How to get organized before tackling new FAFSA forms

Families, working to figure out how to pay for college, will soon get a chance to fill out new federal student aid forms.

The Free Application for Federal Student Aid, or FAFSA, is getting an overhaul with a new application and new formulas to calculate financial aid. In past years, students could start on the form in October. This year, the application start is delayed. The Education Department says the new application will have a “soft launch” by Sunday, December 31.

During the soft launch, the Federal Student Aid office says it won’t share FAFSA eligibility results with schools until later in January. Users may see a waiting room feature to help manage website volume – according to the office.

Read on for steps families can take to prepare to fill out the new form.

“HOW ARE WE GOING TO PAY FOR ALL THIS?”

With one adult child already in college, Kristin Roan is working through the college application process for her second. He’s graduating high school in May.

“It's mind-blowing how hard it is. Then we haven't even gotten to how are we going to pay for all this. We have two,” Roan said.

Back when her oldest was in high school, Roan remembers spending hours on the FAFSA form, “It was very tedious and it took a long time. I finally got it back and then we got no money.”

For the 2024-25 academic year, the Education Department says students will see a streamlined FAFSA form with fewer questions. Applicants will be asked to transfer federal tax return information directly from the IRS into the FAFSA.

CREATE AN FSA ID

Completing the FAFSA is a key step to qualify for federal financial aid and find out what’s available to help pay for school.

 “Things like the Pell Grant, federal work-study, student loans, and state governments and colleges also use the information on the FAFSA to distribute and award their own financial aid,” said Nalia Medina with the National Association Of Student Financial Aid Administrators.

Families will see a new term on the form: contributor. Federal Student Aid says a contributor may include the student, a parent, or a spouse. Each contributor on a student’s FAFSA form will need their own login credentials, an FSA ID, to complete the application. If you don't already have an FSA ID, you can start the process now.

“These FSA IDs will be taking about three days to be created and verified. So, we're really urging folks to get a head start on this process,” Medina said.

Another step you can take: talk to your family. Be prepared to fill in each FAFSA form contributor’s name, birthdate, Social Security number and email address. Let each contributor know to be on the lookout for a link to fill out their part of the FAFSA form. For those without an SSN, you can find out how to create an account here.

“I plan on getting on it right away,” said Jess Silva, a parent of a high school senior in Dallas.

Silva said her oldest will be filling out a FAFSA form for the first time.

“The game plan will be just a sit down with my daughter and talk through the questions,” Silva said.

There is an online Federal Student Aid Estimator available to offer an estimate of how much federal student aid a student may be eligible to receive.

You can bookmark this webpage to follow updates on when the new FAFSA will be available.

NBC 5 Responds is committed to researching your concerns and recovering your money. Our goal is to get you answers and, if possible, solutions and a resolution. Call us at 844-5RESPND (844-573-7763) or fill out our customer complaint form.