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Yes, you need to complete the FAFSA every year. Financial aid eligibility is reassessed annually because family circumstances can change. Each FAFSA application covers one academic year only. Some information will transfer from your previous application, but you still need to update income information and confirm all details each year.
Thank you everyone for the helpful information! I just wanted to update - we successfully completed our renewal FAFSA yesterday. My son logged in first, started the renewal application, and then invited me as a contributor. I received the email about 10 minutes after he finished his part. The process was much smoother than last year since we already had our FSA IDs set up. One tip: they've added some new asset questions this year, so have your latest statements ready. Also, the SAI calculation showed up immediately after submission, which was nice compared to the long wait last year!
congrats!! did your sons SAI go up or down from last year? ours went up by $5k and we didnt make any more money so I dont understand why!!
After trying for weeks to reach someone at FSA about a similar issue, I finally got through using Claimyr (claimyr.com). The agent told me there was a flag on my daughter's application that wasn't showing up on the portal. Apparently this happens quite often with the new FAFSA. They were able to resolve it during the call, and her SAI was calculated within 48 hours. The video demo shows exactly how it works: https://youtu.be/TbC8dZQWYNQ
any updates??? did u get through to someone? my friend is having the same issue now and im curious what happened
Success! Finally got through to FSA this morning after trying that Claimyr service someone recommended above. Turns out there was a mismatch between how my name was entered on the FAFSA and how it appears in the tax system (I go by my middle name, but my legal first name is on my taxes). The agent fixed it while I was on the phone, and they said the SAI should be calculated within 3-5 business days. Such a relief!
Speaking of FAFSA problems, has anyone else noticed that the new SAI calculation seems completely off? My family income actually decreased this year but somehow my SAI is $4,500 higher than last year's EFC. Makes no sense whatsoever.
UPDATE: Success! The incognito mode + keyboard navigation suggestion worked perfectly! I was able to enter my husband's birthdate and complete the contributor section. For anyone else having this issue, here's exactly what worked: 1. Chrome incognito window (Ctrl+Shift+N) 2. Logged into studentaid.gov 3. Used only Tab key to navigate between fields 4. Entered the date as MM/DD/YYYY with the forward slashes Now I'm finally able to submit our FAFSA! Thank you all for the help!
you know there may be loan forgiveness coming right??? shoulda waited maybe??? biden was talking about canceling like $10k for everybody, coulda saved some of that settlement money
The latest FAFSA loan forgiveness proposals are currently held up in court, and there's no guarantee when or if they'll be implemented. For someone going through adoption qualification where timing matters, waiting for potential forgiveness that might never come isn't practical advice. Plus, adoption agencies want to see actual debt reduction, not potential future reduction.
Congrats on being debt free!!! Quick question - did you have to pay taxes on your settlement? And will you have to pay taxes on the loan payoff? I know sometimes debt cancellation is considered taxable income, not sure if this is the same situation.
Great question. Personal injury settlements are generally not taxable income at the federal level. And since this wasn't debt cancellation but rather a complete payoff using personal funds, there's no tax implication for the loan payoff either. The OP essentially used their non-taxable settlement to pay a debt, which doesn't create a taxable event. However, state tax rules can vary, so it's always good to consult with a tax professional.
Zara Rashid
Based on your follow-up comments, I can now see this is specifically a CU Boulder issue. Colorado law (C.R.S. §23-7-102) clearly establishes that domicile for tuition purposes requires physical presence and intent to make Colorado your permanent home.\n\nBoulder appears to be misapplying the \
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Chloe Anderson
This is INCREDIBLY helpful! Thank you for the specific statute and contact information. I've been asking for the legal basis for their decision and they keep giving vague answers. I'll email that address at the state level today and request the meeting with the actual Tuition Classification Officer, not just their assistants. This gives me hope that I might be able to resolve this!
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