When you are applying for college, filling out forms can become a full-time job. But there is one form that should be at the top of your priority list: the Free Application for Federal Student Aid, or FAFSA.^[1]

Why is FAFSA important? Because it is the gateway to federal student aid, school-specific scholarships, and more—key funding opportunities that can make it easier to pay for your education. And FAFSA is not just for undergraduates. Graduate students should also complete it.

After the passage of the One Big Beautiful Bill Act on July 4, 2025, federal student aid changes are on the horizon, especially for graduate students. As federal loan programs evolve, it is more important than ever to understand how FAFSA affects your funding.

What Is FAFSA and Why Does It Matter?

The FAFSA determines your eligibility for numerous funding sources, including:^[2]

• Federal aid and grant programs
• Federal student loans
• Federal, state, and school-specific work-study programs
• Many scholarship awards

Although Pell Grants are only available for undergraduate students, graduate students still have opportunities to secure federal aid for college educational costs.^[3] Understanding what are Pell Grants and how they differ from other forms of aid can help clarify your options. Before graduate school begins, you can use the FAFSA to:

• Apply for federal loan programs like the Graduate PLUS Loan^[4]
• Demonstrate eligibility for school-based scholarships (both need- and merit-based)

It is also helpful to understand the relationship between Pell Grant vs. FAFSA, since FAFSA is the application that determines your eligibility for Pell Grants and other financial aid programs. Explore what to know about FAFSA before learning how to apply for scholarships or aid—completing the form accurately is critical.

FAFSA and Title IV Funding Changes in 2026

Federal loan programs like the Graduate PLUS Loan fall under the umbrella of Title IV, a law that authorizes federal funding for student aid programs (including Pell Grants and federal work-study opportunities).^[5] Alliant offers Title IV resources for more information.

However, changes to Title IV financial aid are coming. The One Big Beautiful Bill, passed on July 4, 2025, has introduced multiple changes to federal student aid programs. The most important for graduate students is the cancellation of the Graduate PLUS Loan program.

Graduate PLUS Loans will only be awarded until July 1, 2026. Submitting your FAFSA application as early as possible ensures access to this loan program before it is phased out.

Alternative Funding if Loan Rules Tighten

If you do not complete the FAFSA in time to qualify for the Graduate PLUS Loan program (or if you need additional funding or money to pay for a graduate or professional degree program), we recommend exploring financial aid alternatives like:

• Scholarships – Individual institutions, nonprofits, and professional organizations offer need- and merit-based scholarships to students. Learn how to get scholarships for graduate school early to maximize your chances.
• Assistantships and fellowships – Many universities offer teaching, research, or work opportunities for students in specialty fields. Fellowships and assistantships may provide direct funding or income, helping students pay educational costs.
• Employer tuition assistance – Students who work during graduate school may be able to request tuition assistance or reimbursement from their employers.
• Private loans – Private graduate student loans currently offer variable rates, require credit checks, and often benefit from having a cosigner. Unlike federal loans, private loans typically don’t offer income-driven repayment, loan forgiveness programs, or generous deferment options. Interest rates and terms vary significantly by lender, making comparison shopping essential.

How FAFSA Impacts Graduate PLUS Loans

Applying for financial aid via the FAFSA helps determine your eligibility for programs like the Graduate PLUS Loan. To be eligible for this program, you must:

• Be a graduate or professional degree program student enrolled at least half-time
• Not have an “adverse credit history” (unless you meet additional requirements)
• Meet the general requirements for federal student aid (e.g., display financial need)

Completing the FAFSA is the only way to access this federal loan program—and time is running out. Complete the FAFSA as soon as possible to explore available aid packages.

FAFSA and Scholarships: The Overlooked Connection

Financial aid and scholarships often have something in common: Both typically require applicants to complete a FAFSA. Even if you do not qualify for federal aid programs, the FAFSA can help you unlock:

• Institutional scholarships – School-specific scholarships for graduate programs often require applicants to complete the FAFSA to verify financial need. Institutional scholarships sometimes have different eligibility requirements (i.e., income limits) than federal aid programs.
• External scholarships – Scholarship awards from nonprofit organizations, professional organizations, and other third parties often cross-reference FAFSA data to confirm eligibility (especially for need-based scholarships).

Most importantly, students can use the FAFSA to identify multiple types of aid and pay their educational costs from various funding sources.

Key FAFSA Deadlines and Mistakes to Avoid

There are two key FAFSA dates to remember:^[6]

• The FAFSA opens on October 1, 2025, for the following academic year.
• The FAFSA deadline is June 30, 2026.

However, the closing deadline applies to federal aid programs only. If you intend to apply to an institutional or third-party scholarship, review their requirements carefully; the scholarship review committee may request an earlier FAFSA submission.

To ensure timely processing and accurate aid offers, beware of common FAFSA mistakes like:^[7]

• Leaving fields blank
• Listing incorrect identifiers (e.g., Social Security number)
• Listing marital status incorrectly
• Forgetting to list the Federal School Code for the institution you plan to attend

FAQs About FAFSA for Graduate Students

While completing the FAFSA, additional questions may come to mind. Some frequently asked questions from graduate students include:

• Do Pell Grants apply to graduate students? – Graduate and professional degree program students are not eligible for federal Pell Grants. However, the FAFSA is still typically required to apply for federal loans and some scholarships.

• Can FAFSA help reduce student loan debt? – Yes—indirectly. By completing the FAFSA, you can explore your eligibility for funding sources like grants, scholarships, and work-study programs: resources that can decrease your total educational costs.

• What happens if I miss the FAFSA deadline? – If you miss the deadline for FAFSA submission, you may have more limited financial aid options—both from federal aid resources and other opportunities. If your attendance is contingent upon receiving a federal loan, you could delay your enrollment if your FAFSA is not processed in time.

Take Charge of Your Education Today

Why is FAFSA important? Because, as Title IV funding changes take effect, graduate students will have fewer opportunities to secure financial aid for graduate school. Completing the FAFSA before the Graduate PLUS Loan program ends is the only way to access this federal funding source.

Complete your FAFSA as early as possible to unlock as many funding opportunities as possible for your graduate program.

Need help with FAFSA? Curious about scholarship opportunities? Reach out to the Financial Aid Office at Alliant University to create a funding strategy before the 2026 Title IV changes take effect.

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Sources:

^[1] “What Is the FAFSA Form and Why Should I Fill It Out?” US Department of Education. https://studentaid.gov/help/fafsa. Accessed October 31, 2025.

^[2]  “What Is the FAFSA Form and Why Should I Fill It Out?” US Department of Education. https://studentaid.gov/help/fafsa. Accessed October 31, 2025.

^[3] “Federal Pell Grants.” US Department of Education. https://studentaid.gov/understand-aid/types/grants/pell. Accessed October 31, 2025.

^[4] “Direct PLUS Loans for Graduate or Professional Students.” US Department of Education. https://studentaid.gov/understand-aid/types/loans/plus/grad. Accessed October 31, 2025.

^[5] Hegji, Alexandra. “Eligibility for Participation in Title IV Student Financial Aid Programs.” Congress.gov. October 16, 2024. https://www.congress.gov/crs-product/R43159. Accessed October 31, 2025.

^[6] “FAFSA Application Deadlines.” US Department of Education. https://studentaid.gov/apply-for-aid/fafsa/fafsa-deadlines#fafsa-deadlines-2025-26. Accessed October 31, 2025.

^[7] “FAFSA Tips & Common Mistakes to Avoid.” National Association of Student Financial Aid Administrators. https://www.nasfaa.org/fafsa_tips. Accessed October 31, 2025.

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Deborah Spindler
University Director of Financial Aid, Financial Aid Administration, Alliant University

In the role of University Director of Financial Aid, Deborah Spindler leads the Alliant University Financial Aid Administration. The financial aid administration is committed to providing assistance to qualified students who would otherwise be unable to pursue their educational and professional goals.

Alliant offers federal financial aid, including Title IV financial aid, and scholarships for U.S. citizens and legal residents. Financing is available through scholarships, grants, part-time employment, and loans. The federal government, state government, Alliant, and private sources finance these programs.