NEWARK, DE — The 2027-28 Free Application for Federal Student Aid is now open, giving college students and their families an opportunity to secure federal, state and institutional financial assistance before limited funding and priority deadlines potentially restrict available aid.
Sallie, a Newark, Delaware-based education finance company, is urging students to complete the FAFSA early, citing research indicating that many families misunderstand eligibility requirements or are unaware of when applications become available.
According to the company, only 25% of families know the FAFSA opens in the fall, while 26% did not submit an application last year.
Families who skipped the process frequently cited concerns that their income was too high to qualify, difficulty obtaining required information or missed deadlines.
The FAFSA determines eligibility for federal student aid, including Pell Grants, work-study opportunities and federal student loans. States and colleges also use application information to determine eligibility for certain grants, scholarships and institutional assistance.
Some programs operate with limited funding or priority application deadlines, making the timing of submissions consequential for students seeking financial assistance.
The 2027-28 application includes several changes intended to reduce paperwork and provide students with earlier estimates of their financial aid eligibility.
Sallie said most families can complete the shortened application in less than 12 minutes.
Applicants receive an estimate of federal aid eligibility after submitting the form, along with their FAFSA Submission Summary and Student Aid Index, a measure used in determining financial aid eligibility.
The updated process also includes prefilled information for returning students and reusable parent information for families with multiple children applying for aid.
Students can invite parents or other required contributors to complete their portions of the application using a code, while automatic tax information transfers reduce manual data entry.
“Whether you’re heading to college for the first time or returning for another year, filing early can help uncover scholarships, grants, and other aid that can make college more affordable,” said Rick Castellano, vice president at Sallie.
Students and required contributors must establish accounts through StudentAid.gov to complete and sign the application.
Families should also review federal, state and institutional deadlines separately because eligibility and submission requirements vary among financial aid programs.
Sallie recommends submitting the FAFSA even when families believe their income may disqualify them from assistance, noting that eligibility extends beyond federal need-based grants.
Students must complete a new FAFSA for each academic year in which they seek financial aid.
The company provides free FAFSA webinars and a 2027-28 application guide, along with scholarship search resources through its Scholly platform.
Additional information about financial aid preparation and college financing is available at Sallie.com.
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