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10 Important Changes To The Fafsa Form This Year

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The Free Application for Federal Student Aid is a form completed by current and prospective college students in the United States to determine their eligibility for student financial aid. The FAFSA is different from CSS Profile, which is also required by some colleges.
When is the FAFSA filing date?
Typically, parents of college students would prepare their paperwork now so they can file the FAFSA in October.
In 2021, a FAFSA Simplification Act was approved, and those changes go into effect when filing this year for the 2024-2025 award year. That means there is a massive change to the student aid program.
“As a result, it’s taking a little bit longer for the federal government to get the FAFSA form ready, so they’re anticipating that it’s not going to be ready until December of this year. However, the following year, it will return to the October 1st date.”
No filing date has been announced yet but Tillman said that when it is announced, it’s always best to fill out the FAFSA early because aid is awarded on a first-come-first-serve basis.
Also, keep in mind that the FAFSA is not a one-time filing deal. The FAFSA must be filled out every year the student is in college to reapply for financial aid.
Federal Pell Grants usually are awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor's, graduate, or professional degree. (In some cases, however, a student enrolled in a postbaccalaureate teacher certification program might receive a Federal Pell Grant.) You are not eligible to receive a Federal Pell Grant
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Опубликовано:

15 авг 2024

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Комментарии : 81

@yanmamabear5734 9 месяцев назад

What if parents are divorced, student lives with the mom who is also the primary financial supporter, but per divorce settlement, the child is claimed on the dad’s income tax filing. Who is the parent that needs to fill out the FAFSA?

@pattyfazzini 11 месяцев назад

You're helping so many people with your knowledge!

@suegolbek5915 5 месяцев назад

Thank you Ed! Our son is graduating from Pequannock Township High School this June 2024!

@Sam-zu5uu 7 месяцев назад

Good luck to everyone filling out the form!! -Augsburg (MN) University 2027

@GK-nk4bm 7 месяцев назад

Hi, my understanding is that the parent who is considered for the FAFSA is the parent that provides the "majority of the support," regardless of who claims the student on their taxes. I've watched other videos and read pages of materials that seem to support this, but I think I heard you say it would need to be the parent that claims for IRS purposes. Would you please clarify? Thank you for the video - very helpful!

@hanavaughan6956 7 месяцев назад

You’re amazing for helping people like this.. thank you ❤ good karma for sure You always get when you give generously and freely First financial aid RU-vidr I have come across who offers more help with any questions an individual may have ❤️ God bless 🙏🏽

@kathyblunt1239 10 месяцев назад

This is so helpful!! Thank you My son goes to Passaic county voc tech.. he will graduate 2024

@overrunwithboys216 8 месяцев назад

QUESTION : One of the NEW parts is being a "CONTRIBUTOR" - I heard if so, then each "contributor" is required to have a FAFSA ID , which requires them to apply for this BEFORE filling out the FAFSA so you have it at hand.. In previous yrs, myself , the MOM was the only one who needed the FAFSA Id (never my husband, we are married, we file Jointly on our Tax returns). WIll my husband NOW need a FAFSA Id also , or if Married, still only (1) parent , as our Taxes are filed Jointly every year?

@nanaantadze-xp3ii Год назад

Thank you Ed for your help 17:39

@imani406 10 месяцев назад

When completing the FASFA, are you obligated to report the funds in all of your checking and savings account or just your primary checking and savings? How would they know if bank account information is omitted and not reported? If I received payouts from retirement for example which increased my income for the year and this isn’t my usual annual income, can I simply put my annual income on the FASFA or does it have to be the amount reflected on my taxes? Thank you for all of your support!

@chuckadams2752 10 месяцев назад

Ed, Great video ... very informative. However, any chance you could not speak so fast and also record in a room where the acustics are not so echoed? Had to rewind several times

@ryanacook12 8 месяцев назад

Hi Ed, great content, thanks for the support with this. Does the 24-25 FAFSA account for married filing separate? Prior years this situation was not allowed to for the tool to access the IRS and pull down our tax info. Is there any special instruction on filling this out manually? Do I just take the separate figures from the the two different forms and add them together? Thanks for any help on this.

@mynameisgrace28 9 месяцев назад

Thank you for everything you do! I really appreciate these videos ^^

@venturework 11 месяцев назад

Great info! Thanks Ed! Columbia HS Class of '25

@clarkerots9348 6 месяцев назад

Thank you for the information Ed. West Morris Central HS Class of 2024

@glennxcampsan5812 6 месяцев назад

My EFC is zero, my SAP is satisfactory. I was given a Pell grant then I signed an offer letter for almost $3++ grand this semester then after a week, I told i was not eligible for the grant. Since they say my EFC is higher than my COA but on the offer letter they have me sign is that I have zero EFC and a $13131 COA. On my fafsa account it said im eligible for the 7300+ grant this semester. So I dont know whats going on. My college financial aid now is showing zero grants.

@michaelmarasco1777 10 месяцев назад

If your AGI is less than $60K, does the FAFSA form omit the questions related to assets? Or do you enter your asset information regardless and FAFSA omits the asset information from the financial aid calculation?

@user-qw1ws7tf5s 6 месяцев назад

This was awesome, thank you!

@laurabellinirealtor4051 11 месяцев назад

Ed- what happens when the parents are divorced and they alternate claiming the child on their taxes?

@TeufelHund 8 месяцев назад

1) So, if a parent has 529 plan for the student, will that impact the new criteria? If it does can that 529 plan be put in a grandparents name to avoid it being calculated? 2) If parents receive Earned Income Credit how does that effect the application and also, how would that effect the money held in a 529 plan, what is the threshold for an EIC receiving family?

@user-pp1xo8bo7o 6 месяцев назад

What if you're on your own, no one else helps you. What's the max amount a single person can make to get all the benefits (living in Cali, going to school same state)

@jennifermarquardt1592 6 месяцев назад

We are using our using the 2022 taxes for the 2024-25 Fasfa but what about the other info such as child support? Do I use the child support received in 2022 or 2023?

@nataliadimatteo2673 7 месяцев назад

Thank you for this info. David Brearly high school Kenilworth NJ. June 2024

@brookepalmer1543 9 месяцев назад

Great video! Can you elaborate, or point me in the direction of where to get more information about how a family farm is counted? I can't seem to find any current information that gives enough details about how it will work and what will be required.

@soniajacobs1996 4 месяца назад

Since my sons father claimed him for the 2022 tax year, can we use his income for 2024-2025 FAFSA application?

@jennifermarquardt1592 6 месяцев назад

@yanmamabear5734 asked this question a couple months ago but I cannot find your answer. Can you guide me to where to find this info? What if parents are divorced, student lives with the mom who is also the primary financial supporter, but per divorce settlement, the child is claimed on the dad’s income tax filing. Who is the parent that needs to fill out the FAFSA?

@nanaantadze-xp3ii Год назад

What is legal separation document in NJ?what will be required to provide, attorneys don’t know

@nanaantadze-xp3ii Год назад

As per attorney in New Jersey Separation doesn’t exist, so what prove can we provide if there’s no court order? What is legal separation for them in Nj ?

@jenniferfanara-dainty1251 7 месяцев назад

Hi, great video. Just to clarify I do not need to report our 529 under investments Or anywhere else?

@mariaalonso8100 8 месяцев назад

Thank you! Paramus HS class of 2024

@vizerlanddecorandrentals 7 месяцев назад

How do i correct my SSN because its saying that my information is not matching and it won't allow me to proceed. I have been calling and no one is picking up

@AndaB-ls2xh Год назад

Thank you very much for all the info - very helpful. The link for "The Introductory Video For The James Russo Memorial Scholarship" doesn't work - error says video doesn't exist. So, how can we apply for the 2023-2024 scholarship? Can you please enter the link into comments? Thank you.

@user-ej6ui6vg5p 8 месяцев назад

I just got married in 2022. But my 2021 taxes I was single. It says my taxes are not matching up.

@matthewspatz2389 Год назад

Thanks, again, Ed!

@user-ed2iu9vk4j 10 месяцев назад

Great info! Thanks Ed! Son @ Passaic County Technical Institute. Class of '24

@nathanblake8613 9 месяцев назад

Tremendous...thank you

@carolinasilva7993 11 месяцев назад

Thanks for all the info! Q: you mention that we'll be using 2022 taxes for the 24-25 academic year. Do you mean the taxes we completed and submitted in 2022 (wages from 2021) OR wages from 2022 (taxes submitted in 2023?)

@milenamichaelidis7900 7 месяцев назад

Is there a form I can filed as well to let them know my husband has been unemployed for the last year and I am only provider for my household if 5 people.

@judy.hsiaochun 9 месяцев назад

Thanks for your quick summary. For the new FAFASA from 2024-2025, does 529 education fund still counting toward student's or parent's assets? also, if my child is ED (early decision) taking into the consideration that FAFASA application won't even start until early December, what are things (financial aspects) that I need to be look out?

@amitsng 7 месяцев назад

Hi Ed, This has been quite useful Thank you for this information. I do have one question, though. I have twins who will be applying for FAFSA for 2024-25. Based on your comment on multiple students applying, is there something different that I should be doing, or is appeal the only recourse? Thank you

@carolcyn-lewis9158 10 месяцев назад

What happens if you were not required and did not file 2022 taxes

@nyameyen.4060 10 месяцев назад

Thanks very much for the insightful information. How do I handle submitting application for twins? Can I use the same email or account?

@galaxydefender1033 8 месяцев назад

if the information is going to be retrieved automatically, would you be able to check what information was retrieved? will you see your information before submitting?

@elizabethcorrea4020 Год назад

Hi... question...can you add only income of one parent even if they filled joint. They are and haven't been together, but for some reason continue filling together. My mother filled for divorce but her taxes together with her exspouse do not qualify me for help. How can I fix that...alone my mother does not even make 40k a year for her and me. That is all our income. Her ex-spouse is not even my parent...I do not receive extra income from anywhere other than my mom having two jobs. Are there any other documents I can use to prove my moms true income without using her tax return?

@DebraBonomi 8 месяцев назад

Thank you for all of your information! If parents do not claim their child on their tax returns, does that remove the University from taking into account the parent's income, etc?

@jameshess2912 8 месяцев назад

Can someone help me to answer this question: why do they move the application for college students to December 31?

@maryzwally1754 11 месяцев назад

Thanks! Mount Saint Mary’s class of 2025

@velinerice3648 7 месяцев назад

Does parents savings affect fafsa application? Thanks you will answer me.

@kennethbailey3043 8 месяцев назад

Do you have to list your primary house as an asset and what if you have a second house?

@lovepeace9460 9 месяцев назад

Hi. Does fafsa offers a free money for medical school students or all loans? Thanks

@ericacox5263 10 месяцев назад

Do you have to report workers compensation, Wc is not taxed

@lenspicks 10 месяцев назад

Good morning Mr Z My older son is getting ready to Apply for FASFA I have a living trust on a second home who’s is left to a family member as this is a family home which is passed down to my other son will this effect my son who is applying for the FASFA this year Thank you

@jacquelinesene2751 11 месяцев назад

Henry Becton high school NJ my daughter will graduation in May 2024

@Alastresdeldia123 10 месяцев назад

Thank you so much for your information! Passaic County Technical Institute class of 2024

@lordx202 11 месяцев назад

Hey ed , really important question. MY parenst income is aorund 50-55K and both my siblings are in college getting full financial aid, would me getting a job in my senior year of hs , potentially lower me and my siblings financial aid? Or is there a limit to how much money i can make before it has an effect on me. (my family consists of 2 parents 4 siblings, one elderly), only my dad makes money.

@mariekeyoung1050 8 месяцев назад

At long as you don’t make more than $7000, it won’t affect your FAFSA bc you don’t have to file taxes bc of your low income. So short answer: no, it wouldn’t affect your aid.

@danielhuq3631 10 месяцев назад

Don Bosco prep at Ramsey NJ student Noah Huq

@kooliz4e 8 месяцев назад

New date is now Dec 31st

@frankmiguel9480 10 месяцев назад

What do I do if I divorced since 2022?

@traceyduggard1686 Год назад

I filled out the FAFSA October 1st, before the site crashed. I uploaded taxes from the irs retrieval system, And Then her school asked for a verification. They didn’t complete the verification until February 2023 and said they ran out of some financial aids. I did everything right. What should I do this time around?. The school didn’t even start asking for the verification forms until January

@traceyduggard1686 Год назад

Work study was already filled up but she was eligible. Supplemental grants in addition to financial aid was gone. I need this not to happen this year

@thomascallanan5972 7 месяцев назад

Thanks Ed. Hanover Park Hs Class of 2024

@courtneyredfern3865 Год назад

My ex-husband and I are legally divorced. We have two kids, one starting college in 2024-25. Our divorce decree states that he can claim the other (non-student) kid on his taxes every other year; otherwise I (mom) claim them both. We have 50/50 custody and he pays child support, so he is the parent who provides more financial support. We assumed he would do the FAFSA but the tax returns will have me claiming the student. We want him to do the FAFSA even though I have lower income, because I also have significantly more non-retirement assets. Is it going to be a problem that I am the one claiming the student on the taxes even though we are saying (correctly) that he is providing more support because of the child support?

@daryldixon5280 11 месяцев назад

Christopher hauser w8ben

@elsamontoya1764 9 месяцев назад

Hello! Im in same situation, did he answered

@courtneyredfern3865 9 месяцев назад

he did not@@elsamontoya1764

@mayrasanchez4173 8 месяцев назад

Me too!

@blancaflores2276 7 месяцев назад

Does anyone know if students want to dorm.. how they can apply for that?

@MrTexaz101 7 месяцев назад

If your student wants to live in the dorms they most likely need to apply at the College. -TX A&M SA requires the student to also buy the meal plan when living at their dorms.

@blancaflores2276 7 месяцев назад

@@MrTexaz101 🤔 that wasn't like that on the other fafsa forms.. students selected what they wanted to apply for in campus or not. The award letter will then tell them how much is cover and how much is the student part.