FAFSA for 2027-28 School Year Opens as Student Loan Deadlines Hit SAVE Plan Borrowers
The 2027-28 FAFSA cycle opened in late September 2026, and financial aid experts are urging students to file early. At the same time, borrowers in the now-defunct SAVE repayment plan face 90-day deadlines to switch to a new plan after a court order ended the program in March. Missing the deadline could result in delinquency or default.
The 2027-28 FAFSA cycle opened in late September 2026, and financial aid experts are urging students and families to file as early as possible.
Many colleges and universities award limited financial aid on a first-come, first-served basis. Filing early increases the chances of receiving the maximum available grant and scholarship funding. The FAFSA is required for federal student loans, Pell Grants, and most institutional aid programs.
At the same time, borrowers enrolled in the SAVE income-driven repayment plan are facing urgent deadlines. A federal court order ended the SAVE program in March 2026, and borrowers have 90 days from receiving an exit notice to switch to a different repayment plan.
Borrowers who miss the deadline risk having their loans placed in delinquency, which can damage credit scores and eventually lead to default. The Department of Education has been sending exit notices in waves, meaning deadlines vary by borrower.
Financial advisers recommend that SAVE borrowers log into their studentaid.gov account to check their status and review available repayment options, including Income-Based Repayment, Pay As You Earn, and the standard 10-year plan.
Borrowers with questions can contact their loan servicer directly or reach the Federal Student Aid information center at 1-800-433-3243.
