Changes to FAFSA 2023: A Student and Parent’s Guide
Define FAFSA
The FAFSA is a form you fill out to request funds from the government for student finance. This is the first thing you need to do to receive financial aid. States and colleges also use his FAFSA information to determine if you are eligible for assistance programs.
What Makes “Better FAFSA” Better?
The U.S. Congress has passed the FAFSA Simplification Act to make it easier for students to obtain financial aid. Improvements to FAFSA simplify forms by reducing the number of questions and automatically capturing tax information from tax returns. The goal of this streamlined process is to help more students fill out forms and pursue a college education without incurring excessive debt.
In addition, Better FAFSA removes traditional barriers related to eligibility and income. This will expand access to federal Pell grants so that students who are incarcerated or impacted by school closures are eligible for financial assistance.
Overall, her future FAFSA changes will be beneficial as they help more students access higher education.
Expected changes with better FAFSA application
safety! Here are some of the expected changes to FAFSA applications for the upcoming academic year.
FAFSA is shorter. Your application will contain fewer questions, making it quicker and easier to complete. This will allow more students and families to apply for financial aid.
FSA ID Requirement: To complete FAFSA, you must create a new FSA ID and go through a verification process. This increases security and allows applicants who do not have a social security number to apply.
Student Aid Index (SAI): Instead of Expected Family Contribution (EFC), a new measure called SAI determines your ability to pay for college tuition. Unlike EFC, SAI can go up to -$1,500.
New Needs Analysis Formula: Changes to the formula remove the consideration of family members in college and place more emphasis on factors such as family size, composition, and income. Federal Poverty Tables are used to determine eligibility for federal Pell subsidies.
Family Roles: After completing FAFSA, each family member is assigned a role. This means that students will only see questions that are relevant to them, and parents/spouses will only see questions that are relevant to their role. This simplifies the process for everyone.
Covering drug convictions and elective services questions: Previously, applicants had to disclose drug convictions to confirm enrollment in elective services. These questions will no longer be included in his FAFSA.
Expanded College List: A student can now enter up to 20 colleges on her application, instead of her previous 10.
These changes are intended to improve the FAFSA experience, increase access to financial aid, and streamline the application process for students and their families.
Our Thoughts on FAFSA Changes
The FAFSA (Free Application for Federal Student Aid) changes are actually good, helping more students get financial aid to college. Some may worry that these changes will result in additional fees or having to choose another school, but speak directly to the financial aid office for clear information. is important.
Don’t think college is outrageous because of initial costs or concerns about insufficient government support. Many universities offer programs to support students like you and ensure that they complete their education financially. trust us they want to help.
To learn more about FAFSA changes and the new Better FAFSA, click on these changes.
Seek Scholarships to Supplement Federal Financial Aid
This article provides links to additional resources related to FAFSA (Free Application for Federal Student Aid). These resources are designed to help students and families complete the FAFSA form and understand various aspects of the financial assistance process.
Here’s a breakdown of what each resource contains:
Documents Needed to Complete the FAFSA Form: This article describes the types of documents and information you need to complete the FAFSA form. We help you collect all the documents you need to provide accurate financial information.
Who is the parent on the FAFSA form?:
This resource explains who should be considered the parent when completing the FAFSA form. This helps determine what parental information should be included and provides guidance for different family situations. How to protect your assets with FAFSA: This article provides strategies and information on how to legally protect your assets as you complete the FAFSA.This provides insight into how certain assets can be excluded or minimized to potentially increase eligibility for financial aid.
Does FAFSA have to be repaid?
This resource explains that FAFSA itself is an application for financial assistance and does not have to be repaid. This clarifies that FAFSA is used to determine eligibility for various types of financial aid such as grants, scholarships and student loans.
Find Scholarships That Complement Federal Financial Aid:
This section encourages students to consider scholarships that complement Federal Financial Aid. We encourage you to use your free Cappex account to access our comprehensive list of scholarships, save scholarships that interest you, and apply later.
These resources bring together practical information, tips, and tools to help students and families navigate her FAFSA process and explore additional funding opportunities through scholarships.
