Yes, you must complete FAFSA every year you want federal student aid

FAFSA does not carry over from one year to the next. Even if you received aid last year, you need to submit a new FAFSA form each academic year to continue receiving federal grants, loans, and work-study. The form opens October 1st and you should submit it as early as possible — schools process aid on a first-come, first-served basis, and some funds run out before the academic year ends.

Your financial situation changes year to year, and FAFSA captures your current income and assets. The form you submit in October or November covers the academic year starting the following fall. If your family's finances improved significantly, your aid amount may decrease. If they worsened, you may receive more. Schools use your most recent FAFSA to determine your aid package, so submitting it late can mean missing out on grants that have already been distributed to earlier applicants.

Key Takeaways

  • You must submit a new FAFSA form every academic year, even if you received aid the previous year.
  • FAFSA opens October 1st each year and covers the academic year starting the following fall.
  • Schools award aid on a first-come, first-served basis, so submitting early increases your chances of receiving all available grants.
  • Your aid amount changes based on your current financial situation, so your package will likely differ from year to year.
  • If you do not submit FAFSA, you lose access to all federal aid, including loans, grants, and work-study positions.

What happens if you skip a year

If you do not submit FAFSA for a given academic year, you will not receive any federal student aid that year — no Pell Grants, no Federal Student Loans, no work-study. Your school cannot disburse aid without a completed FAFSA on file. Some schools may offer institutional aid or scholarships that do not require FAFSA, but federal programs will not be available to you.

If you are taking a semester off or attending part-time, you still need FAFSA to access federal aid when you return. Skipping the form does not preserve your may be able to access for the following year — you start fresh each October 1st. If you plan to return to school later, you will need to complete FAFSA at that time.

How your information changes year to year

FAFSA asks for your income and assets from the prior tax year. If you filed taxes in 2024, your 2024-2025 FAFSA will use that 2024 income. This means your aid calculation reflects your family's actual financial situation at the time you apply, not a frozen snapshot from years past.

If your parents' income dropped due to job loss or reduced hours, your aid will likely increase. If income rose, your aid may decrease. The same applies to savings, investments, and other assets. Schools recalculate your Expected Family Contribution (EFC) — now called the Student Aid Index (SAI) — each year based on your current FAFSA data. This is why your aid package can shift significantly from one year to the next, even if you attend the same school.

Deadlines and timing for each academic year

FAFSA opens October 1st and remains open through June 30th of the following year. However, schools and states set their own priority deadlines — typically in January, February, or March. If you submit after your school's priority deadline, you may still receive aid, but you could miss out on grants that have already been awarded to earlier applicants.

The academic year runs from fall through summer. A FAFSA submitted in October 2024 covers the 2024-2025 academic year (fall 2024 through summer 2025). The next FAFSA, submitted in October 2025, covers the 2025-2026 academic year. Submitting as soon as the form opens in October gives you the best chance at the full aid package your school has available.

Renewing aid at your current school

If you are already enrolled and received aid last year, your school will send you information about submitting your new FAFSA — usually in August or September. You do not need to reapply to the school itself; you only need to complete the new FAFSA form. Your school will use it to recalculate your aid for the next academic year.

Some schools offer a simplified renewal process if your financial situation has not changed much, but you still must submit a new FAFSA. Do not assume your aid will automatically renew or that you can skip the form because you are a returning student. Schools cannot disburse aid without a current FAFSA on file, and missing the deadline can delay your aid disbursement by weeks or months.

What to do if you miss the deadline

If you miss your school's priority deadline but still want to submit FAFSA, you can do so until June 30th. Your school will still process your form and you may still receive some aid, but you will likely miss out on grants that have already been distributed. Contact your school's financial aid office to ask what funds are still available and what your timeline for aid disbursement will be.

If you realize you missed the deadline after June 30th, you have lost the opportunity to receive federal aid for that academic year. You can still submit a FAFSA for the next academic year starting October 1st. Some schools offer emergency loans or institutional aid to students in this situation — ask your financial aid office what options exist.

Frequently Asked Questions

Can I use last year's FAFSA information if nothing has changed?

No. Even if your family's financial situation is identical to last year, you must submit a new FAFSA form each year. Schools require a current FAFSA on file to disburse aid. The form takes 15 to 30 minutes to complete if you have your tax documents ready.

What if I am taking a gap year?

You do not need to submit FAFSA during your gap year. When you return to school, you will submit a new FAFSA for that academic year. Your previous FAFSA will not carry over, and you will start fresh with the current year's form and income information.

Do I need to resubmit FAFSA if I transfer schools?

No. Your FAFSA is federal and follows you to any school. Your new school will use the same FAFSA you already submitted. However, you must submit a new FAFSA the following October for the next academic year, just as you would at any school.

What if my financial situation changes mid-year?

You cannot update your FAFSA mid-year to reflect a job loss or other major change. However, you can contact your school's financial aid office and request a professional judgment review. The school may adjust your aid based on your current circumstances, even though your FAFSA remains the same.

Will I lose my scholarships if I do not submit FAFSA?

It depends on the scholarship. Federal grants require FAFSA, but many merit scholarships and institutional awards do not. Check with your school about which scholarships require FAFSA and which do not. Some schools also tie institutional aid to FAFSA completion, so submitting it protects multiple funding sources.