Everything a college advisor wants parents to know about the recent changes to FAFSA

Alexandra Frost
·3 min read
2

The FAFSA is all but a bad word on the to-do lists of parents and college-bound students, with lots of rules and caveats and paperwork to do. But, it’s a must to make college accessible and affordable for many. So, Ashley Logan, Director of College Advising at I Know I Can, tells Motherly readers how to be the boss of the FAFSA, and leave no money on the table.

But first — what the heck is the FAFSA?

If you are new to the college prep game, you might need a refresher. The FAFSA stands for Free Application for Federal Student AId and is a government-created document that helps students apply for federal grants, work-study programs, and loans. The document determines your federal aid eligibility, and some colleges use it to award additional aid. To read more about it, check out the government’s nifty flow chart on the steps.

What are the FAFSA changes this year?

Logan wants parents to take note of the following changes to this year’s FAFSA:

The timing: Traditionally, the FAFSA application opened Oct. 1. This year, because of federal legislation (2020 Cares Act) and changes the USDOE is making to simplify the form, the FAFSA application won’t be available until “sometime in December” (so far there isn’t a date released), she explains.

“The change in application release timing is significant because students and their families will have a smaller window to work with to complete the FAFSA. This impacts both high school seniors preparing for college this year, and students currently in college who need to renew each year based on tax filings,” she says, adding students already in college who might not be as aware of the change should take note.

Simpler form collection processes: Some of the changes include simplifying the way financial and tax information is collected, as well as updates to the methodology for calculating aid eligibility

Why should parents care?

With FAFSA completion being the highest indicator of college enrollment, it’s important that this year’s high school seniors, current college students and their families know of these changes, Logan explains. “There is an advantage to submitting the FAFSA form as soon as possible after the application window opens because sometimes financial aid awards are made on a rolling basis – meaning the sooner you submit, the better chance you have of getting the maximum amount of aid you are eligible for.”

What should parents do next?

  • All college students regardless of income level should fill out the FAFSA as it opens doors to grants (need-based), scholarships, loans and more

  • The US Department of Education recently released a prototype of the 2024-2025 FAFSA application

  • There are a few things students and parent can do now to make sure they are ready to fill out the FAFSA once the application is released in December:

  • Create your FSA ID at www.studentaid.gov. People should make sure to get the FAFSA ID set up at least a week before they want to fill out the FAFSA

  • Start compiling the data you will need for filling out the FAFSA: SSN, full name, date of birth, phone number/email address

Also, visit: Better FAFSA FAQ, from the National College Attainment Network (NCAN), a good resource for information for parents.