Overview

• The final FAFSA form is now live to all students, with the Department of Education calling it the earliest online launch on record.
• Beta testing since early August logged about 43,500 starts, 27,000 submissions and roughly 24,000 processed without rejection, with 97% user satisfaction and 90% saying completion time was reasonable.
• For 2026–27, recent law excludes the net worth of small family businesses, primary-residence farms and family commercial fishing operations from assets reported on the form.
• Policy changes this cycle also adjust borrowing: Grad PLUS loans are eliminated, graduate borrowing is capped at $20,500 annually with a $100,000 lifetime limit, and Parent PLUS loans are capped at $20,000 per year and $65,000 per dependent.
• States and colleges are expanding help resources—for example, Virginia’s SCHEV help desk and Illinois’ ISAC services—with the federal deadline set for June 30, 2026, though many programs require earlier filing.