When is the FAFSA 2023 deadline and how do I make an application? | The Sun
EACH state has its own deadline for financial aid for students.
Here is everything you need to know about submitting a Free Application for Federal Student Assistance (FAFSA) for the 2022-2023 academic year.
What is the deadline today?
For California students applying for FAFSA, March 2, 2023, at midnight is the deadline to submit your California Dream, FAFSA priority and California Grant GPA applications.
If not submitted today, you can't be considered for priority financial aid.
If you file after the March 2, 2023, deadline, you'll only be considered for Federal Direct Subsidized/Unsubsidized Loans, renewal Cal Grant, and Pell Grant.
After applying, check your documents on May 1 to be sure you don't need to provide additional actions.
What is FAFSA?
FAFSA is a form completed by current and prospective students to determine their eligibility for financial aid.
This includes student loans, grants, scholarships and federal work-study programs.
The application requires personal and financial information from students and their parents, and applies a unique formula to determine an "Expected Family Contribution", known as an EFC.
If you meet the simple eligibility requirements, financial aid will then be calculated based on what school year you are in, enrollment status, cost of attendance, and the Expected Family Contribution.
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FAFSA will distribute different funds to cover the costs of specific schools.
When is FAFSA due?
The forms for the 2022-2023 academic year are already available and close on June 30, 2023. Any corrections are due by September 10, 2023.
Opening times and deadlines vary from state to state, so make sure you look at what's going on in your state before applying.
Students are encouraged to submit their forms as soon as possible as some financial aid is provided on a first-come-first-served basis.
It is important to be aware of the differing college, state, and federal deadlines.
Can I make corrections after the deadline?
Once your FAFSA form is submitted, it will be distributed among the schools listed on the application.
Financial aid offices at each institution will then negotiate how much federal funding people qualify for, dependent upon their circumstance.
If you make a mistake on your form, there are a few ways to correct it.
You can make changes online at fafsa.gov by logging into your account and entering your FSA ID.
Then, on the "MY FAFSA" page, select "Make FAFSA Corrections".
You can then simply create a save key, change your information, and submit your updated form.
Alternatively, you can write in the corrections on your physical paper form, sign it and mail it to the address provided to amend your application.
It is also worth contacting the financial aid office at the schools you have applied for as they may be able to make adaptions electronically.
When do I have to start paying FAFSA back?
FAFSA is the free form not the actual aid itself but many students refer to it as the financial aid they receive after filing the form.
Grants and scholarships are known as gift aid and do not need to be repaid but federal student loans need to be paid back.
Paying back is required after graduating from college, dropping below half-time enrollment, or when you leave school.
For most federal student loans, you have a six-month grace period before you are required to start making payments.
Those with a Direct Subsidized, Direct Unsubsidized, or Federal Family Education Loan, have a six-month grace period before regular payments are required. Those with a Perkins Loan are granted a nine-month grace period.
This allows you to become as financially secure as possible and choose an appropriate repayment plan that works for you,
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Your servicer will automatically include you in the Standard Repayment Plan, that provides a schedule for the loan repayments, listing the frequency and amount of them.
It is important to be aware of what federal loan you have received and what repayment plan you are a part of.
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