Paying for College
File The FAFSA
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Important FAFSA Facts
- The only way to be considered for federal and state grants and need-based scholarships is to complete the FAFSA.
- The FAFSA is the only financial aid form that many students need to fill out. Students attending some, typically private colleges, may be required to complete a second financial aid form, often the CSS Profile or another institutional financial aid form.
- The FAFSA must be filed every year a student plans to attend college. For Indiana students, the first FAFSA should be filed in the senior year between January 1 (the earliest date to file for the upcoming academic year) and the beginning of March. FAFSAs must be received by the federal processor by March 10 to be considered for Indiana state grant awards in the upcoming year. However, students may complete the FAFSA at any point during the academic year (prior to June 30 at the close of the academic year) for consideration for federal aid programs. Keep in mind, however, that some federal funds are distributed by the colleges early in the award process. It is always best to file the FAFSA as soon as possible in order to be considered for the full range of funding options.
- Although states often have deadlines by which students must file to be eligible for state grants, some colleges have earlier deadlines in order to be considered for institutional aid. Check with the colleges you are considering to see if they require an earlier submission.
Multiple Family Members in College
Many people will have more than one child in college at the same time, and this can impact financial aid eligibility. Each student that applies for financial aid must complete a FAFSA, and each student gets an Expected Family Contribution (EFC) based on his/her reported information. When figuring the EFC for students who have brothers and sisters in college at the same time, the... more
