College conversations may seem far away when your child is young, but before you know it, the questions start rolling in: Which schools are they applying to? What majors are they considering? And for many parents, the biggest question of all is, “How am I going to pay for this?”
Understanding recent FAFSA changes and financial aid opportunities can help you make informed decisions and potentially reduce the overall cost of higher education. The earlier you begin planning, the more options you’ll have when those college acceptance letters arrive.
Filing the FAFSA is mandatory for students who wish to be considered for federal financial aid. Some colleges and states may use this form to determine eligibility for grants and scholarships. Students must reapply every year and the final date to submit the 2026-2027 FAFSA form is June 30, 2027, I recommend checking your states FAFSA application deadline to ensure proper planning.
Key changes on the FAFSA Form
· Immediate Identity Verification: Those who create a StudentAid.Gov account will be verified immediately, the process used to take a few business days.
· Students now only need an email address to invite their parents or stepparents to provide financial information, instead of requiring their full name, date of birth and social security number.
· Some family-owned assets are no longer included when calculating financial aid eligibility: family-owned businesses that have 100 or fewer full-time employees, farms on which the family resides and commercial fishing businesses that are owned by the family.
Beyond federal aid, families should explore scholarships offered by colleges, local organizations, employers and community groups. Because scholarships and grants do not need to be repaid, they are valuable resources for reducing college expenses.
Look beyond tuition. Room and board, fees, books and travel can significantly impact the total price tag. Knowing the full picture helps you plan more effectively. Setting expectations early about budget, school choices and financial responsibility can make a big difference in long-term outcomes.
Whether your child is just starting high school or approaching their senior year, it is never too early to be prepared.
For more information regarding the FAFSA form, please visit FAFSA® Application | Federal Student Aid.