What Is the FAFSA Deadline 2021 – What, When & Why
Obtaining a higher education, a degree, or furthering one’s skills is almost necessary for today’s competitive job market. In addition to the hard work, perseverance, and studying, there is the question of financing an education. At first, some of the tuition and book costs may appear overwhelming. However, the government has spotted this gap in need and costs and thus has provided assistance. For most students, young or old, the Free Application for Federal Student Aid or FAFSA is the perfect solution to this dilemma.
The FAFSA is an easy and pain-free way for a multitude of students across a wide array of backgrounds to find out what federal financial aid they are entitled to during their quest for higher education. However, in order to qualify for federal financial aid during a particular semester in 2021, all students must abide by the FAFSA deadline 2021.
When is the FAFSA Deadline 2021?
Understanding and meeting the deadlines required by FAFSA are essential to jumpstart your path to obtaining nearly any degree. Whether you are seeking an associate’s degree, bachelor’s degree, or even master’s degree and so on, the FAFSA can prove to be an invaluable financial tool.
As students hold their breath for financial assistance, the applications for FAFSA begin on October 1st, 2021. Of course, this is simply the opening day for financial assistance applications. According to Ascent Funding, the FAFSA deadline 2021 is June 30, 2022, for the 2021-2022 school year. Furthermore, the earlier you can file your FAFSA application, the better. While student loans are available to applicants throughout the application period, federal grants are another matter.
The Benefits of Filing Earlier
Federal grants are funds that are essentially gifted to students and do not have to be paid back (in contrast to student loans). However, Federal grant funds are limited and are often awarded on a first-come, first-serve basis. Therefore, to ensure the most aid, filing earlier in the application period is recommended.
In addition to securing grant funds, filing earlier is also important for another reason, fluctuating state aid deadlines. All states vary in their deadline for financial aid. Some states have earlier and more restrictive time constraints than others. Filing closer to the original opening date of the FAFSA process, October 1, 2021, ensures that you meet not only federal deadlines but state deadlines as well. These deadlines can also impact which semesters receive funding.
A student must complete their FAFSA prior to the semester in which they attend classes. For example, if you wait to file your FAFSA until February or March, then you miss out on valuable and important funding for the Spring semester. However, if you file prior to the beginning of classes, you have a much better chance of securing aid for your prospective semester.
All in all, FAFSA deadlines are crucial dates to learn and abide by for many students. While there is a decently long application period, the best rule of thumb is to apply as soon as possible for any financial aid.