This year, though, will be different for families who have previously completed the FAFSA. The FAFSA is getting its first major overhaul in 40 years to streamline the application process and make it easier for more students to complete it.
Here are a few things to know about the new 2024-25 “Better FAFSA,” as it has been branded by the Office of Federal Student Aid (FSA):
- The Free Application for Federal Student Aid (FAFSA) will open by December 31, 2023.
- Both students and their parent(s) or guardian(s) must complete the FAFSA and consent to have their tax return information pulled.
- Financial information will be pulled directly from the IRS so having your taxes in order is more important than ever.
- More families will be eligible for the Pell Grant, but previous factors like having multiple children in college will no longer be considered.
You can learn more about the Better FAFSA at https://studentaid.gov/