3 Changes To FAFSA: Summary of Changes

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Want the full changes for 2024-2025 school year? Get a copy of our members-only FAFSA Updates Q&A here: thescholarship.... Donate any amount (we want it accessible to all! but please keep in mind this can save your family thousands of dollars per school year!) and get a copy of the Q&A outlining all the updates coming your way!
You’ve probably heard that there are BIG changes to FAFSA when it opens in a few days or maybe you’re always on the lookout for FAFSA updates but you don’t really know what changes to expect.
Submitting the FAFSA is the most important thing you can do if you want financial aid for your student so in this video, I’m going to share with you 3 of the biggest changes to FAFSA that are happening and why the changes in the first place.
00:00 Intro
01:31 FAFSA
04:26 Shorter Form
05:01 DRT is required
05:42 Number of students
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P.S. International Students - This information is meant for US citizens and/or residents in the United States. While many of the tips will be helpful for you (i.e. how to write a well-written essay), we are not specialized in international student scholarships.

Опубликовано:

15 авг 2024

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Комментарии : 45

@blessedgirl2050 8 месяцев назад

That hate the middle class😢

@missycurtis3389 8 месяцев назад

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:(

@TheScholarshipSystem 8 месяцев назад

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.

@erikasammond5822 7 месяцев назад

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!

@TheScholarshipSystem 7 месяцев назад

That's awesome!

@cdg8650 2 месяца назад

Thanks for the great information. Since the ISIR is now a SAI (correct) where is it located in the form?

@TheScholarshipSystem 2 месяца назад

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.

@aimeemcmanus1867 8 месяцев назад

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.

@TheScholarshipSystem 8 месяцев назад

Us too!

@ameeshayang8949 4 месяца назад

I heard a while back that parents have to be legally separated in order to report as being separated? Is this still true?

@TheScholarshipSystem 4 месяца назад

Yes. However, you could request a special circumstance review by the school's financial aid office.

@brendathompson4939 7 месяцев назад

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.

@TheScholarshipSystem 7 месяцев назад

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.

@dojbertoch 7 месяцев назад

If our family has had a significant drop in income from 2022 - 2023, what is the process for noting this in the FAFSA process?

@TheScholarshipSystem 7 месяцев назад

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.

@carriegolden6593 8 месяцев назад

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?

@TheScholarshipSystem 8 месяцев назад

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.

@coachclaudiaweir2025 8 месяцев назад

How about divorced parents? Will they only take the primary custody parent making a lot less money?

@TheScholarshipSystem 8 месяцев назад

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

@kayperkayful 6 месяцев назад

Is my understanding correct in that a student with a modified diploma cannot apply for financial aid?

@TheScholarshipSystem 6 месяцев назад

What do you mean modified diploma?

@kayperkayful 6 месяцев назад

In Oregon, a student can get a modified diploma which to my understanding isn’t good enough for college financial aid

@virgnthermostat5928 7 месяцев назад

Still waiting for FASFA to open🤔

@lin_ezedon 8 месяцев назад

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.

@TheScholarshipSystem 8 месяцев назад

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.

@ptannus2008 7 месяцев назад

If both parents are married and file jointly, does each parent need to create a user name and id for FAFSA application

@TheScholarshipSystem 7 месяцев назад

No - but it doesn't hurt for both to get an FSA ID just in case one parent forgets their information!

@miket.9388 7 месяцев назад

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?

@TheScholarshipSystem 7 месяцев назад

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.

@angiemar673 8 месяцев назад

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?

@TheScholarshipSystem 8 месяцев назад

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.

@hoochrocks 8 месяцев назад

Very helpful. Thank you. Do you happen to know if FAFSA opens December 1st (tomorrow) or sometime later in the month?

@TheScholarshipSystem 8 месяцев назад

It expects to open by December 31. So it could be anytime prior to that date.

@hoochrocks 8 месяцев назад

Thanks for that. @@TheScholarshipSystem

@dadjokes5038 8 месяцев назад

Since the deadline changed for FASFA does that mean the deadline for state aid also changed ? I reside in Florida

@TheScholarshipSystem 8 месяцев назад

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

@PrettyThings00 7 месяцев назад

So I doing my tax next year for the first time .. am I able to FAFSA this year ?

@TheScholarshipSystem 7 месяцев назад

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.

@preetkaur6344. 2 месяца назад

❤❤❤❤

@MrGootam-sk6jo 8 месяцев назад

Mam how to apply for free High school

@TheScholarshipSystem 8 месяцев назад

Our content is for students living in the US attending college in US.

@andreahanlon2030 8 месяцев назад

If a scholarship is truly merit based why do colleges need to see my financial information?

@TheScholarshipSystem 8 месяцев назад

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.

@TheScholarshipSystem 8 месяцев назад

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