FAFSA Opened October 1: What Families Need to Know

FAFSA Opens October 1 for the 2026–27 School Year

The Free Application for Federal Student Aid (FAFSA) for the 2026–27 academic year officially opens on October 1. As a father of a couple college graduates and a current Penn State freshman, FAFSA is not something to overlook. If you already submitted your application during the recent beta period, you’re all set—no need to file again when the form goes live.¹

What You Should Know

Who Can Apply

Anyone pursuing an undergraduate, graduate, or professional degree can submit the FAFSA. There’s no income limit—everyone is encouraged to apply.¹

Important Deadlines

The federal deadline to submit is June 30, 2026, but many colleges have earlier priority dates for their own aid programs—sometimes as early as January. Be sure to check with each school for their specific deadline.¹

What to Gather Before You Start

• A StudentAid.gov account

• 2024 tax returns

• Child support records (if applicable)

• Current cash and bank account balances

• Social Security numbers for all contributors¹

FAFSA Updates to Know

Some assets no longer need to be reported, including:

• Small family-owned businesses

• The family’s primary-residence farm

• Family-owned commercial fishing businesses¹

Policy Changes Coming

Beginning July 1, 2026, new federal borrowing rules will apply to loans first disbursed on or after that date. Highlights include:

• Grad PLUS Loans will be eliminated

• Parent PLUS Loans will have new borrowing caps
  Students with loans disbursed before this date will follow the previous rules for a limited time.¹

How to Get Started

Visit StudentAid.gov to create your account and complete the FAFSA starting October 1. If you already filed during the beta window, you don’t need to resubmit.¹

^{1. CNBC.com, September 8, 2025}