US opens FAFSA applications for student financial aid early — CNBC

In the United States, the Department of Education on September 23 opened applications for the Free Application for Federal Student Aid (FAFSA) for the 2027–2028 academic year — earlier than the expected October 1 launch date. Through FAFSA, applicants and their families can qualify for federal grants, work-study programs and student loans.

As CNBC reports, states and educational institutions also use data from the application, including information on family income and assets, to determine financial aid offers. Some of this support is allocated on a first-come, first-served basis or within a limited budget.

Advantage of applying early

Rick Castellano, a spokesperson for the financial institution Sallie, said the early opening of FAFSA allows families to understand sooner what aid they can expect. According to him, this is particularly important given changes in the terms for receiving Pell Grants and federal lending.

More current news is available on the UA.News Telegram channel Telegram.

The new version of the FAFSA form, launched in late December 2023, simplified the application process and allowed families to receive an estimate of their eligibility for federal aid. Starting this year, provisions of President Donald Trump’s law limit the amount of federal loans that students and their families can receive to pay for college or graduate school. The law also establishes new conditions for the Pell Grant, an aid program for low-income students.

Financial aid for education

The cost of education is the biggest barrier to enrolling in college, according to a Lumina Foundation and Gallup survey. It involved 14,000 adults without a degree or studying to obtain one, nearly 6,000 college graduates and 2,000 employers. An increasing number of colleges and universities charge more than $100,000 per year for tuition.

According to the Sallie How America Pays for College report, about 74% of students and their families submitted FAFSA applications for the 2025–2026 academic year. Grants, including the Pell Grant, are considered the most valuable type of support because these funds generally do not have to be repaid.