Do married parents both need separate FAFSA accounts or can we use just one?

Only one parent needs to create an FSA ID and submit the FAFSA application. The contributing parent (whoever is filling it out) will enter information for both spouses since you file jointly. You'll need to provide combined income information from your tax return. Make sure whoever creates the account remembers their login details because that same parent will need to update the FAFSA each year.

we both made accounts last year and it was a HUGE hassle! just have 1 person do it trust me lol

No, you don't both need accounts. I've been submitting the FAFSA for my twins for 3 years now. Only one parent needs an FSA ID. However, I STRONGLY recommend you decide which parent will be the "FAFSA parent" and stick with that person for all 4 years of college. When your Student Aid Index (SAI) calculation is done, they track by the FSA ID of the submitting parent, and switching parents between years can sometimes trigger verification flags or delays. So pick whoever is most organized with passwords and financial documents!

Make sure one of you gets verified with ID.me too! That step delayed our entire application by 2 weeks because I submitted everything and THEN found out about needing verification. Total nightmare trying to reach someone at FSA to figure out why our application was stuck in processing. 🤬

i think it depends on if ur dependant or independent?? like if ur daughter lives with one of u more

We ran into a weird situation where I (the dad) created the account but didn't realize my wife's income details were required for some sections. Had to get all her W-2s and other stuff last minute which was stressful. Make sure whichever of you does it has ALL the financial docs for both of you ready to go! The most time-consuming part was gathering all the asset information for both of us.

To directly answer your original question: Just one account is needed. For the documents, you'll need your federal tax return, W-2s for both spouses, records of untaxed income (if any), and current bank account/investment information. If you use the IRS Data Retrieval Tool (which I highly recommend), it will automatically pull most of your tax information into the FAFSA form, saving you time and reducing the chance of errors.

Yes, a 529 plan owned by the grandparents actually has different reporting requirements than it used to. Under the new FAFSA simplification, 529 plans owned by grandparents no longer need to be reported on the FAFSA form itself. This is a significant change from previous years. However, when distributions are taken from that plan, they also no longer count as untaxed income to the student. This is great news as it means the grandparent-owned 529 won't impact your daughter's financial aid eligibility at all.

Just wanted to add one more tip since you mentioned this is your first time - make sure to submit the FAFSA as early as possible! Even though the federal deadline isn't until June, many states and colleges have much earlier deadlines for their own aid programs. Some are as early as February or March. Since aid is often awarded on a first-come, first-served basis, submitting early can make a big difference in the amount of aid your daughter receives. Good luck with the process!

I just went through this process last month with my son! One parent FSA ID is definitely the way to go. I'd also suggest setting up a dedicated folder (physical or digital) with all your FAFSA documents now - tax returns, W-2s, bank statements, investment records, etc. Having everything organized in one place will make the actual application process so much smoother. Also, if your daughter doesn't have her own FSA ID yet, she'll need to create one too since students need their own account to sign the FAFSA electronically. Don't stress too much though - the new simplified FAFSA is actually much easier than the old version!