Just wanted to add - make sure your parents know they can work on their sections simultaneously! I was worried they'd have to do it one at a time, but the system allows both parents to log in and complete their parts at the same time. This can really speed up the process if you have cooperative parents. Also, if either parent runs into technical issues with their FSA ID creation, they should try using a different browser or clearing their cache - that solved my mom's login problems.

As someone who just went through this process with my parents last month, I can confirm everything others have said is correct! Both married parents must complete their sections even when filing taxes separately. One tip that saved us a lot of headaches: have both parents create their FSA IDs BEFORE you start your FAFSA application. This way when you send the invites, they can immediately access their sections instead of having to go through the ID creation process which can take 1-3 days for verification. Also, make sure they have all their tax documents ready beforehand - W-2s, 1099s, etc. The process goes much smoother when everyone is prepared!

As a parent with a junior who's been following this discussion closely, I wanted to add one more perspective that might be helpful for families like ours. I've been researching FAFSA preparation for months now, and this thread has confirmed so many things I've been reading about. One thing I haven't seen mentioned yet is the importance of understanding how different types of assets are treated on the FAFSA. For example, retirement accounts (401k, IRA) aren't counted as assets, but regular savings and investment accounts are. This knowledge can help families make strategic financial decisions during the junior/senior year period if they're planning major purchases or financial moves. Also, I've learned that grandparent-owned 529 plans are treated differently than parent-owned ones on the FAFSA, which could be important for families with grandparents who want to help with college costs. The timing of when these distributions are made can affect future year aid eligibility. For families like mine who are trying to maximize aid eligibility while still being financially responsible, understanding these nuances has been crucial. I'd recommend consulting with both a tax professional and possibly a college financial planning specialist during junior year if your financial situation is complex. Thanks to everyone who's contributed to this amazing resource of a thread!

As a parent new to this community and process, I'm incredibly grateful for this comprehensive discussion! My daughter is also a junior, and I've been feeling overwhelmed about where to even begin with college planning and financial aid. Reading through everyone's experiences has transformed what felt like an impossible mountain to climb into manageable, actionable steps. The timeline breakdown has been especially helpful - I now understand that we'll essentially be juggling college applications and FAFSA submission simultaneously in fall 2025, rather than doing one before the other. The emphasis on submitting the FAFSA as early as possible after October 1st is a message I'm hearing loud and clear from multiple parents who've been through this! I'm planning to start organizing our financial documents this summer, create FSA IDs in September 2025, and definitely try that practice FAFSA account that was mentioned. The tip about building relationships with financial aid offices during senior year is something I never would have considered but makes perfect sense. One question I have: for families who might need to travel for college visits, is it better to do most of that during junior year/summer before senior year, or can it wait until after applications are submitted? I'm trying to balance the financial cost of travel with making informed college choices. Thank you all for creating such a supportive environment for first-time parents navigating this process!

I'm so sorry for your loss, and I really admire how you're thinking ahead about your son's financial aid despite everything you're going through. Everyone here has given you excellent advice about keeping it as a parent asset - that 20% vs 5.64% assessment rate difference is absolutely crucial at your income level. One thing I wanted to add that I learned the hard way: if you do decide to put some of this toward your IRA (which is a great strategy since retirement accounts don't count on FAFSA), make sure you understand the contribution limits and deadlines. For 2024, you can still contribute up to $7,000 to an IRA until April 15, 2025. If you're over 50, it's $8,000. That could be a perfect way to shelter most of this inheritance while still keeping some accessible for emergencies. Also, don't forget that the FAFSA will need to be renewed every year your son is in college, so this strategic thinking about assets will be relevant for multiple years, not just his freshman year. You're being really smart to get this right from the start.

I'm sorry for your loss, and I want to echo what everyone has said about keeping this as a parent asset - the assessment rate difference is significant enough that it could impact your son's aid package by over $1,000. One additional strategy to consider: if you have any high-interest debt (credit cards, personal loans), using part of this inheritance to pay that down before filing FAFSA could be financially beneficial in multiple ways. You'd reduce your reportable assets while also saving on interest payments, which effectively gives you more money available for college expenses. Just make sure to keep documentation of any debt payments in case financial aid offices have questions about asset changes. The retirement account strategy others mentioned is excellent too, especially since you're in the age range where catch-up contributions are allowed. Whatever you decide, you're asking the right questions and clearly thinking strategically about your son's future despite dealing with a difficult time.

Just to clarify a few points: 1) Only the custodial parent completes the FAFSA (you, in this case), 2) Child support received DOES count as untaxed income on the FAFSA, but money your ex pays directly to the school is handled differently, 3) If you've remarried, your current spouse's information must be included regardless of their relationship to your son. The Direct2Student section of the FAFSA has a great worksheet specifically for divorced/separated parents that might help you organize the information before you start filling out the actual form.

I went through this exact situation two years ago! Since your son lives with you primarily and you're covering most expenses, you're definitely the custodial parent who should complete the FAFSA. One thing that helped me was keeping detailed records of all expenses I paid vs. what my ex contributed - made it much easier to determine the 50%+ support requirement and accurately report everything. The new FAFSA is actually much clearer about divorced parent situations than the old one was. Don't stress too much about it - sounds like you have a straightforward case where you're clearly the custodial parent.

btw make sure u tell ur son to check his email from those new schools. sometimes they send important financial aid follow-up stuff right away and if u miss those emails it can mess up getting aid packages

Just wanted to add that you can also track the transmission status through your FSA ID account dashboard. There's a section that shows when your FAFSA data was last sent to each school and the transmission date. This gives you peace of mind that the system actually processed the school additions correctly. I found this really helpful when I was in a similar situation last year - it clearly showed the dates when each school received the updated information, which was about 4 days after I added them to the list.