Q: What Happens if I Miss the FAFSA Deadline?
A: There really is no good excuse at all for students to miss the FAFSA deadline. FAFSA gives students an ample amount of time to complete and submit their application. If you are in need of financial aid for college, submitting the FAFSA should be high on your list of priorities. You only need to file the FAFSA once per academic year, so make certain to set a reminder for yourself each January to complete your FAFSA.
So what happens if for some reason you do miss the deadline for FAFSA? Well, first there are actually two different FAFSA deadlines to be concerned with, the first being the deadline for federal financial aid, and the second being the deadline for state financial aid. To find out the state financial aid deadline for your state, contact your states education department. The deadline to get federal financial aid through FAFSA is June 30th of every academic year, however, many states have a February or March deadline to have your FAFSA completed by, if you want to be eligible for your states financial aid programs. If you have missed the FAFSA deadline, you will still need to complete and file your FAFSA as soon as possible. All FAFSA applications that are submitted after the processing deadline will be considered for funding only after all on-time filers have been awarded. A few additional things to keep in mind regarding the FAFSA and it’s deadline:
1. You can submit your FAFSA beginning January 1st of each academic year. The sooner you send in your application, the better, as some federal financial aid is awarded on a first come, first served basis.
2. You do not have to wait until you have submitted your tax returns to submit your FAFSA. Just look at last years return and use this years pay stubs to get an estimate of your return. FAFSA will allow you to submit your application using an estimate, and then will allow you to update your application with the correct information once you have filed your taxes.