LEXINGTON, Kentucky (October 17, 2022) — The time has come again to fill your FAFSA – the free application form for federal student aid. Matthew Massarone, UK Office of Student Financial Aid and Awards‘ Outreach Manager at the Office of Student Success, explains why FASFA is so important.
What is the FAFSA and why is it important?
The FAFSA is the free federal student aid application. The information students and families enter on the application determines the types/amounts of all federal and state aid offers and some institutional funding offers. The application is the starting point and is the most important step in accessing financial assistance.
Do current students need to complete the FAFSA?
Yes! We encourage all students, from freshmen to senior students to graduate students, to complete this application each year. There is absolutely no downside to submitting the FAFSA application. There is a common misconception that it is sufficient to submit it for one year, but the application must be completed annually by all students – new and continuing.
Is there a deadline for the FAFSA 2023-2024?
Yes, the current deadline is June 30, 2024. However, students should file their FAFSA as soon as possible.
Students can submit it until this date as long as they are enrolled in summer courses. The deadline for submitting a FAFSA for the Fall/Spring term is the last day of the Spring Academic Calendar. We cannot consider students for assistance beyond this if they are only enrolled in the fall/spring.
What is the most important part when filing your FAFSA?
The FAFSA 2022-23 just opened on October 1st. For consideration of most institutional aid programs, prospective students must file the FAFSA by December 1 before the academic year for which they plan to enroll.
Some of our state aid programs provide additional grants to eligible students based on the order in which they file the FAFSA. Many of our students miss out on thousands of dollars in additional state grants simply because they wait too long to file. To ensure that financial aid is processed in time for payment of tuition billing, currently enrolled students should file the FAFSA by March 1 before the academic year for which they plan to enroll.
Does the UK have resources to help students with their FAFSA?
Our Office of Student Financial Aid and Scholarships has a team of advisors ready to help any student or family complete the FAFSA. They can easily make an appointment online to speak with advisors in person or via a video platform. We also welcome walk-in appointments during normal business hours. In fact, if our door isn’t wide open during business hours, I want the students to let me know. Students are the reason we are here.
What is FAFSA verification?
After submitting the application, some students may be selected for FAFSA verification by the federal government. Students will be notified via their myUK financial aid portal under the required documents. They will need to log into our verification portal to see the required items that will need to be submitted to finalize their help case. We cannot disburse student aid until verification is complete, so we encourage all students to do so as soon as possible. This can be a very difficult and confusing process, so students should not hesitate to contact our office for advice and assistance in completing the verification.
Prospective students also have access to financial aid counselors to help you answer all your questions about financing your studies.