The 2023-2024 FAFSA opens for biz on Oct. 1

Note: Most foreign citizens are not eligible for federal student aid from the U.S. Department of Education.

The 2023-2024 Free Application for Federal Student Aid (FAFSA) opens this weekend and there are some very important things you need to understand about how this application works and why it is 100% worth your time to fill it out (even if you think you won’t qualify for anything). 

You must apply every. single. year. 

Just because you got financial aid this year does not mean you will be automatically renewed to get financial aid next year. You absolutely must submit a FAFSA for each year you wish to be considered for federal financial aid – grants, loans, and work-study.

You don’t know what you could get. 

Assume nothing. Think your family income will deter you from receiving aid? Think again. It’s just one piece of the puzzle. The number of children in your family attending college is also considered – among other things. Spend the 30 minutes it takes to apply to be considered for financial help. Federal student aid has more than $150 billion available to help pay for school. Get after it.

You don’t know when you might need it.

Life is complicated and stuff happens. Your financial situation can change over the course of the year and you may find yourself in need of help. Submitting a FAFSA will allow you to be considered for low-interest student loans that you can have access to if you need them. Remember, you can choose how much you want to accept, or you can decline the whole offer.. The important thing is to know what’s available if you end up needing it.  

It pays to be at the front of the line.

ASU’s priority filing date is Jan.15. Get your FAFSA completed early and it’ll be one less thing you have to worry about. Financial aid is first-come, first-served, and people who submit early maximize the amount of aid they’re eligible for. 

And remember:

• you’ll use tax information from 2021. If you or your family have experienced financial changes that aren't reflected in your 2021 taxes, Financial Aid and Scholarship Services can review your awards to see if you're eligible for more federal funding. Job loss, reduction in income, illness — if any of these circumstances have impacted your family's finances, visit the special circumstances page to learn about your options.

• you’ll need an FSA ID to log in and sign your FAFSA (a parent will also need one if you are using their tax info)

you can reference this Federal Student Aid site for frequently asked FAFSA questions, chat with a financial aid representative, or post your question (and review answers to other people’s questions) on Twitter using #askFAFSA