When does FAFSA usually run out of money?

I've been stressing about financial aid, so I want to know when FAFSA usually stops giving money? Like, is there a deadline I should keep in mind while applying? Any help would be appreciated!

Firstly, it's important to understand that FAFSA (Free Application for Federal Student Aid) is an application process, not a fund that runs out of money. What you're probably referring to are the federal, state, and institutional funds that are made available to students who fill out the FAFSA.

There isn't a single deadline you need to worry about when it comes to financial aid, though, because there are multiple sources of funding with different deadlines. I'll break it down for you:

1. Federal aid: The FAFSA for the following academic year becomes available on October 1. The federal deadline to submit your FAFSA is June 30, but you should try to submit it as soon as possible after October 1 because some aid is indeed distributed on a first-come, first-served basis.

2. State aid: Each state has its own FAFSA deadline for state-funded programs. You can check the deadlines for your state on the FAFSA website or your state's financial aid office. Note that some states have limited funding, so submitting your FAFSA early can increase your chances of receiving aid from state sources.

3. Institutional aid: Colleges and universities have their own deadlines for financial aid applications, which often includes the FAFSA. Make sure to check the financial aid websites of the schools you're interested in to learn about their deadlines and any additional forms they may require.

To put it simply — there isn't any official deadline when the financial aid fund dries up, but the sooner you submit your FAFSA, the better. While there are a lot of different routes to receiving aid, submitting your FAFSA early can increase your chances of receiving aid from sources that operate on a first-come, first-served basis. Keep track of the federal, state, and institutional deadlines to make sure you don't miss out on any financial aid opportunities.

Good luck with your journey to an affordable college experience!