Free Application for Federal Student Aid or better known as FAFSA open date for the 2021 – 22 academic year will begin on October 1st, 2020. The students can submit their applications through June 30, 2022.
Although a student will have plenty of time to submit their FAFSA form to the Federal Student Aid of the Department of Education, the earlier a student does it, the better.
In addition to federal student aid, a student can apply for state grants or scholarships. The deadline for the state applications is different from the FAFSA deadline though. But, the state open dates are the same as the federal applications.
Since the states have limited funds, the student aid is given until the funds are depleted. Due to this, you should apply as soon as possible after October 1.
Submitting FAFSA Form After October 1
For the 2021 – 22 academic year, you can submit your FAFSA on October 1, 2020. You can do this in two ways. You have the option to print out the paper FAFSA form and mail it to the Department of Education or create an account on StudentAid.gov.
It is suggested that you submit your FAFSA online as it will take less time to be processed and you will get your Student Aid Report earlier.
What is my Student Aid Report?
A Student Aid Report (may be shown as SAR) is the summary of your FAFSA. It includes the answers you’ve given on your application and other relevant information. The most important thing the Student Aid Report provides you with is going to be your Expected Family Contribution.
This is what you’re going to use to figure out your financial need. To calculate how much you’re eligible to get in financial aid, subtract the Expected Family Contribution from the Cost of Attendance. The result is the financial aid you are eligible to get. If your Expected Family Contribution is higher than the Cost of Attendance, you won’t be eligible for student aid.
If you think your Expected Family Contribution was calculated wrong and there are errors, make sure to contact the Department of Education.