Starting FAFSA prep for 2025 high school senior - what timeline should we follow?

Welcome to FAFSA hell lol. My daughter graduated in 2024 so we just went through all this. Start gathering 2023 tax returns for BOTH parents if you're married/divorced with custody arrangements. You'll need W-2s, 1099s, bank statements showing assets as of application date. The new FAFSA uses SAI (Student Aid Index) instead of EFC but it's basically the same concept. The application for 2025-2026 should open October 1, 2024. Mark your calendar!!

The most important thing you need to know is that both you AND your son need FSA IDs before you can even start the application. Give yourself at least 2-3 weeks before the October opening to set those up because the verification process can take time. And yes, you'll each need separate FSA IDs with different email addresses. Start collecting your financial documents this summer so you're not scrambling in October. Also know that the earliest schools' priority deadlines are usually early November, so being ready on day one is critical for maximum aid eligibility.

this happened to my nephew too... they waited til december to apply and missed out on like $4000 in grants from one school. dont wait!!!

In addition to the great advice already shared, here's an organized timeline for FAFSA preparation for your 2025 high school senior: - Spring/Summer 2024: Research colleges and their financial aid policies. Some schools require both FAFSA and CSS Profile - Summer 2024: Create FSA IDs for both you and your son (studentaid.gov) - September 2024: Gather financial documents (2023 tax returns, W-2s, current bank statements, investment records) - October 1, 2024: FAFSA becomes available for 2025-2026 school year - October 2024: Submit FAFSA as early as possible (ideally within first two weeks) - November 2024-February 2025: Complete any verification requests promptly if selected - December 2024-March 2025: Review Student Aid Index (SAI) and financial aid offers The new FAFSA is much more streamlined than previous versions, but preparing everything ahead of time is key. Remember that your 2023 tax information will be used, not 2024.

Yes, the CSS Profile is different from FAFSA. While FAFSA is used for federal aid (Pell Grants, federal loans, work-study), the CSS Profile is used by about 400 private colleges and some scholarship programs to award their institutional aid. It's more detailed than FAFSA and does have a fee (though fee waivers are available for eligible families). Unlike FAFSA, CSS Profile looks at home equity, small business assets, and non-custodial parent finances if parents are divorced. Not every school requires it - typically it's more selective private colleges. You'll need to check each school's financial aid website to see if they require it.

One thing nobody mentioned yet - if you have multiple children in college at the same time, that significantly impacts your SAI calculation! I have twins who started college last year, and our expected contribution was much lower than families with similar income but only one student. If you have other children who will overlap with your 2025 graduate, make sure to indicate that on your FAFSA. Also, when my twins were applying, we kept getting disconnected or put on eternal hold when trying to reach FSA with questions. I found Claimyr (claimyr.com) which got me through to an actual human at Federal Student Aid in about 10 minutes instead of hours. They have a video showing how it works: https://youtu.be/TbC8dZQWYNQ. It was honestly worth it when we had verification issues that needed solving quickly before deadlines.

watch out for those priority deadlines!!! each school has different ones. my kid almost missed out on housing last year bc we didnt know housing applications were tied to fafsa completion at her school. also the verification process is a PAIN especially if you have any complicated family situation like divorce etc. they made us submit the same documents like 3 times i swear

My son started college in 2023 and I wish someone had told me how the different types of loans work. Make sure you understand the difference between Direct Subsidized, Direct Unsubsidized, and Parent PLUS loans. With subsidized loans, interest doesn't accrue while your student is in school, which is a huge benefit! Also, when you get aid packages, pay attention to the mix of grants/scholarships (free money) versus loans (not free). Some schools will advertise a big "aid package" that's mostly loans, while others might offer a smaller package that has more grants.

I ALMOST FORGOT - make sure your son's name on the FAFSA EXACTLY matches his Social Security card. My daughter goes by her middle name and we accidentally put that instead of her legal first name and it caused a HUGE delay getting everything processed. Same with birthdates and SSNs - triple check before submitting because fixing errors can set you back weeks or even months in the process.

One last recommendation: after you submit the FAFSA, take screenshots of the confirmation page and save the confirmation email. Document everything in this process. If you call FSA, note the date, time, and representative's name. If you have to submit additional documentation, keep copies and proof of submission. The financial aid system can be bureaucratic, and having a paper trail has saved many families from missing out on aid due to processing errors or lost documentation.