How Long Does It Take FAFSA to Process?

When I had to fill out the 2023-24 FAFSA form this past year for graduate school, I underestimated how tedious the process is. It seems simple—just fill out a form, but unexpected or unforeseen delays can turn into significant problems if not addressed.

On top of applying for my program, I was also responsible for filling out the paperwork for my financial aid packages, which meant gathering additional documents, meeting deadlines, etc. I was unaware of processing times and everything that happens after you submit your FAFSA. I was overwhelmed and lost. But you don’t have to be. If you are getting ready to fill out the 2024-25 FAFSA form, I have everything you need to know about FAFSA data.

Today I will be discussing key details on FAFSA processing times and what to expect once you submit the new 2024-25 FAFSA. Applying for college is already demanding, there is no need to spread yourself thin trying to figure out what needs to be done. Let this article be your guide through a successful FAFSA season.

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Understanding FAFSA

The Free Application for Federal Student Aid (FAFSA) is a free form that students use to apply for federal aid (i.e., grants, scholarships, work-study funds, and loans) for college, trade/vocational school, or graduate school.

Every year, by October 1, FAFSA applications open—and students can start filling out and submitting their FAFSA forms. Though the FAFSA can be intimidating, students might discover they are eligible for several types of financial aid after submitting their FAFSA.

The FAFSA can make a huge difference in your college tuition. Remember that nearly any student attending college can fill out the FAFSA, including single parents or students who have taken time off. If you're in that situation, try applying for these scholarships for single mothers as well.

Types of FAFSA Forms

It’s important to know the FAFSA comes in different forms, which means different processing times. Let’s discuss them.

1. Online FAFSA:

• Processing Time: Usually takes 3 to 5 days if you submit the FAFSA online (via the FAFSA website). After you submit, you’ll receive a confirmation email within a few days. This email will include an estimated expected family contribution (EFC) to let you know you were selected for verification.

2. Paper FAFSA:

• Processing Time: If you mail in a paper FAFSA form, the processing time can take 7 to 10 days, maybe longer. This is because the form has to be manually processed by the U.S. Department of Education first.

Post-Processing

Once your FAFSA is processed, you should receive your Student Aid Report (SAR), which summarizes the information you submitted. It typically arrives within a week if you applied online and could take 2 to 3 weeks if you applied via paper.

Statuses of the FAFSA

Once you open a new FAFSA application for the new financial aid year, your application will be processed according to status:

• Draft
• In Progress
• In Review
• Actions Required (i.e., if any missing signatures, documents, etc.)
• Processed
• Closed

If you’ve submitted a mail-in form, you can check the status via the Student Federal Aid website after it has been processed. This can take up to 10 business days.

Tips for an Easy FAFSA Experience

If there was something I wish I had when I applied for financial aid, it would be advice on how to go through the process as soon as possible. Now you don’t have to!

Here are a few tips to consider for an easy FAFSA experience:

1. Start Early

It is key to stay ahead of the game! Submitting early means higher chances of receiving aid, so as soon as the FAFSA opens on October 1, don’t waste time. Get all of your docs together ahead of time, too (i.e., social security number (SSN) (or alien registration number if you’re not a U.S. citizen), federal income tax returns, bank statements, etc., and your FSA ID). This is a game-changer. Some states and schools have early deadlines, so double-check these details and submit your app as soon as possible. Having all of these documents handy will save you time and reduce stress.

2. Create Your FSA ID Early

The FSA ID is your electronic signature, and you are required to sign the FAFSA online. It allows you to complete and submit your FAFSA electronically, and it is needed every year. If applicable, your parent) will need their own FSA ID(s). So, don’t wait until the last minute to create one—do this ahead of time on the Federal Student Aid website.

3. Use Your Resources

Make sure to use all resources available to you. This includes the IRS Data Retrieval Tool (DRT), which is part of the FAFSA. This tool is used to automatically import all tax data for you, reducing errors and making the process faster.

If you get stuck filling out the FAFSA, use the help feature on the FAFSA website. You can also call the Federal Student Aid Information Center (1-800-433-3243) for more help.

4. Double-Check for Accuracy

Double-check your FAFSA for accuracy before submitting. Pay close attention to SSNs, birth dates, and financial information, as well as signing your FAFSA. Both the student and parent (if applicable) will need to sign the form electronically. Please note: If you miss this step, your application will not be processed.

After submitting the FAFSA, you’ll receive your SAR, which explains the information you provided. You want to review and carefully check the form for errors or discrepancies. If the SAR has mistakes or missing information, correct it immediately to avoid delays in processing.

Bonus Tip: Once you receive confirmation of submission, save a copy of the confirmation and the completed FAFSA form for future reference for your records.

5. Stay Organized and Follow Up

This is a very underrated key point, but I suggest keeping a folder with copies of all your financial aid documents (i.e., FAFSA, SAR, and any emails from your school’s financial aid office). If your school requests additional documents, make sure to submit them as soon as possible to avoid delays in the finalization.

Be aware that the FAFSA doesn’t cover all types of financial aid. Scholarships can help make up the difference—apply to scholarships on Bold.org today!

What to Expect After Submitting the FAFSA

Now, though submitting your FAFSA in a timely manner is important, the post-submission process is equally important. As you know, you’ll receive your student aid report (SAR) once your application has been submitted. This will include your student aid index (SAI), or the expected family contribution (EFC), which assesses your eligibility for financial aid and any federal Pell Grants if eligible.

Once your information is sent to the colleges you listed on the FAFSA, each school will then send you a financial aid offer with the types and amounts of aid you qualify for.

Troubleshooting FAFSA Delays

If it’s been weeks since you filed your FAFSA and you still haven’t received your FAFSA submission summary (FSS), it may be time to double-check that you filled out all of your information properly in order for it to be processed successfully. To do this, log into your FAFSA account and check your status.

If you’ve received your FSS but it didn’t include your student aid index (SAI), your FAFSA application is likely missing key information. So, make sure all Is are dotted and all Ts are crossed so your form can be reviewed and processed timely. If you continue to have issues, contact the FSA or your school’s financial aid office for assistance with FAFSA delays.

Receiving Your Financial Aid Award Letter

Once your FAFSA is processed successfully, your financial aid award letter will be sent to you via email or on paper. Please keep in mind that the timing varies by school. However, award letters are usually sent out in February at the earliest.

You will want to make sure you review your financial aid package carefully to fully understand the terms and conditions. This may be confusing for some, so please don’t hesitate to contact your financial aid office for better clarification.

Disbursements

FAFSA money goes directly to your school and is applied to your tuition, fees, room and board. If there’s anything left over, the school will pay that money to you.

For a better breakdown of disbursements, grants, and loan funds are typically disbursed once per term, with a portion of those funds disbursed at the beginning of the fall semester and again at the beginning of the spring semester.

Keeping Your FAFSA Up to Date

Mistakes are easy to make on forms like the FAFSA if you’re not careful, so here are a few tips to keep in mind for a smoother application process:

• Keep your FAFSA information up to date when changes occur
• Correct any errors ASAP
• Update your contact information (if necessary)
• Do not leave any answers blank
• Triple-check your form(s). If you make a mistake, you can make corrections later, but it’s faster and easier to get it right the first time

You are not limited to just these tips, so be sure to apply them as you go. Have a happy FAFSA season!

Frequently Asked Questions About the FAFSA Process

What is the FAFSA?

The FAFSA, or the Free Application for Federal Student Aid, is a form that students must complete to apply for financial aid for college, trade/vocational, or graduate school. The form consists of information about the student’s (or their family’s) finances to determine eligibility for financial aid, federal Pell Grants, and other federal aid.

When Should I Submit the FAFSA?

You should submit your FAFSA as soon as possible after it becomes available on October 1 each year and close June 30 of the academic year you are applying for. Many states and schools have early deadlines, so submitting early increases your chances of receiving aid, including federal grants, work-study, and loans.

What Happens After I Submit the FAFSA?

After you submit your form, you’ll receive a student aid report (SAR), usually within a few days of submission if done online and a few weeks if mailed in. The SAR explains the information provided on the form. Your FAFSA information will then be sent to the schools you listed, and each school will use the information to create a financial aid package based on your eligibility. If selected for verification, you need to adhere to making corrections or submitting any missing paperwork necessary.

Apply for scholarships today! Prospective college students can also head over to the Scholarship Blog for more guides on the top colleges to apply for and other financial aid advice.