Parents familiar with the federal financial aid process know that Jan. 1 has historically been the first day to file Free Application for Federal Student Aid (FAFSA) submissions. But thanks to changes announced last year, millions of incoming college students will now be able to file starting Oct. 1 instead. In addition to the earlier filing time frame, applicants will be required to report income from an earlier tax year.
According to the U.S. Department of Education (DOE), the new time frame is better aligned with the college application process and reduces the need to estimate income information.
When a student is attending college (school year) | When a student can submit a FAFSA | Income and tax year information required | |
Previous process | July 1, 2016–June 30, 2017 | Jan. 1, 2016–June 30, 2017 | 2015 |
New process | July 1, 2017–June 30, 2018 | Oct. 1, 2016–June 30, 2018 | 2015 |
July 1, 2018–June 30, 2019 | Oct. 1, 2017–June 30, 2019 | 2016 |