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Filling out the Free Application for Federal Student Aid (FAFSA®) can be one of the most important steps in paying for college. Completing the form accurately and on time can unlock access to federal grants, work-study opportunities, and student loans. Many states and individual colleges also rely on FAFSA information to determine eligibility for their own need-based and merit-based scholarships and grants.
Recent updates have significantly simplified the FAFSA, so the process can feel more accessible — especially for first-time applicants and their families. This guide walks you through what you need to know, from gathering the right documents before you begin to what to expect when completing the application online.
Key Points
• The FAFSA for the 2027-2028 school year is open, and submitting it early is strongly recommended for maximizing financial aid eligibility.
• Applicants must consent to the IRS Direct Data Exchange to automatically import 2025 federal tax information directly into the FAFSA.
• Both the student and parent contributors (if dependent) must create a StudentAid.gov account to complete and sign the form.
• The Student Aid Index (SAI) is used by colleges to determine aid eligibility.
• The FAFSA allows students to list up to 20 colleges on their application.
Completing the FAFSA for the 2027-2028 Academic Year
The FAFSA for the 2027-2028 school year determines financial aid eligibility for students attending college between July 1, 2027 and June 30, 2028. The application typically opens in the fall of the prior year, allowing students and their families ample time to prepare and submit their information.
However, because some types of financial aid are awarded on a first-come, first-served basis, it’s strongly recommended to complete the FAFSA as early as possible. Submitting early can increase your chances of receiving the maximum amount of aid you may qualify for and make it easier to pay for college.
đź’ˇ 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.
Documents You’ll Need to Fill Out the FAFSA
Before starting the online FAFSA form, it’s helpful to gather all required documents in advance. Having this information ready can make the process smoother, faster, and less stressful while reducing the likelihood of errors or delays.
Information and documents you may need to complete the FAFSA include:
• Your Social Security Number
• Your Alien Registration Number (A-Number), if you’re not a U.S. citizen
• Federal income tax returns
• 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 classified as a dependent student, your parents will also need most of the same information for their portion of the FAFSA.
9 Steps to Filling Out the FAFSA
Below are the key steps to completing the FAFSA online for the 2027-2028 school year.
1. Create a StudentAid.gov Account
Before you can begin the FAFSA for the first time, both you and your parent(s), if required, must create a StudentAid.gov account. This account provides a username and password that allows you to securely log in, complete the FAFSA electronically, and sign the form digitally.
2. Start a New FAFSA Form
To begin, navigate to the FAFSA application page and select “Start New Form.” You’ll be prompted to log in using your StudentAid.gov account credentials. After logging in, you’ll select “Student” to indicate that you are completing the form as the student applicant.
3. Enter Your Personal Information
You’ll be asked to provide basic personal details, including your full name, date of birth, Social Security number, and contact information. It’s important to double-check all entries for accuracy, as errors in this section can cause processing delays or issues matching your information with official records.
4. Provide Background
This section is designed to gather personal information and determine if you’re a dependent or independent student for financial aid purposes. If you’re classified as a dependent student, you’ll need to include both your financial information and your parent’s information.
Being a dependent student does not mean your parents are required to pay for your education, but it does affect how your financial aid eligibility is calculated.
5. Complete the Financial Information Section
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) using the IRS Direct Data Exchange. For the 2027–2028 FAFSA, the form uses 2025 federal tax information. Once consent is given, relevant tax data will automatically populate your application, helping to save time and reduce errors and omissions.
You’ll also need to report information about your financial assets, such as cash in bank accounts and any investments you own. If you are married, your spouse’s financial information may also be required. Do not include your parents’ assets in this section — they will provide their information separately in their portion of the FAFSA.
6. Provide List of Colleges
You can list multiple colleges on your FAFSA (up to 20), and each school you include will receive your financial information to determine your financial aid package. Even if you haven’t finalized your college decision, it’s wise to include all schools you’re seriously considering.
You can add or remove schools later if your plans change. Importantly, colleges cannot see which other schools you’ve listed on your FAFSA.
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7. Invite Parent Contributors (If Required)
If you are a dependent student, you’ll need to invite your parent(s) to complete their portion of the FAFSA. This is done by providing their email address, which triggers an invitation allowing them to access the form. You can now also send a text message to invite them.
If your parents are married and file a joint tax return, only one parent needs to fill out the FAFSA. If they are married but filed separately, both parents are contributors. If your parents are divorced or separated and do not live together, the parent who provided more financial support during the past 12 months is the required contributor.
8. Review and Submit your FAFSA
Before submitting, carefully review all responses to ensure everything is accurate and complete. You’ll then acknowledge the terms and conditions, provide your electronic signature, and submit your section of the form.
If a parent or another contributor is required, the FAFSA will not be processed until all contributors have completed and signed their respective sections. Once all signatures are submitted, your FAFSA is considered complete.
9. Review Your Submission Summary
One to three days after submitting your completed FAFSA, you’ll typically receive a FAFSA Submission Summary. This document summarizes your responses and provides a basic estimate of your eligibility for federal student aid. It also includes your Student Aid Index (SAI), which colleges use to determine your eligibility for Federal Pell Grants and other federal, state, and institutional aid programs.
💡 Quick Tip: Even if you don’t think you qualify for financial aid, you should fill out the FAFSA form. Many schools require it for merit-based scholarships, too.
What’s Different About the 2027-28 FAFSA
The U.S. Education Department launched the latest FAFSA for the 2027-28 school year with changes that include:
• Clearer language: Instructions and questions were revised to remove jargon that could confuse students and families.
• Text invitations: Students can now invite contributors via text message as well as email.
• Real-time intel: Students can receive Pell Grant and federal aid eligibility in real time.
• Streamlined family information: Parents with multiple children applying for federal aid will be able to share information across FAFSA applications versus reentering for each child.
The Takeaway
Completing the FAFSA can be a critical step in securing financial aid for college. FAFSA updates have made the application more streamlined, but it still requires careful attention to detail. By following these nine steps, from creating your StudentAid.gov account and gathering required documents to inviting parent contributors and reviewing your submission, you can navigate the process with confidence and submit your FAFSA as early as possible to determine which aid you may qualify for.
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 is the #1 most common FAFSA mistake?
One of the most common FAFSA® mistakes is failing to submit the form early enough. While the federal deadline for the FAFSA is generally late, state and college-specific deadlines are often much earlier, and some aid is awarded on a first-come, first-served basis. Submitting the FAFSA as close to its opening date as possible (typically October 1st of the prior year) maximizes your chances of receiving the most aid.
Are parents or students supposed to fill out FAFSA?
Both students and parents may need to fill out the FAFSA®, depending on the student’s dependency status. The student is responsible for starting and submitting the application using their own Federal Student Aid (FSA) ID. If the student is considered dependent, a parent must also provide financial information and sign the form with a separate FSA ID, which is common for undergraduates applying for aid.
What three things will you need to fill out the FAFSA?
While several documents are helpful, three crucial items are typically needed to fill out the FAFSA:
• Social Security number: Your valid Social Security number is required. (If you are not a U.S. citizen, you may need your Alien Registration Number.)
• Federal income tax information: You’ll need information from your federal income tax returns from the relevant tax year, which can be transferred using the IRS Direct Data Exchange.
• Records of other income and assets: This includes information on current balances of cash, bank accounts, investments, businesses, and/or farms. You may also need records of untaxed income received, such as child support.
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