The 2027-28 FAFSA is open. How filing now can maximize your aid

• Experts recommend submitting the FAFSA for the 2027-2028 school year as soon as possible to maximize potential aid.
• Filing early provides more time to correct errors, compare aid offers and plan for any remaining college costs.
• While the federal deadline is in June 2028, many states and institutions have earlier deadlines and limited funds.

The Free Application for Federal Student Aid, or FAFSA, for the 2027-2028 school year is now open. And while the federal filing deadline isn’t until June 2028, experts recommend submitting your application now.

“The faster families can submit their FAFSAs, the better odds they have for maximizing the amount of financial assistance they can receive,” says Amanda Elliott, Associate Director of Financial Aid and Student Finance Advising at Colorado State University Global.

Filing early can help you maximize available aid, correct errors and identify any funding gaps. It also gives families more time to compare aid offers and evaluate options for covering remaining college costs, like payment plans or private loans.

Why families should file the FAFSA as soon as possible

Although the federal FAFSA deadline for the 2027-2028 school year isn’t until June 30, 2028, there are several reasons to submit your application now. For starters, some states have submission deadlines long before before the federal deadline, while others close once slots are filled. Individual schools and institutions also have their own application deadlines. 

Additionally, while federal aid is available through June 2028, state and institutional aid often run out earlier due to limited funding. Filing early can increase your odds of receiving aid before funds are depleted.

“As the weeks and months go by, colleges are reviewing their financial aid budgets, and if they’re spending money faster than they anticipated, they might adjust their awarding policies so that financial aid policies become less generous,” says Shannon Vasconcelos, senior director at Bright Horizons College Coach.

Filing early can also give your family more time to correct any errors or submit additional documentation if requested, as well as identify any funding gaps before tuition is due. 

How filing early can help families prepare for college costs

“There’s really no advantage to waiting. The sooner you file, the sooner you can understand what college may actually cost your family and what resources may be available,” says Adam Smith, Vice President for Enrollment at Ohio Wesleyan University. 

Once your FAFSA is filed and processed, you’ll receive your aid offers and can compare award letters. Once you know exactly how much grant aid, scholarships, work-study and federal loans you’re eligible for, you can decide whether additional funding sources are needed.

Doing this early gives you more time to explore additional options for covering those costs, such as savings, tuition payment plans or private loans.        

What families can do right now to maximize their aid 

The best way to maximize your aid is by completing your FAFSA fully and accurately and submitting it as soon as possible. This prevents delays and helps you qualify for any state or institutional aid programs that are first come, first served.

You might also qualify for more aid if your circumstances change. For instance, if your family’s income has decreased since the tax year used on your FAFSA, you can contact the financial aid office and submit a special circumstances appeal. 

Ultimately, there’s no single trick to maximizing your federal aid. “Families should answer each question based on their circumstances rather than trying to determine which answer might result in more aid," says Candida Oxendine, Deputy Dean of Financial Aid and Enrollment Operations at Colby College. 

Common FAFSA mistakes that can slow down aid

• Waiting until the last minute to file: “If a mistake is flagged after an early submission, families have time to revisit the application and resubmit, whereas a last-minute submission paired with a mistake can be detrimental,” Elliott says.
• Entering incorrect information: Double check your information before submitting, complete all sections fully and represent your situation truthfully. “If something filed on a FAFSA doesn’t match the student’s records at the school, it can prohibit the financial aid team from completing the student’s financial aid package,” says Aimee Huffstetler, Vice President for Enrollment Management at Gwynedd Mercy University. 
• Missing a required contributor: Make sure that all required contributors (usually the student and either one or both parents, depending on the situation) have verified StudentAid.gov accounts and have submitted their respective sections.
• Ignoring emails and follow-up requests: Students should monitor their emails after filing and respond to any requests promptly to avoid delays. 
• Assuming you don’t qualify: “One of the biggest mistakes families can make is not submitting a FAFSA at all. It never hurts to submit one, as there are no set income limits and the application is free,” Elliott says. Submitting your FAFSA is the best way to see what grants, scholarships, federal loans and work-study opportunities are available to you, even if you don’t qualify for need-based aid.

What if financial aid doesn't cover the full cost?

If your financial aid package still leaves you with out-of-pocket costs, start by speaking with your school’s financial aid office to explore all your options. It’s especially important to reach out to your school if your financial situation has changed in the past year, as you might qualify for more aid than you initially were approved for. 

Next, explore other options like outside scholarships, tuition payment plans and work-study programs before taking on additional debt. Your financial aid office can help you with this process.

If you do need to borrow additional funds, there are federal and private loan options available. Federal loans are subject to lower annual caps than private loans, with undergraduate limits ranging from $5,500 to $12,500 per year, depending on your circumstances. 

When private loans make sense for students

Many families turn to private loans when federal loans and other funding don’t cover the full cost of attending school. “A private loan can be a good route if you have strong credit and can qualify for a lower interest rate, if you prefer flexibility in your rate structure, if you plan to repay quickly or if the [federal student loan] cap simply won't cover what you need,” Elliott says.

While private loans can cover costs that federal aid does not, they usually don’t offer the same benefits as federal loans, such as income-driven repayment or loan forgiveness. That’s why it’s important to understand the interest rate, repayment terms and long-term costs when borrowing. 

“If possible, borrowers should try to make interest payments on their loans while still in school to prevent the interest from capitalizing or getting added to the total loan principal balance,” Elliot says.

Bottom Line

Filing your FAFSA early gives you more time to correct any issues, maximize your funds and make a plan if aid doesn’t cover all your costs. If grants, scholarships and federal loans aren't enough, talk to your school’s financial aid offers to explore additional options. Private loans are one way to cover any funding gaps, but make sure to compare lenders’ rates and payback terms before taking on more debt. 

FAQs

What's new on the 2027-28 FAFSA?

The 2027-2028 FAFSA form has some changes designed to help streamline the filing process. These changes include real-time FAFSA results with instant access to Federal Pell Grant eligibility and Student Aid Index (which estimates your eligibility for need-based aid), pre-populated fields for returning applicants or their siblings, and a QR code to invite parents and spouses to fill out their forms.  

When should I fill out the FAFSA for 2027-2028?

The sooner, the better. The 2027-2028 FAFSA form opened in September 2026 and is available through June 2028. However, many states and institutions have limited funding or priority deadlines, so filing earlier could help you qualify for the most possible amount. 

Will FAFSA still be available in 2027?

Yes, FAFSA will still be available in 2027 and the 2027-2028 application is open now. 

Is FAFSA first come, first served?

Federal aid is not first come, first served, and is available through the filing deadline of June 30, 2027. However, some state and institutional aid is first come, first served, and funds can run out early depending on the program.

When does the 2027-2028 FAFSA open?

The 2027-2028 FAFSA form opened on September 23, 2026, and is open until June 30, 2028.