2027-28 FAFSA Opens in Late September, Officials Urge Students to File Early for Maximum Aid

The 2027-28 Free Application for Federal Student Aid, known as the FAFSA, opened in late September 2026, and federal officials are urging students and families to complete it as soon as possible.

Filing early matters because some financial aid, including state grants and institutional scholarships, is distributed on a first-come, first-served basis. Students who wait until spring to file may find that some funds have already been awarded.

The Education Department also announced in September that it is extending a 1% interest rate discount for certain borrowers through the end of 2026. The discount applies to borrowers who meet specific repayment criteria and had been set to expire earlier in the year.

The FAFSA determines eligibility for federal Pell Grants, subsidized loans, work-study programs, and many state and college-based aid programs. Completing it is the first step in the financial aid process for most students.

CNBC and other financial outlets reported on the opening of the application window, noting that the 2026-27 FAFSA cycle had been marked by technical problems and delays that left many students without aid information well into the spring. Officials said they have worked to address those issues for the new cycle.

Students need their family's tax information to complete the FAFSA. The application uses an IRS data link that can pull tax information automatically, simplifying the process for many families.

High school seniors applying to college for fall 2027 should complete the FAFSA as soon as possible. Current college students who plan to return for the 2027-28 academic year should also file promptly to maintain their aid eligibility.