The Free Application for Federal Student Aid, better known as the FAFSA, is now open for the 2027–28 academic year, giving students and families an early opportunity to begin the financial-aid process.
The U.S. Department of Education opened the application on September 23, making this the earliest FAFSA launch in the program’s history, according to Investopedia. The application is used to determine eligibility for federal financial aid and is also used by states and colleges when awarding certain types of assistance.
What Is the FAFSA?
The FAFSA is the primary application students use to seek federal financial assistance for college, career school and other eligible education programs. Completing the form can help determine eligibility for programs such as Federal Pell Grants, federal work-study and federal student loans.
States and schools can also use FAFSA information when determining eligibility for their own financial-aid programs.
Create a StudentAid.gov Account First
Students who do not already have an account will need to create one through StudentAid.gov before completing the FAFSA.
Parents or other contributors who are required to provide information must also have their own StudentAid.gov accounts. The Federal Student Aid office advises students and contributors to keep their login information separate and secure.
Applicants should make sure their personal information, including their name and date of birth, matches their official records.
Have Your Financial Information Ready
For the 2027–28 FAFSA, applicants will generally use 2025 tax information. The FAFSA allows eligible applicants to authorize the Department of Education to obtain federal tax information directly from the IRS.
Applicants may also need information concerning assets and other financial circumstances. Federal Student Aid recommends having relevant financial records available before beginning the application.
Parents May Need to Participate
Many undergraduate students are considered dependent students and will need information from a parent or parents.
The FAFSA determines which contributors need to provide information. Each required contributor must have their own StudentAid.gov account and provide the necessary consent and approval before the form can be fully processed.
Families with more than one student attending college can also take advantage of features that allow certain FAFSA information to be transferred to another child’s application.
Know Which Schools You Want to Consider
Students should have an idea of the colleges, universities or career schools they are considering before submitting the FAFSA.
The application allows students to send their information to schools they are interested in. For students who are still deciding where they will attend, the online FAFSA can include multiple schools.
Don’t Wait for the Federal Deadline
Although the FAFSA remains available for an extended period, students shouldn’t necessarily wait until the federal deadline to submit it.
States and individual schools can establish earlier deadlines for financial aid, and some aid programs have limited funding or operate on a first-come, first-served basis. Filing earlier can therefore be important for students seeking state or institutional assistance.
What Happens After You Submit?
Submitting the FAFSA is only the beginning of the financial-aid process.
After processing, students can review their FAFSA Submission Summary, which includes information such as the Student Aid Index and estimated federal aid eligibility. Students should check the summary carefully and make corrections if necessary.
The FAFSA Submission Summary is not the same thing as a school’s financial-aid offer. Colleges provide financial-aid offers separately after making admissions and aid determinations.
The Bottom Line
With the 2027–28 FAFSA now available, students and families can begin preparing their financial-aid applications ahead of the academic year.
Having StudentAid.gov accounts ready, gathering financial information, identifying required contributors and checking state and college deadlines can help applicants move through the process more smoothly.
The FAFSA itself is free, and completing it is an important step for students seeking federal, state or institutional financial assistance.
Source: investopedia