First-time FAFSA applicant needing comprehensive guide for 2025-2026 application

Welcome to the group! I completely understand how overwhelming the FAFSA can be, especially with all the recent changes. Here's a basic rundown: 1. Documents you'll need: 2023 tax returns for both you and your student (if they filed), W-2 forms, records of untaxed income, and information about your assets (not including your primary home or retirement accounts). 2. Key deadlines: The 2025-2026 FAFSA should open October 1, 2024. The federal deadline is June 30, 2026, but your state and individual colleges will have much earlier priority deadlines (often February-March 2025). 3. Terms explained: SAI (Student Aid Index) replaced the old EFC and determines financial aid eligibility. The CSS Profile is a separate application required by some private colleges. Verification is when the Dept of Education selects applications to verify the information submitted. The biggest change is that the form is shorter and the SAI calculation works differently than the old EFC formula. More families might qualify for aid, but the changes can be confusing!

thx for joining! yeah fafsa is super confusing lol. i did mine last year and messed up like 3x before getting it right. just make sure u have all ur tax docs ready before u start the application otherwise you'll have to keep starting over

The most important thing to know is that with the new FAFSA, having multiple students in college doesn't provide the same benefit it used to. Previously, your EFC would be divided by the number of college students in your family, but the new SAI calculation doesn't do this automatic split. However, your $85k income with two students should still qualify for decent aid. The SAI calculation now has a higher income protection allowance, which helps middle-income families. For a family of four with $85k income, you'll likely qualify for more aid than in previous years, especially if you don't have significant assets outside retirement accounts. Start by creating FSA IDs for both you and your student at studentaid.gov - do this well before you need to submit the application as verification can take 1-3 days. And gather those 2023 tax documents now!

I HATE the new FAFSA!!! It's supposed to be "simpler" but it's just confusing in different ways. My daughter is starting college next fall and we spent HOURS trying to figure out the stupid contributor access. They make it sound like it's easier but it's NOT. And then after we submitted it took WEEKS to get the SAI back, with ZERO communication about what was happening. And don't get me started on the verification process. We got selected for that and had to submit even MORE documents. The whole system is designed to frustrate normal families!!

When I was trying to complete my son's FAFSA earlier this year, I kept getting stuck trying to reach someone at Federal Student Aid to answer questions about our unusual situation (self-employed with business losses). I spent HOURS on hold and kept getting disconnected. I finally discovered Claimyr (claimyr.com) which helped me connect with an actual FSA agent in about 20 minutes instead of hours on hold. They have a demo video showing how it works: https://youtu.be/TbC8dZQWYNQ It was a lifesaver for getting our specific questions answered about how business losses would affect the SAI calculation. Might be worth checking out if you run into issues that need personalized help!

One thing I want to emphasize for first-time FAFSA filers is to apply as early as possible after October 1st! Some aid is first-come, first-served, especially at the state level. Even if you think you won't qualify for need-based aid, the FAFSA is required for unsubsidized federal student loans and many merit scholarships. Also, create a folder system now to organize all your documents. You'll need: - 2023 federal tax returns - W-2s and other income records - Bank statements and investment records (not including retirement accounts) - Social Security numbers for you and your student - List of colleges your student is applying to (you can list up to 10 on the FAFSA) And don't worry too much about making a small mistake - you can make corrections after submitting if needed!

To answer your question about adding more schools: Yes, you can add more schools later! After your FAFSA is processed, you can log back in and add/remove schools. If you need to add beyond the 10-school limit, you can remove some schools to make room for new ones - your data will still be saved with the schools you removed. Another tip - the new FAFSA directly imports tax information from the IRS using the Data Retrieval Tool. This helps prevent errors and reduces the chance of being selected for verification. Always use this option if you can! Also, check if any of your schools require the CSS Profile in addition to the FAFSA. Many private colleges use this additional form for distributing their institutional aid. It's more detailed than the FAFSA and has a fee (though fee waivers are available).

my daughter just went through this whole process last year. biggest advice: START EARLY!! so many of her friends waited till december and missed out on tons of aid. also the css profile is way more detailed than fafsa so leave extra time for that if your kid applies to private schools

To answer your question about the CSS Profile timing - you can complete it anytime after October 1st as well, just like the FAFSA. The College Board administers it (collegeboard.org), and unlike the FAFSA that uses one formula for everyone, each school can customize how they use CSS Profile information. One big difference: CSS Profile considers home equity and retirement assets that FAFSA doesn't. It also asks about expenses like medical costs and elementary/secondary school tuition for other children, which can actually help demonstrate need. There's a fee of about $25 for the first school and $16 for each additional school. And yes, definitely prioritize schools that have earlier financial aid deadlines. Some have December priority deadlines, while others go into February-March.