What to Know
- The FAFSA deadline for the 2022-23 academic year is June 30
- Filling out the FAFSA makes you eligible for multiple government and college-specific loans and grants
- Students starting in the fall of 2023 should consider filling out the FAFSA ASAP to get priority consideration
A major deadline is fast approaching for college students.
The Free Application for Federal Student Aid, or FAFSA, allows you to be considered for federal student aid, and is sometimes used by colleges to award their own grants, scholarships, and loans.
For the current 2022-23 academic year, the deadline to fill out this form is fast-approaching: June 30th, 2023. While this is the federal deadline, individual states and colleges may have their own institution-specific deadlines.
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Students starting classes in the fall of 2023 should submit their FAFSA as soon as possible to make sure they get priority consideration for all forms of financial aid.
Filling out the FAFSA makes you eligible for grants like the Pell Grant, a need-based grant provided by the government. Unlike a loan, this grant does not need to be paid back. It's important to remember that current New York college students may still be eligible for a partial and full Pell Grant if their classes are still in session.
Other types of loans and grants you become eligible for if you fill out the FAFSA include: the federal work-study programs, the Federal Supplemental Educational Opportunity Grant, and more listed here.
News
With this deadline looming, LendingTree, an online loan marketplace, has released a report analyzing the changes in FAFSA application over the last three years.
According to LendingTree's New York specific date, the number of FAFSA submissions in the 2023-24 academic year is on track to be 26.1% lower than the 2021-22 academic year. The New York drop off is the 10th steepest in the nation, with a 20% drop off for dependent students and a 39% drop off for Independent students. The country-wide drop in applications is 21.6%. You can find the full report here.
You can fill the form on the Federal Student Aid website here.
