File your FAFSA, and don't wait

Last year, families across the country left billions of dollars in financial aid unclaimed. All because one important form, the FAFSA, didn’t get completed.

The FAFSA, or Free Application for Federal Student Aid, is how students apply for nearly all forms of college funding. That includes federal Pell Grants, New York State Tuition Assistance Program (TAP) awards, Excelsior Scholarships, federal loans, work-study and most institutional aid. Without a completed FAFSA, that support is out of reach.

Starting with the 2024-25 school year, New York State made FAFSA completion a high school graduation requirement. Seniors must now submit the form or sign a waiver to opt out. It is a smart policy aimed at helping more families access the support they need.

But the FAFSA is not just for seniors. Continuing and transfer students also need to file it each year to remain eligible for most forms of aid. Too often, they leave dollars on the table simply by not renewing their application. The new requirement is important, but it will only be effective if families understand that financial aid depends on annual action.

And a requirement alone will not guarantee results. Filing late, skipping the form or assuming it will not apply can still result in missed opportunities and lost aid.

We are now in the 2025-26 FAFSA cycle. The form is more streamlined than last year, which was rocky, and many of the early technical problems have been resolved. Still, many families hesitate. Some do not think they will qualify. Others do not realize how much depends on filing on time, and every year.

This is especially relevant on Long Island, where the cost of living is among the highest in the country. Families often face steep expenses for housing, transportation and health care. Even with stable incomes, paying for college without assistance can feel out of reach.

The FAFSA can make a significant difference. Nearly all of it begins with one step: submitting the application.

Filing early matters. Some federal and state funds are distributed on a first-come, first-served basis. The sooner families apply, the better positioned students are to receive a full aid package and make informed decisions about which college they can afford to attend.

Even if you believe you will not qualify for need-based aid, it is still worth submitting the form. Colleges often use FAFSA data to determine eligibility for institutional grants, work-study programs and other support not tied directly to income.

At Pace University, we have expanded our outreach to help families understand their options. Our financial aid counselors work closely with high schools and community organizations. They host workshops, provide one-on-one support, and walk families through the process step by step.

But educators, school counselors, community leaders and trusted adults across Long Island need to help make sure this message reaches every household.

Filing the FAFSA is free. It takes about 30 minutes. It can open the door to thousands of dollars in support that students would not otherwise get.

Let us make sure the state’s new requirement leads to real access. And let us ensure students are not missing out on the resources they need, especially here on Long Island.

Visit StudentAid.gov to file. Ask for help if you need it. But do not wait.

This guest essay reflects the views of Marvin Krislov, the president of Pace University.