Nearly 3 in 10 Families Skipped the FAFSA Last Year, Missing Out on Scholarships, Grants, and Federal Financial Aid
Sallie Mae Offers Free Tips and Tools to Help Students Access Billions in Aid, Some of Which Is Offered First-Come, First-Served or From Limited Sources
NEWARK, Del.–(BUSINESS WIRE)–The Free Application for Federal Student Aid (FAFSA), the key to accessing billions of dollars in scholarships, grants, and federal financial aid for college, is open early for the 2026–27 academic year, and completing it as soon as possible is one of the most important steps students and families can take to make higher education more affordable. Filing early means securing a place in line for federal, state, and school-based aid, some of which is limited and awarded on a first-come, first-served basis.
What’s New About the 2026-27 FAFSA
In addition to being available earlier, this year’s FAFSA features important updates, including a streamlined form, an upgraded, AI powered virtual assistant (Aidan) for faster, 24/7 help, real time identity verification, and a simplified contributor invitation that lets students add a parent or spouse by email, among other changes.
Misconceptions and Confusion Still Prevent Families From Filing
Nearly three in 10 families skipped the FAFSA last year — most often because they believed their income was too high to qualify, lacked the required information, or missed the deadline. As a result, critical financial aid, including millions in scholarships and $4.4 billion in Pell Grants, went unclaimed in 2024.
“The importance of completing the FAFSA truly can’t be overstated,” said Rick Castellano, vice president, Sallie Mae. “The government shutdown does not affect the FAFSA, so students should stay the course and complete the form as early as possible. Filing early not only maximizes eligibility for scholarships, grants, and other aid that can reduce college costs, but also provides families a clearer financial picture to make more informed decisions about planning and paying for higher education.”
Tips to help families complete the FAFSA:
- Get organized before you file – Review FAFSA requirements and gather necessary documents in advance so you’re ready to file early without delays. Our free FAFSA Guide walks families through what they’ll need and provides step-by-step guidance.
- Set up your FSA ID now – Both students and parents need an FSA ID to log in, complete, and sign the FAFSA. Creating an ID ahead of time makes it easier to start the process when you’re ready to file.
- Know your deadlines – Federal FAFSA deadlines are just one part of the financial aid picture. Many states and schools set earlier priority dates for aid consideration. Families should check deadlines for each state and school to avoid missing out on aid.
- File early even if you think you won’t qualify – Most families are eligible for some form of aid, and filing early increases the chances of receiving limited funds. Our free FAFSA webinars help families navigate the process, understand the facts, and get answers to common questions.
- File every year – The FAFSA must be completed every year to remain eligible. Many scholarships also require a completed FAFSA.
- Explore additional ways to save after you file – Each year is also a chance to explore new ways to save on college costs. Tools like Scholly Scholarships by Sallie help students find additional scholarships that match their interests and goals.
For more free resources to help families file the FAFSA, visit Sallie.com.
Sallie Mae (Nasdaq: SLM) believes education and life-long learning, in all forms, help people achieve great things. As the leader in private student lending, we provide financing and know-how to support access to college and offer products and resources to help customers make new goals and experiences, beyond college, happen. Learn more at SallieMae.com. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.
Category: Financial Literacy
Contacts
Caron Jackson
302.451.2541
[email protected]
