Close Menu
  • Home
  • Finance News
  • Personal Finance
  • Investing
  • Cards
    • Credit Cards
    • Debit
  • Insurance
  • Loans
  • Mortgage
  • More
    • Save Money
    • Banking
    • Taxes
    • Crime
What's Hot

Listener Q: Can I Afford Assisted Living?

March 1, 2026

25 passive income ideas to help you make more money

March 1, 2026

China holiday spending sends a strong signal on consumer stimulus plans

March 1, 2026
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
Smart SpendingSmart Spending
Subscribe
  • Home
  • Finance News
  • Personal Finance
  • Investing
  • Cards
    • Credit Cards
    • Debit
  • Insurance
  • Loans
  • Mortgage
  • More
    • Save Money
    • Banking
    • Taxes
    • Crime
Smart SpendingSmart Spending
Home»Finance News»Why it helps to file early
Finance News

Why it helps to file early

November 20, 2024No Comments3 Mins Read
Facebook Twitter LinkedIn Telegram Pinterest Tumblr Reddit WhatsApp Email
Why it helps to file early
Share
Facebook Twitter LinkedIn Pinterest Email

This week, the new Free Application for Federal Student Aid expanded its “phased rollout” so all students can now apply for aid for the upcoming academic year.

Up until Monday, the 2025-26 FAFSA was only available to limited groups of students in a series of beta tests that began on Oct. 1.

Now, the form is open to all and the Department of Education has said it will be out of testing entirely by Nov. 22 — which puts the official launch ahead of schedule. Since Monday, more than 50,000 forms have been successfully submitted, according to a department official.

Typically, all students have access to the coming academic year’s form in October, but last year’s new simplified form wasn’t available until late December after a monthslong delay.

This year, the plan was to be available to all students and contributors on or before Dec. 1.

Students who submit a form during this final “expanded beta” phase before Nov. 22 will not need to submit a subsequent 2025–26 FAFSA form, the Education Department said.

More from Personal Finance:
Here’s how to prepare for the FAFSA
Top 10 colleges for financial aid
More of the nation’s top colleges roll out no-loan policies

There are still some issues with the new form, some of which also plagued last year’s college aid application cycle, but they all have workarounds, according to higher education expert Mark Kantrowitz.

Altogether, this year’s rollout is “much better than last year,” he said. 

Last year, complications with the new form resulted in some students not applying at all. Ultimately, that meant fewer students went on to college.

See also  How to File Your Taxes for Uber, Lyft and Other Popular Gig Apps

Why it’s important to file the FAFSA early

“Students should take full advantage of the early rollout and submit their FAFSA as soon as possible,” said Shaan Patel, founder and CEO of Prep Expert, which provides Scholastic Aptitude Test and American College Test preparation courses.

The earlier families fill out the form, the better their chances are of receiving aid, since some financial aid is awarded on a first-come, first-served basis, or from programs with limited funds.

“The earlier you apply, the better your chances of securing more aid that doesn’t need to be repaid,” Patel said.

“Submitting early also means you’ll receive your financial aid award letters sooner,” he said. “This gives you ample time to compare offers from different schools and make an informed decision without feeling rushed. Finally, knowing your child’s financial aid status earlier reduces stress and allows your family to focus on other important aspects of college preparation.”

For many students, financial aid is key.

Higher education already costs more than most families can afford, and college costs are still rising. Tuition and fees plus room and board for a four-year private college averaged $58,600 in the 2024-25 school year, up from $56,390 a year earlier. At four-year, in-state public colleges, it was $24,920, up from $24,080, the College Board found.

The FAFSA serves as the gateway to all federal aid money, including federal student loans, work-study and especially grants — which have become the most crucial kind of assistance because they typically do not need to be repaid.

Submitting a FAFSA is also one of the best predictors of whether a high school senior will go on to college, according to the National College Attainment Network. Seniors who complete the FAFSA are 84% more likely to enroll in college directly after high school, according to an NCAN study of 2013 data. 

See also  What Trump, Harvard battle over international student visas may cost

Don’t miss these insights from CNBC PRO

Source link

Early file helps
Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
Previous ArticleI Have A Master’s, But Rising Costs Make Me Question College For My Kids
Next Article ‘This predatory business model is illegal’: Earnin sued by D.C. AG

Related Posts

China holiday spending sends a strong signal on consumer stimulus plans

March 1, 2026

Berkshire CEO Greg Abel vows to keep Buffett’s culture of disciplined investing in first annual letter

March 1, 2026

What to do after a sudden job loss

February 28, 2026
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Stocks making the biggest moves midday: DAL, RVMD, CNC

September 11, 2025

Sen. Blumenthal asks Visa for details on Elon Musk X payments deal

March 7, 2025

What CFPB’s open banking rule does to advance payment innovation | PaymentsSource

October 23, 2024
Ads Banner

Subscribe to Updates

Subscribe to Get the Latest Financial Tips and Insights Delivered to Your Inbox!

Stay informed with our finance blog! Get expert insights, money management tips, investment strategies, and the latest financial news to help you make smart financial decisions.

We're social. Connect with us:

Facebook X (Twitter) Instagram YouTube
Top Insights

Listener Q: Can I Afford Assisted Living?

March 1, 2026

25 passive income ideas to help you make more money

March 1, 2026

China holiday spending sends a strong signal on consumer stimulus plans

March 1, 2026
Get Informed

Subscribe to Updates

Subscribe to Get the Latest Financial Tips and Insights Delivered to Your Inbox!

© 2026 Smartspending.ai - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.