For many families, the Free Application for Federal Student Aid (FAFSA) is both one of the most important and most confusing steps in the college journey. You may have heard about it in passing without realizing just how much it can influence your student’s financial aid opportunities.
We would like to emphasize that the FAFSA isn’t just for families with financial need. It’s a gateway to grants, work-study programs, loans, and even merit-based scholarships at many universities. Submitting it on time can make a significant difference in how affordable college is for your student.
Why FAFSA Matters
What every parent should know about how this form impacts your student’s path to college:
- Opens the door to aid. Federal and state governments, as well as colleges, use FAFSA data to determine eligibility for grants, scholarships, and loans.
- Not just need-based. Even if you think your family won’t qualify for federal aid, many schools require a FAFSA on file before awarding their own scholarships.
- First come, first served. Some aid is limited, so applying early increases your student’s chances of receiving the maximum amount.
When to File
The FAFSA typically opens each year on October 1 (though the 2024–25 form was delayed due to system updates). Submitting the FAFSA early is always the best strategy. Funds can and do run out and once the funds run out, they’re gone — even if your student is eligible. One top of that, some states and colleges have earlier priority deadlines than the federal one. Filing early also gives you breathing room to correct mistakes, upload missing documents, or handle verification without the stress of last-minute deadlines.
What You’ll Need
Here’s a quick checklist of what to have on hand before you file::
- Basic family income and tax return documents for 2024
- Social Security numbers for both parent and student
- Records of assets (such as savings accounts)
- A list of schools your student may apply to
Don’t worry if this sounds overwhelming, most of the information can be pulled directly from your most recent tax return.
Common Misconceptions
A few myths often trip up families:
- “We make too much to qualify.” Even higher-income families may benefit from filing FAFSA, since some schools require it for merit-based aid.
- “It’s only worth doing once.” FAFSA must be filed every year your student is in school.
- “It’s too complicated to bother.” The process has become more streamlined, and with tools like Red Kite to guide you, it’s far more manageable than most parents expect.
What’s New with the FAFSA This Year (Hint: Improvements to Help Families File Faster)
The 2026–27 FAFSA brings several important updates designed to fix past issues and improve accessibility. The form has been streamlined with fewer, simpler questions to make it easier to complete. It now features enhanced automatic data imports and clearer reporting. Here are a few more upgrades you can look forward to:
- Expanded Call Centers: The Federal Student Aid (FSA) has increased its call center staff and now offers 24/7 support.
- AI-Powered Assistance: The virtual assistant, Aidan®, has been upgraded with AI to provide instant answers to common questions and reduce user hold times.
- Automatic Data Import: The IRS Direct Data Exchange (DDX) tool allows for automatic import of tax information, reducing manual entry and errors.
- Continued Focus on Simplification: The changes are part of the FAFSA Simplification Act, which aims to streamline the financial aid process by reducing the number of questions and implementing the new Student Aid Index (SAI).
Final Thoughts
Filing the FAFSA is one of the most impactful steps you and your student can take toward making college affordable.
In our upcoming newsletter (make sure you’ve signed up with Red Kite so you won’t miss out), we’ll break down:
- The step-by-step FAFSA process (what to do and when)
- Tips for avoiding common mistakes
- How parents can maximize aid eligibility
With the right approach, FAFSA doesn’t have to feel overwhelming and it could open doors to significant financial support for your child’s future. Take advantage of the opportunity!
