Life FAFSA Change Gives More Time to Enroll Read the Article Open Share Drawer Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on LinkedIn (Opens in new window) Written by Zina Kumok Published Oct 21, 2015 2 min read Advertising Disclosure The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service. With a rising number of students taking out loans for college, it has become crucial for families to get as much financial help as possible. That’s why, starting next year, the FAFSA will be available three months ahead of its normal release date. The FAFSA, which stands for Free Application for Federal Student Aid, is one of the most important ways students can lower their costs for college. It’s the form the federal government uses to determine scholarships, loans and various forms of aid. Most colleges use the FAFSA to do the same. Filling out a FAFSA and not filling one out can mean the difference between going to school for free and being in debt for tens of thousands of dollars. According to the White House, about 2 million students who would be eligible for the Pell Grant never apply for the FAFSA. Countless others likely fail to enroll at all because they assume they wouldn’t receive any aid. Officials are hoping that the extended time period to file will make it possible for more parents to complete the form. Currently, parents only have a brief window to fill out the form. In between raising kids, working and other commitments, many let the FAFSA slip through their fingers. The changes will take place next year, so this year’s senior class will not be affected. If you or your child will be starting college in the fall of 2017, you’ll be eligible to submit the FAFSA in October of 2016. Most college applications are due November 1, so this timing is much more in sync with how universities determine admission and scholarship eligibility. Before the updated timing, parents could only submit a FAFSA in January. If a student is starting college in the fall, that gives them a short window to complete the FAFSA, have their eligibility determined and decide which school makes the most sense financially. Because parents have to use that year’s tax information, they often have to estimate income on the FAFSA, which may affect their child’s award eligibility. Now officials are realizing that if they want to help solve the student loan problem, they have to break down the barriers that make it harder for parents. In addition to extending the filing window, the government has also shortened the time it takes to fill out the FAFSA to an average of 20 minutes – less than the amount of time it takes to watch one episode of your favorite sitcom. For more about the FAFSA, contact the Federal Student Aid Center at 1-800-4FED-AID or click here for basic information for students. Zina Kumok is a freelance writer specializing in personal finance. A former reporter, she has covered murder trials, the Final Four and everything in between. She has been featured in Lifehacker, DailyWorth and Time. Read about how she paid off $28,000 worth of student loans in three years at Debt Free After Three. Previous Post An Education in College Savings Next Post Transitioning Your Finances to Life After College Written by Zina Kumok Zina Kumok is a freelance writer specializing in personal finance. A former reporter, she has covered murder trials, the Final Four and everything in between. She has been featured in Lifehacker, DailyWorth and Time. Read about how she paid off $28,000 worth of student loans in three years at Conscious Coins. More from Zina Kumok Visit the website of Zina Kumok. Browse Related Articles Mint App News Intuit Credit Karma welcomes all Minters! Retirement 101 5 Things the SECURE 2.0 Act changes about retirement Home Buying 101 What Are Homeowners Association (HOA) Fees and What Do … Financial Planning What Are Tax Deductions and Credits? 20 Ways To Save on… Financial Planning What Is Income Tax and How Is It Calculated? Investing 101 The 15 Best Investments for 2023 Investing 101 How To Buy Stocks: A Beginner’s Guide Investing 101 What Is Real Estate Wholesaling? Life What Is A Brushing Scam? Financial Planning WTFinance: Annuities vs Life Insurance