FAFSA 2025-2026 suddenly asking for bank statements - major change from last year?

yeah same here!! i was like wtf when i saw that. never had to put my bank info before. seems sketchy tbh

This is actually a legitimate change for the 2025-2026 FAFSA. The simplified FAFSA that rolled out last year initially didn't request bank information, but they've modified the formula this year to include more detailed asset information for SAI calculation. The Department of Education announced this change quietly in their April update. They now want to see cash balances, investments, and other assets to get a more complete financial picture beyond just the tax information they pull from the IRS.

I KNEW IT!!! This is exactly what I warned people about when they "simplified" the FAFSA last year. First they say they're making it easier, then they start adding back all the invasive questions one by one. Next they'll be asking for our social media accounts and what we spend on groceries! The whole system is designed to give less aid by finding every penny you have.

Yes, I went through this two weeks ago and was also surprised by the bank account questions. I called the Federal Student Aid hotline to verify it was legitimate (took FOREVER to get through) but they confirmed it's part of the new requirements. I ended up entering my information since they said all applications now require it.

I had the same issue trying to reach someone at FSA about this bank account question. After multiple failed attempts with the regular phone line, I used Claimyr.com to get through to an agent in about 10 minutes. They have a service that navigates the phone system and calls you back when they have an agent on the line. Saved me hours of frustration. They have a video showing how it works: https://youtu.be/TbC8dZQWYNQ. The agent confirmed that yes, the bank account information is now required for all 2025-2026 FAFSA applications.

Just a head up - they don't just want the bank balance from the day you fill out the form. They're looking for your average daily balance over the past 3 months. I had to go back and correct my application after I realized this. Make sure you're reporting it correctly or you might get flagged for verification.

does anyone know if they check ur bank accont info against ur tax return?? i might have some cash that wasnt on my taxes lol

To clarify a few things about the new bank account requirements: 1. They're asking for balances at the time of filing, not historical averages (the previous comment was incorrect) 2. This includes checking and savings accounts only, not retirement accounts 3. The information is used to calculate your Student Aid Index (SAI), which replaced the old EFC 4. There is an asset protection allowance based on the age of the oldest parent, so not all bank assets count against your aid eligibility 5. If your income is below $60,000 and you file simplified tax returns, you may still qualify for the simplified needs test and skip these questions

Thanks everyone for the information! I went ahead and submitted my application with the bank account information. The FSA website now shows my application is processing. They said my Student Aid Index calculation should be available in 3-5 business days. I'm still not thrilled about having to provide this information, but at least I know it's legitimate now.

I'm going through the same thing right now and this thread has been incredibly helpful! I was also caught off guard by the bank account questions since I filled out the FAFSA for my older sibling last year and it definitely didn't ask for this. It's reassuring to know this is a legitimate change and not some kind of scam or error. I appreciate everyone sharing their experiences - it makes me feel more confident about proceeding with the application.

I'm a parent helping my daughter with her FAFSA and had the exact same reaction when I saw the bank account questions! I actually stopped the application halfway through because I thought something was wrong. This thread has been so helpful in confirming it's legitimate. One thing I'd add - if you have multiple bank accounts, make sure you include all of them. The instructions weren't super clear on this, but when I called (using that Claimyr service someone mentioned - worked great!), they confirmed you need to report the total across all checking and savings accounts. Thanks everyone for sharing your experiences!

I'm a newcomer here but dealing with this exact same issue! Just wanted to thank everyone for sharing their experiences - I was completely panicked when I saw those bank account questions pop up. Like many of you, I immediately thought it might be a scam or that I was on the wrong website. It's such a relief to know this is legitimate, even though I'm still not thrilled about having to provide this information. The lack of clear communication from the Department of Education about this change has been really frustrating. I wish they had sent out notifications or updated their guidance materials to let families know what to expect. Thanks again to everyone who took the time to call and verify - it's saved the rest of us a lot of stress and confusion!

I'm new to this community and just went through this exact same experience! I was filling out my 2025-2026 FAFSA yesterday and completely freaked out when I saw the bank account questions. Like so many others here, I thought it was a scam or that I had somehow ended up on a fake website. I actually closed the browser and started over three times because I was so suspicious! This thread has been a lifesaver - thank you to everyone who took the time to call and verify this information. It's really frustrating that the Department of Education didn't do a better job communicating this major change to families. A simple email or announcement on their website would have saved so many of us from this confusion and stress. I'm still not comfortable sharing my bank information, but at least now I know it's legitimate and I can move forward with my application.