Got Questions About Applying for Financial Aid — Start with October 1st

Everyone is back to school and getting used to the new academic calendar. We wish you an engaging, healthy, and successful school year!

In the meantime, the college application process marches on. October 1, 2025, was the first day that any U.S. citizen or eligible non-citizen who expects to apply for need-based financial aid can access, complete, and submit the FAFSA and CSS Profile.

Invariably, a whole host of questions arise. "How do I actually apply for financial aid?" "What do the acronyms, FAFSA and CSS, even stand for?" "If we know we will not qualify for need-based aid but would like to take advantage of unsubsidized federal student loans, when and how do we apply?" These are just a few of the common queries we hear every day. If your family needs to take loans to finance your student's undergraduate degree, it is important to note that there are new limits as set forth by the One Big Beautiful Bill. There are new limits on Parent PLUS loans for undergraduates, with an annual cap of $ 20,000 and a lifetime aggregate cap of $ 65,000 per student. These new limits will take effect as of June 30, 2026, and may play a role in assessing your family's financial fit. Pay for Ed's Fred Amrein recently posted an in-depth article on these changes. 

We also recommend completing the Parent/Teen Activity — "Gauging Financial Fit " found in the Elevated Admissions Resource Library (note: the embedded links only work from the course site, not after the PDF has been downloaded). Regardless of whether or not you plan to apply for financial aid, we strongly recommend you read through this short explainer document that covers the following: 

• The Basics: What you need to know

• How to properly begin the FAFSA

• Who should file the FAFSA (and the CSS Profile when required)

• Should we apply for financial aid or not? 

• Aligning the college application to reflect your financial aid intention accurately 

• Guidance on merit aid

• Guidance for federal student loan applicants

Like it or not, Financial Fit is one of those non-negotiable "three elephants" in the room, so the issue of financial aid can become an outsized issue at this stage of the admissions process in particular. As always, we are here if you have questions.