FAFSA

The FAFSA (Free Application for Federal Student Aid) is the application submitted to determine if a student is eligible to receive federal and state grant money for college. The FAFSA for Fall 2024 opens for completion by December 31, 2023 (it will go back to October 1 in 2024). To qualify for need based aid, all applicants must file the FAFSA. Starting with the Class of 2022, seniors have to complete the FAFSA, the TASFA, or opt-out waiver to graduate!

For Fall 2024, significant changes to the Free Application for Federal Student Aid (FAFSA) process to into effect:

• The new FAFSA® form will be shorter (fewer questions)
• The language on the FAFSA® is more closely aligned with the language on income tax returns
• The SAI (Student Aid Index) replaces the EFC (Expected Family Contribution), and contains new formulas for calculating eligibility. In particular: 
  • Having multiple children in college will no longer reduce SAI, which may result in reduced eligibility for financial aid for some families.
  • Qualified 529 distributions from grandparents, etc. will not reduce aid
  • Education savings accounts will only be counted if designated for the specific student. (ESAs for other children won’t be considered.)
• Eligibility for the Pell Grant is expanded to families earning 225% of the poverty line (so about $67,500 for a family of four)
• For divorced parents, families will need to report the higher-earning parent (previously, they reported the parent that the child resided with more often)
• Stays the Same – Use Earlier Income Information: Students report income information from an earlier tax year (prior prior). For example, on the 2024–25 FAFSA, students (and parents, as appropriate) will report their 2022 income information (already filed).

SCAM ALERT - The FAFSA is absolutely free. If you are on a website that is requiring a fee for processing the FAFSA, you are not on the correct website.

Steps to Complete the FAFSA:

1. Prior to completing the FAFSA, all “contributors” (student, parent 1, and parent 2, if necessary) must apply for a Federal Student Aid (FSA) ID so that they may sign the application electronically. The FSA ID is the user name and password students will use to access all Federal Student Aid websites, including FAFSA.gov. It takes about 10 minutes to create an account and set up an FSA ID. FSA IDs should be gotten ahead of completing the FAFSA so the DDX tool can be used.
   
   For dependent students, at least one “contributor” (parent) will also need to create an account and set up an FSA ID to sign the FAFSA.
   
   “Contributor” refers to anyone who is required to provide information as part of a student's FAFSA, such as a parent/stepparent. Previously, these contributors were referred to as Parent 1 and Parent 2. The way in which a student answers questions in the FAFSA will determine which contributors (if any) will be required to provide information. Being a contributor does not mean they are financially responsible for the student's education costs, but it does mean the contributor must provide information on the FAFSA or the application will be considered incomplete. If the student is required to included information from contributors in their FAFSA, and does not, the FAFSA will remain incomplete and a calculation for federal aid eligibility cannot occur.
   
   Because you need to complete the FAFSA for each year you are in college, you will want to record and keep you and your parents’ login information in a safe place.

2. Complete the FAFSA at  https://fafsa.gov/ 
   When applying for financial aid, you'll need your FSA ID, income tax returns, W-2 forms and other records of income. A complete list of what is needed is on the FAFSA site.
   For 2024-2025, the 2022 taxes that were filed in 2023 will be used.

2023-2024 FAFSA – Paper Copy

2023-2024 FAFSA on the Web Worksheet – English   Spanish

FAFSA Submission Deadlines:

• College Deadline – Check with the college(s) you are interested in attending. You may also want to ask your college about its definition of an application deadline - whether it is the date the college receives your FAFSA or the date your FAFSA is processed. 
• State Priority Deadline – Texas = For 2024-2025, March 15, 2024.  The priority deadline will return to January 15 for following years.
  Texas public colleges: For priority consideration, submit your application by January 15, 2024. Additional forms may be required. 
  If planning to attend college in another state, check here for other state deadlines.
  Texas private colleges: Check with your financial aid administrator. Additional forms may be required.  
• Federal Deadline – Online applications must be submitted by midnight Central Time, June 30, 2024. Any corrections or updates must be submitted by midnight Central Time, September 23, 2024.

Best Resources for Getting Help with FAFSA – Not a government site, but it has good information for students and parents

How to Complete the FAFSA  (from College Board)

FAFSA – The How-To Guide for High School Students (and the Adults Who Help Them)

Ultimate FAFSA Resource Guide (Smart Scholar)

FAFSA Resources (Edvisor)

Who is My Parent on FAFSA? - Especially important for students who have divorced parents or if they are living away from their parents at this time.

FAFSA Tips and Common Mistakes to Avoid

28 Places to Get Help with the FAFSA – Includes links to FREE FAFSA web resources, to in-person FAFSA help, to toll-free help, and to financial aid/FAFSA Webinars

Your FAFSA Connection: Info, Answers, Tools – An extensive set of FAFSA tips and information.

Financial Aid, Scholarships, and Student Loans 101- Includes 12 videos and 22 lectures to help understand these topics