FAFSA

• ​​​The Free Application for Federal Student Aid (FAFSA) is a form that collects financial information about the student and the family.

• ​This information is used to calculate the EFC.  Colleges use the EFC to award financial aid.

• ​First, at least one parent and the student will need to set up a FSA ID.  

• ​Then, you can log-on to the website and being working on the FAFSA.  It will ask general information, student dependency, parental information, information about the student, and tax information.

• ​FAFSA can be filed at any time, but not earlier than December 1st prior to the year for which the student is asking for the aid.  Most colleges set FAFSA deadlines.  

• Students must apply each year using the FAFSA.

• ​Corrections can be made to FAFSA data by logging back into the website.

• FAFSA Overview: https://www.youtube.com/watch?v=NmEP38x-1Z8&t=22s

When do I need to complete the FAFSA?

• The application opens on October 1 every year. Make sure you complete the FAFSA for the correct school year. You are always filling out the FAFSA for the next school year. So, if you are graduating from high school in 2026, you should fill out the 2026-2027 FAFSA, because you will be starting college as a freshman in the Fall 2026 semester. You will use tax documents from the prior prior year, so when you start your FAFSA on October 1, 2025, you will use your 2024 tax returns.

• **TIP** Federal money is awarded on a first-come, first-served basis. While the Missouri deadline for submitting the FAFSA is the beginning of February, you don’t want to wait until the deadline to submit your FAFSA. 

How do I get started?

• https://myfuture.com/preparing-for-school/how-to-apply-for-fafsa/ 

• The student and parent/guardian need to apply for an FSA ID. It serves as an electronic signature. You keep your FSA ID for every year you complete a FAFSA, and parents of multiple students only need one FSA ID.

• **TIP** Be sure the student uses personal email addresses NOT school email addresses. After graduation, you won’t have access to the school email system. 

• Create an FSA ID: https://studentaid.gov/sites/default/files/creating-using-fsaid.pdf 

• Once the FSA ID is set up, it’s time to complete the FAFSA. You will need tax documents from the prior year (for the class of 2026, that’s the 2024 tax year).

• Apply for Financial Aid: https://studentaid.gov/h/apply-for-aid/fafsa

• **TIP** Be sure to list ALL of the colleges the student is considering. Colleges cannot request FAFSA information-it has to be sent to them.

What happens next?

• After the FAFSA: https://www.youtube.com/watch?v=1c1gNefSw78

• Once you have submitted the FAFSA, you will get the SAR (Student Aid Report) with an SAI (Student Aid Index). The SAI is the number that college Financial Aid Offices will use to determine what and how much need-based financial aid a student is eligible for. You may be selected for verification. This is often randomly selected, so don’t panic! Follow the directions from the Financial Aid Office and supply the additional documents that are requested.  

The Ultimate Guide to Financial Aid and FAFSA:

• This in-depth guide gives students all the resources they need to successfully apply for the FAFSA and fund their college costs.

• https://study.com/resources/fafsa-and-financial-aid-guide-for-college