A family completing the FAFSA for the 2025-2026 academic year will use the 2023 tax return. The use of verified tax returns from the prior prior year reduces the need to use estimates on the form. While filling out the form, students and parents are required to disclose i...
This may not be the same parent who claimed you as a dependent on their tax return. The rules for the CSS Profile are different, and unlike the FAFSA may require both parents financial information if they are divorced. Should I complete the CSS Profile or FAFSA first?
The FAFSA has new rules for divorced parents of dependent students. Starting with the 2024-25 form, the parent who provided the most financial support for the student over the last 12 months will be the FAFSA contributor. If this parent is remarried and didn’t file their taxes jointly, the...
As stated above, if your parents are divorced, you’re required to provide the income of the parent provides more financial support. If this parent is remarried, you’ll also include that stepparent's information on the FAFSA®. So, if you lived with your dad five days out of every we...
To help determine your eligibility, the FAFSA will ask several questions about you and your parent’s income, assets, and investments. You may also have to provide general information, like names, addresses, and driver’s licenses, for you and your parents. ...
Warning: The EFC rules are different between the Federal Methodology and the Institutional Methodology. Here are three examples and there are many more differences. When you contribute to or receive payments from a Medical Savings Account the FM considers this a Non-Assessable Income event and the...
: Some students think they aren't eligible for financial aid because of their parents' income, but many factors go into the FAFSA. Here's some expert advice. 5 Simple Mistakes to Avoid on the FAFSA: Regardless of your financial need, you should probably fill out ...
If you’re filing the FAFSA® as a dependent student, you’ll need to include information about at least one of your parents for your application to be processed.
AGI is less than or equal to 225% of the poverty line for single parents, 175% of the poverty line otherwise. The student aid index is automatically set to zero if the student is eligible for the maximum Pell Grant. If the student is not eligible for a Pell Grant under these rules, ...
Records of your untaxed income, such as child support received for you and for your parents if you are a dependent student. Information on cash; savings and checking account balances; investments, including stocks and bonds and real estate (but not including the home in which you live); and...