College students are increasingly having to go into debt to attend their dream universities or simply to continue their academic careers. In the United States, some even opt for loans or private financial aid, but it’s important to remember not to miss the deadline to apply for the Free Application for Federal Student Aid (FAFSA), as you run the risk of not being eligible for any loans.
Students will have access to the largest source of financial aid
The Free Application for Federal Student Aid (FAFSA) is required to apply for federal financial aid for higher education, such as scholarships (grants), work-study funds, and loans. In addition to being free, it’s easier than ever to complete and submit the FAFSA. By doing so, students will have access to the largest source of financial aid to help them pay for college or university.
Private loans should be the last option, not the first. Grants and scholarships are free money. Skipping the FAFSA means losing your eligibility for federal aid. For the 2025-26 academic year, the FAFSA form must be submitted by 11:59 p.m. Central Time on June 30, 2026. Any corrections or updates must be submitted by 11:59 p.m. Central Time on September 12, 2026.
Additionally, many states and educational institutions use FAFSA data to award their own aid. Some private entities also use FAFSA information to award financial aid.
it’s important to remember that each institution or university may have its own deadline
Aside from this, it’s important to remember that each institution or university may have its own deadline. It’s important to check with the school you’re interested in attending. You can also ask what the school considers the application deadline. For example, the deadline could be the date the FAFSA form is processed or the date the school receives the processed FAFSA form data.
With this clear, there are other common mistakes among those seeking financing to pursue their studies. For example, procrastinating on loan applications. Start the private loan process as soon as you receive your financial aid package, and aim to finalize everything at least 3-4 weeks before tuition is due. Don’t wait until the last minute, that will only cause you headache and miss sending important paperwork.
Every extra dollar borrowed means more interest and a longer repayment period
If possible, don’t borrow more money than necessary. Some students accept the entire loan offer. But every extra dollar borrowed means more interest and a longer repayment period. Perhaps to be safe in case something unexpected happens, students don’t think twice about taking out the entire loan. But for this, it’s important to consult the university’s financial aid award letter. This way, you can assess actual expenses, not just an approximation based on impressions.
To sum up, the smartest thing to do is, first of all, try to apply early. Then, study all the options available. That means, don’t get the firs loan you see or you are offered. Compare always all your options before taking a decision. Just think about it, understand all the German, the interest, late fees… And of course, don’t neglect federal aid as we said. Fill out the FAFSA, don’t hesitate.
