First-time FAFSA parent with 2025 college freshman - basic education needed

Hey there! You're smart to start learning about this now instead of waiting until the last minute. For your daughter starting in Fall 2025, you'll need to complete the 2025-2026 FAFSA, which should open on December 1, 2024. The basic documents you'll need: - Your 2023 tax return (they use prior-prior year) - W-2 forms from 2023 - Records of any untaxed income - Current bank statements - Investment records (if applicable) And yes, the SAI (Student Aid Index) replaced the old EFC (Expected Family Contribution). The calculation is similar but more streamlined. It still looks at your income, assets, family size, and how many family members are in college. The biggest difference is that the SAI can actually go negative (down to -1500) which helps identify the students with the highest need for Pell Grants and other aid.

im in the same boat - my son starts colege next fall too! did you hear about the fafsa snafus this past year? i heard some ppl didnt get their aid packages until RIGHT before school started bc of all the delays with the new system. super nerve wracking

As someone who just went through the whole FAFSA nightmare with my son this year, my biggest advice is APPLY AS EARLY AS HUMANLY POSSIBLE! The new system had so many glitches, and we ended up having to call the Federal Student Aid office like 9 times to get things straightened out. And EACH TIME it was 2+ hours on hold only to get disconnected. I nearly lost my mind!!! The SAI calculation is supposed to be more "fair" but honestly it's still confusing as heck. Just know that they're going to ask about every penny you've ever earned or saved, and somehow they'll still expect you to contribute more than you can actually afford. 🙄

I used Claimyr when I needed to get through to FSA for my daughter's verification issues. It was so much better than waiting on hold forever. They connect you with an agent after they wait on hold for you. I watched their demo video at https://youtu.be/TbC8dZQWYNQ and then used their site claimyr.com - saved me hours of frustration! The FSA agent was able to fix our issue in like 10 minutes once we actually got connected.

One important thing that hasn't been mentioned yet: start gathering your FSA IDs now! Both you AND your daughter will need separate FSA IDs to access and sign the FAFSA. Getting these set up ahead of time will save you headaches later. Regarding the SAI calculation, the new formula removes some of the questions about small businesses and family farms that used to penalize some families. They've also changed how they treat multiple students in college at once. Under the old system, having multiple kids in college was a big advantage for aid eligibility. The new system reduces this benefit somewhat. Also, the income protection allowance has increased, meaning more of your income is shielded from the calculation. This is especially helpful for lower and middle-income families.

Don't get too excited about that income protection allowance - the system is STILL rigged against working parents!!! I make about $58k a year as a single mom, thought I'd get decent aid with the new system, and my SAI was still over $14,000!!! Like WHERE am I supposed to find an extra $14K per year??? The whole system is a joke and colleges just use it to extract as much money as possible from struggling families.

To answer your question about applying early - yes, absolutely apply as close to the December 1 opening as possible. Many colleges have priority deadlines (often February 1 or March 1), and some state grants are first-come, first-served until the money runs out. About the income levels that benefit most from the new system - generally families making under $60,000 with typical assets may see more favorable results, especially if they qualify for the simplified formula. The maximum Pell Grant has also increased to about $7,400 for the highest-need students. One other thing I'd recommend is checking if any of your daughter's potential colleges require the CSS Profile in addition to the FAFSA. It's a more detailed financial aid form used by about 200 mostly private colleges to distribute their institutional aid. It has a different formula than the FAFSA.

my cousin said dont bother reporting any retirement accounts on fafsa, they dont count them anyway and it just complicates things

You've all been so helpful! I've started a checklist based on your advice: 1. Create FSA IDs for myself and daughter (do this soon) 2. Gather 2023 tax returns and W-2s 3. Collect bank statements and any investment info 4. Apply as soon as the form opens on Dec 1, 2024 5. Check if potential colleges require the CSS Profile One last question - if we do run into issues with the application, what's the best way to get help? Is there an official guide or resource I should bookmark?

Totally agree with checking if colleges need the CSS Profile too! My daughter applied to 6 schools and 2 required both FAFSA AND CSS Profile. The CSS asks for way more financial info and costs $25 for the first school and $16 for each additional one. They do have fee waivers though if your income qualifies.

@Theresa Just be mentally prepared for how invasive these financial aid forms feel. They want to know EVERYTHING - your income, savings, home equity (for some schools), even child support. I felt like I needed a financial advisor AND a therapist after filling everything out! 😫 Oh and make SURE you're using the official studentaid.gov site. There are scam sites that charge you to fill out the FAFSA which should always be FREE!