Free Application for 2025-26 Federal Student Aid Opens Dec. 1st.
This week, Craig Siminski, of CMS Retirement Income Planning, shares with us an article providing tips for submitting the redesigned Free Application for Federal Student Aid (FAFSA) for the 2025–2026 school year:
For the second year in a row, the Free Application for Federal Student Aid, commonly known as the FAFSA, will be delayed. The FAFSA for the 2025–2026 school year will open on December 1 instead of the typical October 1 date.
Last year, despite a redesigned FAFSA that was supposed to be easier to complete, families faced a perfect storm — a delayed rollout, technical glitches, and processing delays, which led to confusion and late financial aid packages from colleges. By one estimate, as of March 2024, FAFSA completions for the class of 2024 were down 40% from the prior year, with only about 27% of the class of 2024 successfully completing a FAFSA, compared to 45% for the class of 2023.
Tips For Submitting the FAFSA
The 2025–2026 FAFSA is the same as the redesigned, streamlined version from last year. Here’s what you need to know about completing the form:
FSA ID – To file the FAFSA online, parents and students each need their own FSA ID, which is a username/password combination that functions as a legal signature. You can create an FSA ID online, and the same ID can be used for all years of college.
Income and Assets – The FAFSA requires two key types of information: income and assets. For income, the 2025–2026 FAFSA will rely on information from your 2023 federal income tax return (it essentially looks back two years). This data will be automatically imported from the IRS. For assets, the FAFSA will use the value of your assets as of the date you submit the form.
Student Aid Index – The FAFSA calculates a figure called the “Student Aid Index,” which is a yardstick that measures aid eligibility. Colleges use this figure to craft a financial aid package that attempts to meet a student’s financial need (colleges are not obligated to meet 100% of need).
Eligibility for Direct Loans – All students who file the FAFSA are eligible for an unsubsidized federal Direct Loan, regardless of financial need. But students who demonstrate need on the FAFSA are eligible for a subsidized Direct Loan, which means the government pays…
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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 25 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.
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