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The FAFSA is a relatively easy form to fill out, as it lets parents link to their previously filed tax returns to answer the financial questions. It has now been streamlined to just 36 questions ...
The Free Application for Federal Student Aid, better known as the FAFSA, has long been due for an update. On December 30, a new version of the form was released – a culmination of changes ...
The federal financial aid form looks different in the 2024-25 school year. Here's what college students and parents need to know about the new FAFSA.
Oct. 3—Changes are on the way this year for the Free Application for Federal Student Aid, more commonly known as FAFSA. The University of Texas Permian Basin is here to help explain the changes ...
The FAFSA Deadline Act in 2024 made the October availability date part of the law. [8] The 2016–2017 academic year was the final time the FAFSA was not made available until January 1. [7] Two-year old US tax information is used to complete the financial sections of the FAFSA beginning with the 2017–2018 academic year.
Since FAFSA formulas assume 20% of a student's assets can be used for college expenses as opposed to 6% of a parent's assets, advisors recommend moving funds from student to parent accounts before filing the FAFSA, including moving funds to a parent-controlled 529 plan tax-advantaged account. [88]
To qualify for need-based aid a student must have a significant amount of financial need, which is determined by the federal government based on the FAFSA. Using the information submitted on the FAFSA, the U.S. Department of Education calculates a figure called the Expected Family Contribution (EFC). If the EFC is less than the cost of ...
ED kept its promise of launching the 2024-25 FAFSA by the end of 2023, although just barely. The department called its Dec. 30 occasion a soft launch of the form .