | 2020-2021 FAFSA | 2018 (submitted in early 2019) | October 1, 2019-June 30, 2021 |
| July 1, 2021-June 30, 2022 | 2021-2022 FAFSA | 2019 (submitted in early 2020) | October 1, 2020-June 30, 2020 |
| July 1, 2022-June 30, 2023 | 2022-2023 FAFSA | 2020 (submitted in early 2021) | October 1, 2021-June 30, 2021 |
| July 1, 2023-June 30, 2024 | 2023-2024 FAFSA | 2021 (submitted in early 2022) | October 1, 2022-June 30, 2024 |
Although the time frame for submitting your application is wide, the earlier you submit it, the better your chances of receiving assistance. The federal deadline is the summer, but most schools will issue aid notices in the previous winter months.
“Each school has a priority deadline,” said Irene Dunn, director of financial aid and scholarships at the University of South Florida St. Petersburg campus. “When students apply before the priority deadline, they will be considered for the maximum amount and type of financial aid.”
Although federal assistance may be provided before the June 30 deadline, you should check with the school of your choice to see when you are required to submit the FAFSA annually to consider school-related financial assistance.
Why should I submit the FAFSA of the previous year Rear Is the school year over?
But should you bother to fill it out so late?
“Of course, fill it out, because if you don’t try, then you don’t know what you might be eligible for,” Dunn said.
Even later this year, you can receive retroactive financial assistance, including Pell grants or other forms of federal assistance.
If your financial situation has changed drastically in the previous academic year, you can submit 2020-2021 Fix FAFSA Before September 11, 2021. You also need to contact your school’s financial aid office.
In addition, it takes about an hour to fill out the FAFSA-and we have A guide to help you fill out in eight simple steps.
Remember, when it comes to FAFSA, the sooner the better.
Then, fill in the separate 2021-2022 FAFSA (open from October 1, 2020).
Once you have mastered these, you will be back on track and ready to fill out the applications open in October 2022-2023.
Grace Schweizer is the email content writer for The Penny Hoarder. Staff writer/editor Tiffany Connors contributed to this article.
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