FAFSA didn't ask about my checking/savings accounts - only tax info - is this normal?

yea thats normal now! with the simplified fafsa they stopped asking about bank accounts directly. they just use ur tax info now, its part of the big changes they made

This is completely normal with the new streamlined FAFSA. As part of the FAFSA Simplification Act, they removed the questions about cash, savings, and checking account balances. The new SAI (Student Aid Index) calculation now relies more heavily on your tax information to determine financial need. They're using AGI, untaxed income, and tax filing status rather than asking about specific asset values like they used to with the old EFC calculation. The only assets they still ask about are investment properties and business net worth for some applicants.

You'll probably get flagged for verification anyways. That's what they did to me. Didn't matter what I put on the form, they still made me submit bank statements for the last 3 months AND a letter explaining where all my money came from. Total nightmare. The whole simplified FAFSA thing is a JOKE.

I was super confused about this too! I kept looking for the screen where I was supposed to enter my bank info, and I thought I had skipped something by accident. But then I read that part of the FAFSA simplification was removing certain questions about assets for most applicants. Honestly, it was such a relief because my savings account had like $4,300 in it that I was saving for a car repair, and I was worried it would hurt my aid eligibility even though it's not much money. The new process focuses more on your income through tax info rather than short-term cash on hand.

If you're still worried about your FAFSA submission or want to confirm everything was processed correctly, you should call the Federal Student Aid Information Center directly. Their number is 1-800-433-3243, but honestly the wait times are ridiculous - I was on hold for 2.5 hours last month. I ended up using Claimyr (claimyr.com) to get through to them much faster. They have this system that holds your place in line and calls you when an agent is available. Saved me so much time! They have a video explaining how it works: https://youtu.be/TbC8dZQWYNQ

Hmm, I think it depends on your dependency status and your parents' income level. My brother and I both filled out FAFSA this year, and he got asked about his bank accounts but I didn't. We think it's because our parents' income is under the new simplified needs threshold for me (I'm a dependent student) but my brother is independent so he got different questions. The FAFSA form adapts based on your answers - so maybe you just qualified for the simplified path?

wait now im confused are we supposed to report our savings or not??? i didnt get asked either but now i'm worried i messed up my whole application!!!

This happened to me too and I got my SAI score back no problem! You're fine!

Thank you everyone for the helpful responses! I feel much better knowing this is part of the simplified FAFSA and not a mistake on my part. I'll keep an eye on my application status and hopefully everything processes smoothly.

Just wanted to add that you can also check your application status on StudentAid.gov to make sure everything was submitted properly. I always get anxious after submitting too, but the new FAFSA really is much simpler. The fact that it let you submit without errors is a good sign - the system would have stopped you if something was missing. Good luck with your aid package!

I'm a newcomer to all this FAFSA stuff and this thread has been incredibly helpful! I was actually dreading filling out my application because I heard horror stories from older siblings about having to report every penny in their accounts. It's honestly a huge relief to know they've simplified the process. Quick question though - does this change affect how much aid we might get compared to previous years? Like, are students getting more or less aid now that they're not counting our small savings accounts against us?