Comment below: Are there any changes you want more information on? You can also get our full video on Maximizing Financial Aid with 2024-2025 FAFSA Changes by donating any amount you can here: thescholarshipsystem.com/donate
Of course we have 3 kids in school next year… would love for it to actually help but we shall see. Also hubby lost his job so may need to revisit how to adjust based on current status vs previous tax years:(
After you receive financial aid award letters, you may want to appeal to each school to take this into consideration. Make sure to check out our video on appealing financial aid.
The SAI may be sent via email a few days after submitting FAFSA or it can be found in the Submission Summary after FAFSA has been processed. You can find the Submission Summary in the FAFSA dashboard after logging into the account.
For 2024-2025 academic year, parents on the FAFSA will be the parent who provides the student with the most financial support and will no longer be the parent with whom the student lived with the most over the past 12 months
You process FAFSA as is. You would appeal to the school and explain your circumstance. The school is ultimately the one who makes the decisions on financial aid.
Question: If a student didn't file a tax form for 2022, do they still need to report their cash, savings, and checking account info? My son didn't file, and it's not giving him the option to fill in that info.
It depends. If they weren't required to file because they earned under a certain amount, that may be exempt from filling out the asset questions. But if he earned more than the amount but just didn't file, then he should still be filling out the asset questions.
I have not been able to use DRT due to identity theft and the system is not able to pull my data because it’s locked. How will I be able to get through that now?
Ifthe contributor has been flagged by the IRS, possibly due to identity theft or a breach of some sort to their information, then the IRS will notify the FAFSA processors via an electronic code indicating they are unable to provide the data. The FAFSA processors will notify you if this occurs and you will need to work with your financial aid office to rectify this.
If you have a negative amount it means that you will receive the maximum aid available from your school. However, that does not mean everything will be covered, since it depends on the school's financial aid policies and availability.
For the 2024-2025 academic year, FAFSA uses tax return information from 2022. 2023 taxes will be used for 2025-2026 academic year. If you don't file taxes, you can still file FAFSA, however, it may take longer to process.
All colleges are different and each have their own reasons for requiring financial information on merit awards, if they require it. Unfortunately, here is no one answer since each school calculates aid differently.
What if you filed taxes on paper? Last year we turned in a tax transcript because the retrieval did not work. Same this year will I be able to send a transcript because I could not file electronically?. Thank for your help.
In the past, you've still been able to use the DRT if filling a paper tax return, it just takes longer to be able to use that feature (usually 11 weeks after filing a paper tax return versus 3 weeks after filing electronically). But a copy of the tax return transcript has been sufficient for those who could not use the DRT in the past. It sounds like that may no longer be an option as they migrate to the new system - we suggest working closely with the financial aid office as you complete your FAFSA if you are still having an issue this year.
Every state has different deadlines. You'll need to check with your state for deadlines. You can check here: studentaid.gov/apply-for-aid/fafsa/fafsa-deadlines
Hi, I’m a student is thinking of changing colleges next year but does not know yet what college, should they still fill out the fasfa with the current college?
They'd want to list the current college plus all the other colleges they'd potentially attend. A college won't do anything with the information until the student is accepted.
That hate the middle class😢
Comment below: Are there any changes you want more information on? You can also get our full video on Maximizing Financial Aid with 2024-2025 FAFSA Changes by donating any amount you can here: thescholarshipsystem.com/donate
Of course we have 3 kids in school next year… would love for it to actually help but we shall see. Also hubby lost his job so may need to revisit how to adjust based on current status vs previous tax years:(
After you receive financial aid award letters, you may want to appeal to each school to take this into consideration. Make sure to check out our video on appealing financial aid.
Thanks for the great information. Since the ISIR is now a SAI (correct) where is it located in the form?
The SAI may be sent via email a few days after submitting FAFSA or it can be found in the Submission Summary after FAFSA has been processed. You can find the Submission Summary in the FAFSA dashboard after logging into the account.
Ugh. I have twins headed to college next year and one more child the following year. I will be anxious to see what the contribution per child is.
Us too!
I love that the new FAFSA makes it better for grandparents to own 529’s for grandkids college savings. I opened one last month & it’s doing great!
That's awesome!
I heard a while back that parents have to be legally separated in order to report as being separated? Is this still true?
Yes. However, you could request a special circumstance review by the school's financial aid office.
How about divorced parents? Will they only take the primary custody parent making a lot less money?
For 2024-2025 academic year, parents on the FAFSA will be the parent who provides the student with the most financial support and will no longer be the parent with whom the student lived with the most over the past 12 months
If our family has had a significant drop in income from 2022 - 2023, what is the process for noting this in the FAFSA process?
You process FAFSA as is. You would appeal to the school and explain your circumstance. The school is ultimately the one who makes the decisions on financial aid.
Is my understanding correct in that a student with a modified diploma cannot apply for financial aid?
What do you mean modified diploma?
In Oregon, a student can get a modified diploma which to my understanding isn’t good enough for college financial aid
Still waiting for FASFA to open🤔
Question: If a student didn't file a tax form for 2022, do they still need to report their cash, savings, and checking account info? My son didn't file, and it's not giving him the option to fill in that info.
It depends. If they weren't required to file because they earned under a certain amount, that may be exempt from filling out the asset questions. But if he earned more than the amount but just didn't file, then he should still be filling out the asset questions.
I have not been able to use DRT due to identity theft and the system is not able to pull my data because it’s locked. How will I be able to get through that now?
Ifthe contributor has been flagged by the IRS, possibly due to identity theft or a breach of some sort to their information, then the IRS will notify the FAFSA processors via an electronic code indicating they are unable to provide the data. The FAFSA processors will notify you if this occurs and you will need to work with your financial aid office to rectify this.
I recently completed my FAFSA form for 2024-2025 and noticed I had a negative Student Aid Index, is that a good thing or a bad thing?
If you have a negative amount it means that you will receive the maximum aid available from your school. However, that does not mean everything will be covered, since it depends on the school's financial aid policies and availability.
If both parents are married and file jointly, does each parent need to create a user name and id for FAFSA application
No - but it doesn't hurt for both to get an FSA ID just in case one parent forgets their information!
Very helpful. Thank you. Do you happen to know if FAFSA opens December 1st (tomorrow) or sometime later in the month?
It expects to open by December 31. So it could be anytime prior to that date.
Thanks for that. @@TheScholarshipSystem
So I doing my tax next year for the first time .. am I able to FAFSA this year ?
For the 2024-2025 academic year, FAFSA uses tax return information from 2022. 2023 taxes will be used for 2025-2026 academic year. If you don't file taxes, you can still file FAFSA, however, it may take longer to process.
❤❤❤❤
If a scholarship is truly merit based why do colleges need to see my financial information?
All colleges are different and each have their own reasons for requiring financial information on merit awards, if they require it. Unfortunately, here is no one answer since each school calculates aid differently.
What if you filed taxes on paper? Last year we turned in a tax transcript because the retrieval did not work. Same this year will I be able to send a transcript because I could not file electronically?. Thank for your help.
In the past, you've still been able to use the DRT if filling a paper tax return, it just takes longer to be able to use that feature (usually 11 weeks after filing a paper tax return versus 3 weeks after filing electronically). But a copy of the tax return transcript has been sufficient for those who could not use the DRT in the past. It sounds like that may no longer be an option as they migrate to the new system - we suggest working closely with the financial aid office as you complete your FAFSA if you are still having an issue this year.
Since the deadline changed for FASFA does that mean the deadline for state aid also changed ? I reside in Florida
Every state has different deadlines. You'll need to check with your state for deadlines. You can check here: studentaid.gov/apply-for-aid/fafsa/fafsa-deadlines
Hi, I’m a student is thinking of changing colleges next year but does not know yet what college, should they still fill out the fasfa with the current college?
They'd want to list the current college plus all the other colleges they'd potentially attend. A college won't do anything with the information until the student is accepted.
Mam how to apply for free High school
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