Are You FAFSA-Ready?
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Questions and Answers

By when should students and families complete the FAFSA form for the 2023-24 school year?

  • January 2023
  • June 30, 2024 (correct)
  • July 2022
  • October 1, 2022

    • When does the FAFSA 2023-24 application open?

  • June 30, 2024
  • January 2023
  • July 2022
  • October 1, 2022 (correct)

    • When does the FAFSA 2023-24 application close?

  • June 30, 2024 (correct)
  • July 2022
  • January 2023
  • October 1, 2022

    • Do all states have the same FAFSA application dates for the 2023-24 academic year?

    <p>It depends on the state</p> Signup and view all the answers

    Which of the following is NOT a factor in determining FAFSA deadlines?

    <p>Family income</p> Signup and view all the answers

    What is the purpose of completing the FAFSA each year?

    <p>To receive financial aid for the following school year</p> Signup and view all the answers

    What is the initial step for students and families to receive financial aid for college?

    <p>Completing the FAFSA</p> Signup and view all the answers

    Which year's taxes does the FAFSA 2023-24 application consider?

    <p>2021</p> Signup and view all the answers

    What is the formula for determining need-based aid?

    <p>Cost of attendance - Expected family contribution</p> Signup and view all the answers

    What is the Student Aid Index (SAI)?

    <p>The new name for Expected Family Contribution (EFC)</p> Signup and view all the answers

    Do you need to apply for FAFSA every year?

    <p>Yes</p> Signup and view all the answers

    Which year's income and tax information is needed for FAFSA for the 2024-25 academic year?

    <p>2022</p> Signup and view all the answers

    Is FAFSA a loan?

    <p>No</p> Signup and view all the answers

    Do you have to pay back grants and scholarships received through FAFSA?

    <p>No</p> Signup and view all the answers

    Is FAFSA first come, first served?

    <p>Yes</p> Signup and view all the answers

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