The Free Application for Federal Student Aid (FAFSA) is a form used by current and prospective college students in the United States to determine their eligibility for financial aid. Completing the FAFSA is a crucial step for students seeking grants, loans, and work-study opportunities to fund their education. The form collects information about the student's and their family's financial situation, which is then used to calculate their expected family contribution (EFC). The EFC determines the amount of financial aid a student is eligible to receive. The FAFSA is available online and must be submitted annually. Many colleges and universities also require the FAFSA for institutional aid, making it essential for most students seeking financial assistance for higher education.
1965: Higher Education Act Establishes Federal Financial Aid
The 1965 Higher Education Act established the US government as the primary provider of student financial aid, laying the groundwork for the FAFSA.
1992: Standardized FAFSA Created
In 1992, the reauthorization of the Higher Education Act led to the creation of a standardized federal financial aid form (FAFSA) for all prospective students.
2008: Higher Education Act Requires Reporting of Financial Aid Recipients
The 2008 reauthorization of the Higher Education Act mandated that schools report data on financial aid recipients, aiming for increased transparency and equity.
2008: Higher Education Opportunity Act Authorizes Fee-Based FAFSA Preparation
The Higher Education Opportunity Act of 2008 authorized fee-based FAFSA preparation services, with regulations requiring transparency about fees and non-affiliation with the Department of Education.
2010: Student Aid and Fiscal Responsibility Act (SAFRA) Changes Drug Offense Penalties
In 2010, the Student Aid and Fiscal Responsibility Act (SAFRA) modified the criteria for suspending financial aid eligibility due to drug-related offenses. The penalties for possession were removed, while the penalties for the sale of controlled substances were increased.
2016: FAFSA Prevents Schools from Viewing Other Listed Institutions
In 2016, for the 2016-2017 academic year, the FAFSA was updated to prevent colleges from seeing other institutions listed on a student's application, addressing concerns about potential admission or financial aid bias.
2016: Final Year of January 1 FAFSA Availability
The 2016-2017 academic year marked the last time the FAFSA was made available on January 1st, before the shift to October 1 the following year.
2017: Continued Blind Listing of Schools on FAFSA
The FAFSA continued the practice of preventing colleges from viewing other listed institutions on the applications for the 2017-18 cycle and forward.
2017: FAFSA Availability Shifts to October 1
Starting in 2017 with the 2017-2018 academic year, the FAFSA became available on October 1st each year to better align with college application timelines.
2017: FAFSA Begins Using Prior-Prior Tax Year Information
Beginning with the 2017-2018 academic year, the FAFSA started using "prior-prior" tax year information (two years prior), allowing families to utilize the IRS Data Retrieval Tool without delays.
2018: Prior-Prior Tax Year Information Used for 2018-2019 FAFSA
For the 2018-2019 academic year, the FAFSA continued to utilize tax information from two years prior, simplifying the process and allowing for quicker submission.
2018: FAFSA Available in October for 2018-2019 Academic Year
In 2018, following the change the previous year, the FAFSA was again made available on October 1st for the 2018-2019 academic year.
2020: FAFSA Simplification Act Passed
In 2020, the FAFSA Simplification Act was passed aiming to streamline the financial aid application process.
2021: FAFSA Simplification Act Removes Selective Service Requirement
In 2021, the FAFSA Simplification Act, part of the Consolidated Appropriations Act, 2021, removed the requirement for male students aged 18-25 to be registered with the Selective Service System.
2021: Consolidated Appropriations Act Simplifies and Expands FAFSA
The Consolidated Appropriations Act, 2021 shortened the FAFSA, introduced IRS account linking, and broadened eligibility for financial aid.
2022: First Academic Year Without Selective Service Requirement for FAFSA
The 2022-2023 school year marked the first academic year that male students between the ages of 18 and 25 were no longer required to be registered with the Selective Service System to be eligible for FAFSA.
2024: FAFSA Simplification Act Implementation Causes Technical Issues
In 2024, the implementation of changes from the 2020 FAFSA Simplification Act resulted in technical problems and delays, disproportionately affecting disadvantaged students.
2024: FAFSA Deadline Act Codifies October 1 Availability
The FAFSA Deadline Act in 2024 formally established the October 1 availability date for the FAFSA into law.