College Money Method
Counselor Resource Center for the new FAFSA
Welcome to the Counselor Resource Center for New FAFSA.
I am building this center to help you get the most up-to-date information on the 2024-25 FAFSA and guide you in supporting dependent students through this new process.
This information is based on multiple sources, including Federal Student Aid (FSA) summer training webinars, National Association of Student Financial Aid Administrators (NASFAA) 2023 National Conference and National College Attainment Network (NCAN)-Federal Student Aid (FSA) Train-the-trainer Summit. I also use the latest information published on Federal Student Aid Knowledge Center.
Also note that the Department of Education continues to release new information and update existing information. I will be doing the same. It’s my commitment to have the most timely and accurate information. If you have any questions about specific guidance or information that needs updating, please contact me.
Looking for a quick guide to the key FAFSA changes?
Download this 2024-25 FAFSA Simplification Summary Sheet to get a side-by-side comparison of the key changes in terminology, process, and eligibility.
Topics
Given the number of changes to both the requirements and the process, I’ve broken this information down into key areas of change. Each section has details on new rules and requirements, as well as a Q&A format to provide answers to questions you’ll be getting from students and parents.
New requirement for a Federal Student Aid (FSA) ID
Every contributor to the FAFSA is required to have an FSA ID, even parents without a Social Security Number.
New requirement to consent to share Federal Tax Information
Every contributor to the FAFSA is required to provide consent for the IRS to share Federal Tax Information, even students or parents that do not file US tax returns.
New rules for single, separated or divorced parents
For separated or divorced families, the “custodial” parent is simply the parent providing greater financial support.
Changes to reporting family size
Family size will be determined by dependents on the US tax returns.
Changes to reporting parent income
Income will come directly from the IRS, eliminating many forms of untaxed income.
Changes to reporting parent assets
There are three significant changes to how parents report assets.
Paths to excluding parent assets from eligibility calculation
FAFSA has revised the rules and created three different paths where parents will no longer report assets.
New: Federal Student Aid demo of the 2024-25 FAFSA application
Watch this video recording of the Federal Student Aid demo of the 2024-25 FAFSA experience for a dependent student with married parents. You can navigate to specific sections of the FAFSA using the chapters in the video timeline.