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As a student, you must submit a new Free Application for Federal Student Aid (FAFSA®) each school year to determine federal financial aid you qualify for, including grants, work-study programs, and student loans. Many colleges and states also use FAFSA information to award their own institutional and state-based aid, so skipping the FAFSA could mean missing out on thousands of dollars in free or low-cost funding.

The FAFSA for the 2026-2027 academic year opened on September 24, 2025, earlier than the traditional October 1 launch date. While the federal deadline to submit the FAFSA is June 30, 2026, it’s wise to complete the form as early as possible. Many states and schools award aid on a first-come, first basis and have much earlier deadlines.

What follows is a detailed guide to completing the 2026-2027 FAFSA.

Documents You’ll Need

Before you sit down to complete the online FAFSA application, gather the following documents and information to make the process smoother:

•   Your Social Security number

•   Your Alien Registration Number (A-Number), if you’re not a U.S. citizen

•   Your federal income tax return

•   Records of child support received

•   Current balances of cash, savings, and checking accounts

•   Bank statements and records of investments (if applicable)

•   Records of net worth of investments, businesses, and farms

•   Records of untaxed income (if applicable)

If you’re a dependent student, your parent(s) will need most of the same information to complete their portion of the FAFSA.

💡 Quick Tip: Fund your education with a competitive-rate, no-fees-required SoFi private student loan that covers up to 100% of school-certified costs.

How to Fill Out the FAFSA in 6 Steps

Ready to file the FAFSA? Most applicants complete the form in less than one hour, including the time needed to gather personal and financial information.

Here’s how to fill out the FAFSA step by step.

Step 1: Create an Account

Before completing the FAFSA online, you need to create a StudentAid.gov account. This account provides you with a username and password that allow you to securely log in, complete the FAFSA electronically, and sign the form digitally.

Any required contributor(s) must also create their own StudentAid.gov account. A contributor is anyone required to provide consent and financial info for your FAFSA, such as a parent, stepparent, or spouse. Contributors are not required to pay for your college education, but their financial information may be necessary.

Step 2: Provide Personal Information

After logging in, select “student” to indicate that you are completing the form as the student applicant.

You’ll begin by reviewing and confirming basic personal information, including:

•   Name

•   Date of birth

•   Social Security number

•   Email address

•   Mobile phone number

•   Mailing address

Next, you’ll answer questions about your personal circumstances, such as whether you are a veteran, have dependents of your own, or are a legally emancipated minor. These questions determine whether you’re classified as a dependent or independent student for financial aid purposes.

You’ll also be asked about:

•   Race and ethnicity (used for research purposes only and not factored into your aid eligibility)

•   State of residence

•   Parent education status

•   High school information

•   Any federal benefits you or your family members have received

Step 3: Add Student Financial Information

To be eligible for federal student aid, you must provide consent for the FAFSA to import your tax information directly from the Internal Revenue Service (IRS) through the IRS Direct Data Exchange. The 2026–2027 FAFSA uses 2024 federal tax information. Once you give consent, your relevant tax information will automatically populate the form.

You’ll also need to report:

•   Your tax filing status (e.g., single or married filing jointly)

•   Any child support you received

•   Your financial assets, such as cash in bank accounts and investments you own

Do not include your parents’ financial assets in this section. Those will be reported separately by your parent(s). If you are married, your spouse’s financial information may also be required.

Step 4: Select Colleges

Next, choose the colleges, universities, and career schools you’re considering. You can list up to 20 schools where you want your FAFSA information sent. Schools can be searched by name, city, and state or school code.

Recommended: How Many Colleges Should I Apply To?

Step 5: Review and Sign

You’ll then review the terms and conditions of the FAFSA, confirm that all the information you provided is accurate to the best of your knowledge, and electronically sign the application. Once signed, your portion of the FAFSA is complete. However, the entire form isn’t officially submitted until all required contributors (like parents or spouses) also complete and sign the form.

Step 6: Parents Add Information

If you’re a dependent student, you must invite your parent(s) to complete their portion of the FAFSA. You’ll do this by providing their email address, which sends them an invitation to access the form.

If your parents are married and filed a joint tax return, only one parent needs to fill out the FAFSA. If they’re married but filed separately, both parents are contributors. If your parents are divorced or separated and live apart, the parent who provided the most financial support during the past 12 months is the required contributor.

Parents will need to provide contact information, household size details, the number of family members attending college, and any federal benefits received. They’ll also consent to import tax data from the IRS and report financial assets, including:

•   Total balances of checking and savings accounts

•   Total value of investments, minus debts.

•   Current value of businesses or farms, minus debts

Retirement accounts — such as 401ks, IRAs, and pensions — should not be included on the FAFSA. After reviewing their information, parents will sign and submit the form.

Recommended: Quick FAFSA Tips and Mistakes to Avoid

If You Need Additional Help Filling Out the FAFSA

If you need assistance, click the white question mark icon next to any FAFSA question to view guidance. You can also visit the FAFSA Help Center, watch the FAFSA tutorial video, or chat with Aidan, the virtual assistant within the application.

Additional help is available through the Federal Student Aid Information Center, our FAFSA guide, or the financial aid office at the college or career school you plan to attend.

What Happens After You Submit the FAFSA?

Within one to three days of submitting your FAFSA, you’ll receive a FAFSA Submission Summary. This document summarizes your responses and includes your Student Aid Index (SAI), which schools use to calculate your financial aid eligibility.

Each college you listed on your FAFSA and are accepted to will send you a financial aid award letter. This may include federal aid such as:

•   Direct Subsidized Loans

•   Direct Unsubsidized Loans

•   Work-Study

•   Pell Grants

•   TEACH Grants

•   Federal Supplemental Educational Opportunity Grants (FSEOG)

Who Should Complete the FAFSA?

Almost every student planning to attend college or graduate school should complete the FAFSA. This includes students from middle- and high-income households, part-time students, and those who believe they won’t qualify for federal aid.

Many scholarships, grants, and institutional aid programs require a complete FAFSA regardless of income level. Even if you don’t qualify for need-based grants, you may still be eligible for federal student loans, work-study opportunities, or school-specific financial assistance. Completing the FAFSA ensures you don’t miss out on any funding options available to you.

What If I Don’t Qualify for Any or Enough Aid?

If your financial aid offer doesn’t fully cover your education costs, you still have several options. You can appeal your financial aid award if your family’s financial situation has changed due to circumstances such as job loss, medical expenses, or other unexpected hardship.

You can also apply for private scholarships and grants, which are offered by organizations, employers, and nonprofits and don’t need to be repaid. In addition, working part-time during the school year or over the summer can help offset education and living expenses.

Private student loans are another option for covering remaining costs. However, they should be used carefully since they often have higher interest rates and offer fewer repayment protections than federal student loans.

The Takeaway

Completing the FAFSA application doesn’t have to be overwhelming. In most cases, the application takes less than an hour from start to finish. By following this step-by-step guide, you can confidently submit your FAFSA and understand what types of financial aid you may be eligible to receive for the upcoming school year.

If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.

FAQ

What’s the due date for the FAFSA?

The FAFSA opens on October 1st each year for the following academic year. For the 2026–2027 academic year, the FAFSA opened early (in September 2025). The federal deadline is June 30, 2027. However, be aware that many states and individual colleges have much earlier deadlines, so it’s always best to complete the FAFSA as soon as possible.

Can I fill out the FAFSA myself?

Yes, you can fill out the FAFSA yourself by visiting the official StudentAid.gov website. The online application is designed for the student to begin the process, and this is generally the fastest and most accurate way to submit the form. Whether you can complete the FAFSA form using only your information depends on your dependency status. If you are considered to be a dependent student for financial aid purposes, you’ll need to invite your parent(s) or other required contributor(s) to complete their own section of the FAFSA, providing their financial information and consent.

How long does it take to fill out the FAFSA?

The FAFSA form typically takes most applicants less than one hour to complete from start to finish, including the time spent gathering necessary documents. Gathering information like tax returns, Social Security numbers, and asset information beforehand can reduce the time to 30 minutes.

What disqualifies you from getting FAFSA?

Certain factors can disqualify an applicant from receiving federal student aid through the FAFSA. These include:

•   Not being a U.S. citizen or eligible noncitizen

•   Not having a high school diploma or equivalent

•   Not providing consent and to have your federal tax information transferred directly into form

•   Having defaulted on a federal student loan.

Additionally, maintaining satisfactory academic progress (SAP) is usually a requirement for continued aid eligibility.

SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.

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Applying for a student loan consolidation can take approximately 30 minutes for borrowers who have their financial information on hand, according to the Federal Student Aid website. Repayment of the consolidated loan usually begins within 60 days after the loan is disbursed.

When you need to simplify your monthly student loan payments, you don’t want to waste a minute. Let’s cover the definition of consolidation, examine how long it takes to consolidate student loans, and go over the steps in the student loan consolidation process. We’ll also discuss whether it’s possible to speed up how long student loan consolidation takes.

What Is Student Loan Consolidation and How Does It Work?

“Consolidation” is just a fancy word for combining, and that’s a great first step to understand how student loan consolidation works. If you have multiple federal loans, you can combine them into a single loan using a Direct Consolidation Loan. After a free application process, consolidation gives you a single monthly payment instead of multiple bills.

A Direct Consolidation Loan may lower your monthly payment by giving you a longer repayment period (up to 30 years) or access to income-driven repayment plans — but not by lowering your interest rate. The rate you receive will be a weighted average of your prior loan rates, rounded up to the nearest ⅛ of a percent.

You can consolidate most federal student loans, including the following:

•   Direct Subsidized Loans

•   Direct Unsubsidized Loans

•   Direct PLUS Loans

•   Parent Loans for Undergraduate Students

Check the Federal Student Aid website for a complete list of qualified loans.

How do you consolidate your student loans?

•   Gather your loan records, account statements, and bills so you have everything in front of you to complete the Direct Consolidation Loan Application and Promissory Note.

•   Fill out borrower information, such as your name, address, and Social Security number, as well as the names of two adult references.

•   Next, you’ll enter the loans you want to consolidate (including requested information and codes) as well as the loans you don’t want to consolidate.

•   You’ll also walk through how you want to repay your loans and review the borrower understandings, certifications, and authorizations. Finally, sign the note, which promises that you’ll repay your loans.

How Long Does Student Loan Consolidation Take?

The federal Direct Consolidation Loan application process takes approximately six weeks from the day it is submitted. Consolidating private student loans — called refinancing – typically takes less time. Read on for details.

Federal Loans

Federal student loans come from the federal government through the U.S. Department of Education. Terms and conditions are set by law, including the interest rate.

To consolidate federal student loans, you first must fill out the Federal Direct Consolidation Loan Application and Promissory Note, which should take about 30 minutes to complete. From there, the process of consolidation takes approximately six weeks. Borrowers can check the status of their application at StudentAid.gov.

Until the consolidation process is complete, you must continue to make payments on your current loans. Once the servicer determines your loans are eligible for consolidation, you may begin paying your new loan instead.

Private Loans

Private student loans, unlike federal student loans, originate from a private lender — a bank, online lender, or credit union. You cannot change private student loans into federal student loans through the federal loan consolidation process. You also cannot consolidate private and federal student loans together.

However, you can refinance private loans. Refinancing means switching to a private lender to get a better rate or term. You can refinance a single loan or combine a number of loans to give you one new loan.

Refinancing federal student loans means that all of your loans become private loans. As a result, you lose access to federal student loan benefits like interest rate discounts and loan cancellation benefits. (You can learn more about the pros and cons in our student loan refinancing guide.)

Refinancing with a private student loan lender typically takes less time — sometimes just a few business days. However, this timeline can be longer if additional documentation is needed or if you have a coapplicant. In these cases, the timeline can vary depending on the lender and the time it takes the borrower to gather and submit the documents.

Recommended: Consolidating vs. Refinancing Student Loans

Is There Any Way to Accelerate the Student Loan Consolidation Process?

Unfortunately, you cannot accelerate the federal student loan consolidation process.

You may want to consider skipping the consolidation process altogether and refinance your student loans with a private lender, which will likely take less time. You can take a look at a student loan refinancing rate calculator to make sure it will financially work to your advantage.

Pros and Cons of Consolidating Student Loans

Why might you want to consolidate federal loans into a single federal Direct Consolidation Loan? Or why might you want to steer clear of consolidation altogether? Review the pros and cons below to get a better understanding of whether consolidating student loans is right for you.

Alternatives to Student Loan Consolidation

If you think it might take too long to consolidate your student loans or you just want a more options, you may have these alternatives available to you:

•   Deferment: If you can claim medical or financial hardship, or you’re back in school or between jobs, you may be able to pause your student loan payments through deferment.

•   Forbearance: Forbearance means that you won’t have to make a payment or that you’ll be allowed to make a smaller payment on your federal student loans.

•   Income-driven repayment plans: Income-driven repayment plans allow you to make payments based on your family size and income.

•   Modification: A student loan modification changes the terms and conditions of an existing student loan. Unlike consolidation, a modification means you keep the same loan but adjust it.

You might also consider keeping your plan and improving your financial situation in order to comfortably be able to make your payments. This will avoid the potential downsides of consolidation, like paying more in interest due to a longer loan term.

The Takeaway

If you’re tired of making multiple federal student loan payments, consolidation might be the answer. In general, the process takes about six weeks after submitting the application.

You may also consider student loan refinancing to help you manage your monthly payments. SoFi makes it easy to see what rates you may be eligible for. Plus, with SoFi, you can skip paying origination fees, application fees, and prepayment penalties.

FAQ

Does it take longer to consolidate federal or private student loans?

It typically takes six weeks to consolidate federal student loans — longer than refinancing — but you retain your federal benefits. If you’re uncertain whether you want to consolidate your federal student loans or refinance with a private student loan lender, consider shopping around before you make a final decision.

When can consolidating student loans make sense?

Consolidating can make sense if you want to reduce multiple student loans into one monthly loan payment. Additionally, if you want to lower your monthly payments, switch loan servicers, or change to a fixed-rate loan, consolidation might be worth exploring.

Why would you consolidate rather than refinance student loans?

When you’re weighing the pros and cons of consolidating vs. refinancing, it’s important to determine your goals. If simplification is your major goal, you may want to consolidate. Additionally, if you have federal student loans and don’t want to lose protections, it might be wise to forgo refinancing and instead opt for student loan consolidation.

About the author

Melissa Brock

Melissa Brock is a higher education and personal finance expert with more than a decade of experience writing online content. She spent 12 years in college admission prior to switching to full-time freelance writing and editing. Read full bio.

Photo credit: iStock/TanyaJoy

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Terms and conditions apply. SoFi Refinance Student Loans are private loans. When you refinance federal loans with a SoFi loan, YOU FORFEIT YOUR ELIGIBILITY FOR ALL FEDERAL LOAN BENEFITS, including all flexible federal repayment and forgiveness options that are or may become available to federal student loan borrowers including, but not limited to: Public Service Loan Forgiveness (PSLF), Income-Based Repayment, Income-Contingent Repayment, extended repayment plans, PAYE or SAVE. Lowest rates reserved for the most creditworthy borrowers. Learn more at SoFi.com/eligibility. SoFi Refinance Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).

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