In the words of the rabbit in Alice in Wonderland, “I’m late, I’m late, for a very important date!”
The good news is YOU AREN’T LATE! FAFSA is. Every year since the beginning of what seems like forever, FAFSA has opened on October 1st for the next school year application. This year is different.
There are major changes and improvements coming to the 2024–25 Free Application for Federal Student Aid (FAFSA®) form. As a result, the new form will be available in December 2023, not October 1. The launch date will apply only for the 2024–25 FAFSA form featuring a more streamlined application process.
Major Changes in the 2024-2025 FAFSA
The new expected date is sometime in December of 2023. To be prepared to fill out your FAFSA, have your 2022 tax documents ready to go. We are all expecting big changes to the FAFSA for next year. Some of those changes include:
Currently only available in English and Spanish, the new FAFSA will be in 11 different languages.
FAFSA will be shorter and more user friendly.
Students can list up to 20 colleges.
Applicants will be required to use the IRS data exchange tool. This has had major issues working for many in the past so this will be a welcomed change.
All contributors must provide financial information
The number of family members in college will no longer be considered when calculating the student aid index. You will still be asked the question but it won’t change your financial picture. Some individual schools may still consider making adjustments for families with multiple college students.
Some students will automatically be awarded a Pell Grant.
Students from divorced families will find a welcome change with the FAFSA. Only the parent who has provided the most financial support with be required to submit financial information.
Families who have small businesses and family farms will now have to consider those as assets.
Overall, I think the changes in the FAFSA will work in the student’s favor. While I recommend EVERY student fill out the FAFSA EVERY year, I still 100% believe funding your education through scholarships is the best option available. At Imagine Scholarships, we have scholarships for ALL students. Our students find an average of $22K in scholarships if they are committed to applying to 3-5 scholarships per week. I understand some students have to take out student loans, but my goal is to make that as minimal as possible. Take a look at why I prefer scholarships over student loans.
Scholarships and Loans for College
A small monthly investment in Imagine Scholarships can have an incredibly large return on your investment of $16.99 per month. If you aren’t already using Imagine Scholarships, jump in today and join the thousands of other students finding quality scholarships with the peace of mind that we always protect your privacy and never share or sell students’ information. In addition to scholarships, we have hundreds of internships and videos to help you through the college admissions process and be successful in your college and career.
We have a FAFSA guide will all the details you need to know! Grab your copy today.