As your child embarks on their senior year, college is on the horizon. Sending a child off to college is a significant emotional and financial milestone. With an average annual cost of $27,146 at public universities and $58,628 at private institutions, a solid financial strategy is essential. Fortunately, the Free Application for Federal Student Aid, or FAFSA, can ease the financial burden by determining eligibility for federal grants and loans. However, recent FAFSA delays have added complexity to the process, making it crucial to understand what's ahead.
For those already in the know, the recent FAFSA delays were confirmed by the Education Department, which stated that the application for the 2025-26 school year won't be accessible to all until December 1, rather than the usual October 1.
What caused the FAFSA delays? Last year, the Education Department overhauled the FAFSA, aiming for a smoother experience, but the execution fell short, leading to technical problems and delays.
To avoid a repeat of last year's issues, the Education Department will conduct tests of the 2025-26 FAFSA with a select group of students and institutions to identify and fix any glitches before its broader release. According to the Education Department, this phased approach aims to gather feedback to ensure clarity and usability for all users.
Prepare for the 2025-26 FAFSA Release
Whether you're part of the testing phase or waiting for the full rollout on December 1, it's wise to prepare now for when the application opens.
To assist you, we've put together a checklist of necessary information to help secure the best financial options for your future college graduate.
Start with Your FSA ID
Your first task in completing the FAFSA is to obtain your FSA ID. You can create this by visiting the Federal Student Aid website. You'll need to provide your email, birth date, full name, Social Security number, and set a username and password. You can complete this step ahead of the application date, so don't wait!
Collect Your Documentation
Gathering the necessary documents before starting your FAFSA is crucial. Keep them organized in a folder and ensure everything is accounted for before you begin your application.
For the student:
- Social Security number
- Driver's license
- Last year's W-2 form
- Last year's tax return
- Records of untaxed income from the previous year (if applicable)
- Current bank statements and investment records (if applicable)
- List of preferred colleges
If your child doesn't file taxes, doesn't have a driver's license, or lacks a checking account, there's no need to worry—this just means less paperwork for you.
For the parents:
- Last year's W-2 form
- Last year's tax return
- Records of untaxed income from the previous year (if applicable)
- Current business and investment records
- Current bank statements
Review Your Family Situation
The FAFSA process isn't the same for everyone. Unique family situations, whether due to divorce, widowhood, same-sex marriage, or guardianship, may require specific approaches. Check out this guide for tailored advice.
Submit the Application Promptly
Once you have everything in order, complete the application as soon as possible. For most, that means December 1, provided there are no further delays. Mark your calendars, set reminders, and keep it top of mind—you want your child to have the best chance at securing financial aid.
Even if you believe your income may disqualify your child from receiving aid, don't skip the FAFSA. Numerous scholarships and grants require this form, regardless of income. Plus, it opens doors to federal loans that may be low-interest or forgivable. Regardless of your financial situation, filling out the FAFSA is essential, so do it as early as you can.
