Do I need to renew my old FAFSA or start a new one?

Question

So, I'm starting another year of school and cannot get my loan until I submit the FAFSA. The problem is, I don't know if I need to renew it or start from scratch. The renewal page that I have already done says 2007-2008, and the questions seem to pertain to that year of school. So is renewing the FAFSA supposed to be done between first and second semester or each year, and then you apply all over again with a new school year? I'm lost.

Answer 1

No, no, that's not true. You can submit a FAFSA form to the Department of Education for the 2008-2009 academic year any time before June 30, 2009.

It's also not true that "the aid is already given out". At least not entirely true.

Pell Grants are available all throughout the year, and they don't "run out". If your family's financial situation qualifies you for a Pell Grant, you will receive the full grant amount, once your FAFSA has been submitted, evaluated, and sent to the financial aid office of your school.

The same is true for Stafford loans. You can qualify for a Stafford loan any time during the year - these don't "run out", either.

Certain forms of federal aid (and state and institutional aid, as well) do come from limited funds that are distributed immediately after some kind of published financial aid (or application) deadline. The previous respondent is correct that (most of?) (all of?) these funds have probably long since been awarded. If you miss the deadline, you will have to wait until next year to apply for any of these.

If you're looking at a renewal page that's discussing the 2007-2008 school year, you're at the wrong part of the FAFSA website.

A FAFSA must be filed every year that you apply for financial aid. (Once a year). The FAFSA is available beginning in early January, and it's very much worth your while to apply as early as you can - if for no other reason, because it's one less thing to worry about each year.

Once you have filed an initial FAFSA (as you have), you do not need to file a brand new form each year - instead, as you've figured out, you can file a "renewal FAFSA". That's really not much more than a FAFSA form with most of the information already filled out for you, based on your prior answers. You don't have to do anything special - go back to the FAFSA page (http://www.fafsa.ed.gov/) and log into your account, using the PIN number that you used last year (you did hold onto that, didn't you?)

The government should have sent you an electronic (email) notification with information on how to renew your FAFSA. If you didn't get it, you might find it faster to just go ahead and start over with a new form.

Call 1-800-4-FedAid if you have any problems completing the form.

I hope this helped - good luck to you!

Answer 2

you have to submit a new one, but those were due on Feb. 1st!!!  It must be done before the semester starts.  All of the aid has been allocated already.../