How can gap year students access financial aid?

If I take a gap year, will I still be eligible for financial aid when I start college? Are there specific steps I need to take to ensure I receive support once my gap year is over?

Yes, taking a gap year won't disqualify you from receiving financial aid when you start college. However, you will need to complete the Free Application for Federal Student Aid (FAFSA) during the year prior to when you plan to enroll in college after your gap year.

The FAFSA opens October 1st each year, and you'll be completing it using tax information from two years prior to the academic year for which you're applying for aid. For instance, if you're starting college in Fall 2026 after a gap year, you would complete the FAFSA starting October 1, 2025, using tax information from 2024.

There's also something you should be aware of called the Student Aid Index (SAI), which replaced the Expected Family Contribution (EFC) as the benchmark for determining financial aid. The SAI can be as low as negative $1,500, and isn't divided based on the number of students in college within a family. This can impact financial aid outcomes, especially for families with multiple children in college. You'll learn your SAI after you complete the FAFSA.

For institutional or state-specific aid, I recommend contacting the financial aid office at your intended college or checking the state's student aid website to understand how taking a gap year may impact your eligibility. Each institution or state may have its own rules or deadlines, and you'll want to make sure you meet all the requirements.

Moreover, merit scholarships from colleges that you've been offered before taking the gap year are typically deferred along with your admission, but you should confirm this with each individual school.

Remember, continue applying for scholarships even during your gap year. Scholarships are not just for high school Seniors, and there might be opportunities that could help ease the financial burden when you start your college journey.

Keep deadlines in mind, remain proactive, and ensure communication with your future college's financial aid office to make the transition after your gap year as seamless as possible.