Congratulations! You’ve worked hard to earn your bachelor’s degree and are now considering your next move. Graduate school is the next logical step in your career path, but since you might have already incurred some debt paying for your undergraduate tuition, you’re trying to figure out how you can finance your goals and dreams. Is the financial aid application process the same for graduate school as it was for undergrad?
The answer is yes: use the Free Application for Federal Student Aid (FAFSA).
Chances are, you’ve already used FAFSA to apply for federal student financial aid throughout your college career and possibly received offers of grants, loans, and work-study. However, what about FAFSA for graduate school?
Key Takeaways: FAFSA for Graduate Students
- Graduate students should still complete the FAFSA each year to qualify for federal loans, work-study, and many institutional or state aid programs.
- Unlike undergraduates, grad students are considered independent and report only their own (and their spouse’s) income and assets.
- Pell Grants are generally unavailable, but you may qualify for Direct Unsubsidized Loans and Grad PLUS Loans to cover remaining costs.
- The FAFSA opens Oct. 1 for the following academic year, with a federal deadline of June 30, 2026, for 2026–27. Apply early, as funds are first-come, first-served.
- The Expected Family Contribution (EFC) has been replaced by the Student Aid Index (SAI), the new formula for determining financial aid eligibility.
What Is FAFSA Used for, and What Kind of Assistance Can I Expect?
The FAFSA is the standard application used by educational institutions throughout the U.S. to determine a student’s eligibility for federally subsidized financial aid. If you’re applying for any “free money”, whether it’s a full scholarship, university-partner scholarship, or other institutional funding, you’ll almost always need a FAFSA on file to see whether federal aid is part of your funding package. “Free” money refers to grants or scholarships, financial assistance that you do not have to repay.
Why the FAFSA Matters
Completing the FAFSA opens access to:
- Federal grants, scholarships, and work-study programs
- Federal student loans
- Many institutional aid programs and state financial aid programs (which often use FAFSA data)
How Costs and Funding Have Changed
Earlier posts mentioned “just under $6,000” in federal funding for the academic year and “up to $15,000” in additional state funding (e.g., California). These figures are outdated. The actual amounts vary by year, institution, student status, and aid program. Always check the latest information from your college/university and federal websites.
Graduate Students and the FAFSA
Yes, graduate and professional students still need to complete the FAFSA in order to be eligible for many forms of aid. However, some key differences now apply:
- As a graduate student, you are almost always considered an independent student, meaning you do not report your parents’ income or assets. Only your income (and spouses, if married) is required.
- Graduate students may not be eligible for the same grants available to undergraduates; for example, the Federal Pell Grant is generally restricted for undergraduates or certain postbaccalaureate teacher-certification programs.
- You may borrow through federal loan programs:
- Direct Unsubsidized Loans (up to about $20,500 per year for grad students)
- Grad PLUS Loans (which cover additional costs of attendance) for those who qualify.
Important FAFSA Application & Deadline Notes
The FAFSA application deadline is between October 1st and June 30th.
You’ll have to make sure your application is complete, saved, and submitted, or it will go offline. The form must be completed each year for which you request aid. For more info, please visit the National University financial aid and scholarships page.
- The FAFSA opens October 1 each year for the upcoming academic year (though delays are common).
- The deadline for submitting FAFSA to be eligible for federal student aid for the 2026-27 academic year is June 30, 2026 (though institutional and state deadlines may be earlier).
- A major update: The formula used to determine aid eligibility changed, the “Expected Family Contribution (EFC)” has been replaced by the “Student Aid Index (SAI)”.
What This Means for You
For graduate students: Expect fewer free grants, higher borrowing limits (but also higher interest and more responsibility), and different eligibility rules than you may have seen in undergraduate years.
- Submit the FAFSA as soon as possible after it opens; many grants and institutional funds are first-come, first-served.
- Complete it every year you plan to attend, including graduate years, if you aim to receive federal student aid.
- Provide accurate income, asset, and tax information (you may use the IRS Data Retrieval Tool if available).
- Contact your institution’s financial aid office to understand how your FAFSA results translate into an aid package (grants + scholarships + loans).
Should I Apply for FAFSA?
Absolutely. Anyone pursuing their education should apply for FAFSA, whether you’re just looking for scholarships or a combination of scholarships, work-study, and federal loans. Even if you’re just looking for a scholarship from your school, they’re going to want to see a FAFSA on file to get an idea of your financial need.
Watch: How to Fill Out the FAFSA, Step-by-Step Tutorial
Filling out the Free Application for Federal Student Aid (FAFSA) is one of the most important steps in securing funding for graduate school. In this quick video from National University, you’ll learn how to complete your FAFSA, what information you’ll need, and how NU’s advisors can guide you through the process.
Watch now to see how easy it can be to start your application and find potential grants, scholarships, and loans.
