How is your FAFSA used to calculate your federal student aid eligibility
When you fill out your FAFSA, you’ll provide personal demographic information, as well as financial information, such as your family’s federal income tax returns, W-2 forms, bank statements, and information on your family’s investments.
This financial information is used to determine your Expected Family Contribution (EFC). Your EFC is an index number that colleges use to determine how much federal financial aid you’re eligible to receive. Your EFC is calculated according to a formula established by law and the information from your FAFSA.
Your eligibility for aid depends on your Expected Family Contribution (EFC), your year in school, your enrollment status, and the cost of attendance (COA) at the school you'll be attending. The COA is the estimated cost to attend for one academic year and, if you attend at least half time, can include tuition, books, supplies, transportation, room and board, and other education-related expenses.
When is the FAFSA due
October 1, 2021
Open date: The earliest you can file the FAFSA for the 2022-2023 academic year.
June 30, 2023
The federal deadline for filing the 2022-2023 FAFSA.
States and colleges have their own FAFSA deadlines. Be sure to check the FAFSA deadline for each college you’re applying to. You can check your state's deadline on the federal student aid website.