Do You Know the FAFSA?

High school seniors have a busy year ahead of them! Students are dealing with successfully completing senior coursework, preparing for their education after high school, attending numerous senior activities, applying for scholarships, and so much more. Another important requirement of senior year is completing the FAFSA, which is the first step in applying for financial aid to help cover college expenses.

Did you know the FAFSA won’t be available until December?
Sweeping changes are currently being made to the 2024-25 FAFSA (Free Application for Federal Student Aid) that the senior class will be completing this year. Ordinarily a new FAFSA opens every October 1, but these changes have pushed the FAFSA release to sometime in December. This is all good news for you because the new FAFSA will have fewer questions to answer and will be a smoother, more automated process.

Did you know you must create an FSA ID to complete the FAFSA?
Everyone who contributes information to the FAFSA will be required to create a Federal Student Aid ID (FSA ID), which is a username and password unique to each person. The FSA ID also serves as your legal electronic signature. The information you and your parents use to create an FSA ID will go through a confirmation process which can take 1-3 days. Once the FSA ID is confirmed, applicants may begin the FAFSA application. We encourage everyone to create their FSA ID now  to ensure the FAFSA can be completed once it becomes available.

Did you know you and your parents should have your 2022 tax returns with you when completing the FAFSA?
One new feature of the 2024-25 FAFSA is that almost all of the financial information will be transferred electronically from the IRS directly to your FAFSA. Applicants may still be required to answer a few income/asset questions that aren’t downloaded from the tax return. The FAFSA will provide direction for those who did not file a tax return.

Did you know it’s best to have a list of your prospective colleges with you before starting the FAFSA?
The FAFSA will allow students to have their aid eligibility results sent to 20 different institutions, increasing your opportunity to compare the colleges, universities, and career technology centers you may be interested in attending.

Don’t wait! Create your FSD ID now. Review UCanGo2’s FSA ID Worksheet and the FSA ID flyer for assistance.