Sooner is better when filling out FAFSA
A key date is approaching for high school seniors looking to pay for college.
Most schools recommend that the Free Application for Federal Student Aid (FAFSA) be completed no later than March 1, 2022, to enroll for the Fall 2022 semester. Filling out the form unlocks access to grants, scholarships, loans, and other forms of aid to help pay for a degree.
“Some financial aid funds are limited, and schools award on a first-come, first-served basis,” said Timothy Opgenorth, director of financial aid at UW–Milwaukee. “Early completion can mean more funds are available to a student.”
The form for the 2022–23 school year opened on October 1, 2021. After a decline nationally in the number of high school seniors filling out the FAFSA in 2020–21 during the pandemic, early numbers indicate the trend may be reversing.
According to the National College Attainment Network, the number of high school seniors filling out a FAFSA was up 0.6% as of January 21, 2022, a slight uptick compared to the same date during the previous academic year. Wisconsin applications were up 0.4%.
M3 (pronounced “M-cubed”) has joined educational institutions and advocacy groups across the country over the past year to encourage high school seniors and their families to take the important step of completing the FAFSA. The early upward trends offer cautious optimism that outreach efforts may be working. The return to in-person learning in most school districts also means that college and financial aid counselors may be able to connect more easily with students needing help filling out a FAFSA.
“Completing the FAFSA and submitting requested documents to the financial aid office in a timely manner is extremely important,” Opgenorth said. Students should pay close attention to deadlines set by colleges and universities so financial aid packages can be calculated and reach students no later than May 2022.
“This allows students and/or parents to discuss and line up other funding to ensure the bill is covered by the time the semester starts,” Opgenorth said.
While early FAFSA completion is recommended, later submissions do not mean that financial aid will be unavailable. MATC recommends completing the FAFSA by June 30 for the upcoming academic year to allow for ample processing time.
“Keep in mind that certain scholarships and programs that require FAFSA completion have their own deadlines,” said Marwill Santiago, manager of recruitment for MATC. For example, MATC Promise for New High School Graduates has a July 15 FAFSA completion deadline for the 2022–2023 school year.
Ericca Pollack, College and Career Center Coordinator at MPS, reminds seniors to keep track of various college and university deadlines, and to pay special attention to scholarships that all follow different timelines.
After the FAFSA is completed, students will receive their financial aid packages directly from the college or university they plan to attend. “Students need to regularly check their student portal or college-assigned email address for important updates, including additional documents that may be required,” Pollack said.
Below are some helpful online resources for students.