What’s Changed for the 2024–25 FAFSA® Form?

Summary

The 2024–25 FAFSA form introduces six key changes aimed at streamlining the financial aid process. These updates include the introduction of the term 'contributor' for spouses or stepparents, a direct IRS data transfer to the form, and new consent requirements. Additionally, both the student and contributors must have StudentAid.gov accounts, and users can now track their FAFSA status online. Lastly, students can send their completed form to up to 20 schools, making the process more flexible. For more information, students are encouraged to visit StudentAid.gov.

Takeaways

• 😀 Contributors, such as a spouse or stepparent, may be required to participate in the 2024–25 FAFSA form.
• 😀 The term 'Contributor' is new in the 2024–25 FAFSA and will play an important role in the form's completion.
• 😀 Federal tax information will now be transferred directly from the IRS into the FAFSA form to determine eligibility for federal student aid.
• 😀 Consent and approval from you and your contributors are now required for the IRS data transfer to be completed.
• 😀 If consent is not given by you or your contributors, you will be ineligible for federal student aid.
• 😀 Contributors who don't have a Social Security number or filed taxes outside the U.S. still need to provide consent and approval.
• 😀 Each individual completing the FAFSA form, including contributors, must have a unique StudentAid.gov account username and password.
• 😀 Contributors without a Social Security number can still create a StudentAid.gov account to fill out their required sections of the FAFSA form.
• 😀 You can now track the status of your FAFSA form and contributor progress through your StudentAid.gov account.
• 😀 Once the FAFSA form is completed, it can be sent to up to 20 schools, including colleges, career schools, or trade schools.
• 😀 For more information and guidance on the FAFSA process, visit the official StudentAid.gov website.

Q & A

What is a 'contributor' on the 2024–25 FAFSA form?

A 'contributor' is a new term referring to a spouse or stepparent who may need to provide information on the FAFSA form. This person plays a role in the student's financial aid process.

Why is it necessary for contributors to participate in the FAFSA process?

Contributors must provide their financial information because their income and assets are considered in determining the student's eligibility for federal student aid.

What change has been made regarding tax information on the 2024–25 FAFSA form?

The IRS tax information will now be automatically transferred into the FAFSA form, making the process more streamlined and accurate.

What must students and contributors do for the IRS data transfer to be used in the FAFSA?

Both students and contributors must provide consent and approval for the IRS data transfer to take place. Without this consent, the student will not be eligible for federal student aid.

What happens if a contributor doesn't have a Social Security number or didn't file taxes?

Even if a contributor doesn’t have a Social Security number or didn’t file taxes, they still need to provide consent for the IRS data transfer. If they don't consent, the student will not qualify for federal student aid.

Do students and their contributors need to create an account on StudentAid.gov?

Yes, both students and their contributors need their own StudentAid.gov account with a unique username and password to access and complete the FAFSA form.

Can a contributor who doesn't have a Social Security number still create a StudentAid.gov account?

Yes, a contributor without a Social Security number can still create a StudentAid.gov account to complete their section of the FAFSA form.

How can students track the progress of their FAFSA form?

Once the FAFSA form is started, students can monitor the status of their application and see the progress of their contributors through their StudentAid.gov account.

How many schools can students now send their FAFSA form to?

Students can now send their FAFSA form information to up to 20 schools, including colleges, career schools, and trade schools.

Where can students go for more information about the FAFSA process?

For more information, students can visit StudentAid.gov to get detailed guidance and answers about the FAFSA process.