The Better FAFSA: What You Need to Know (2024)

Fill out the 2024-25 FAFSA today!

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Higher education opens doors to opportunity.

The U.S. Department of Education is making transformational changes to the Free Application for Federal Student Aid (FAFSA®) form. The FAFSA form is an application that students and families need to complete to apply for federal student aid, such as federal grants, work-study funds, and loans. Completing and submitting the FAFSA form is free, and it gives students access to the largest source of financial aid to help pay for higher education.

The Better FAFSA is simplified, redesigned, and streamlined. It is faster and easier to fill out, with most students and families completing it in less than 15 minutes. It ensures 665,000 more students will receive Federal Pell Grants to pay for college. Additionally, more than 1.7 million more students will receive the maximum Pell Grant.

Making FAFSA Corrections

Some students who already submitted FAFSA forms may need to make corrections. For students who need to make corrections to their FAFSA form, doing so should only take a few minutes. To get started, students and contributors should go to theirStudentAid.govaccountand select the form that notes an "Action Required" under "My Activity." Select "View FAFSA Submission Summary" to review the information and any actions you need to take to complete the form. Select the "Make a Correction" button at the top of the "FAFSA Form Answers" tab.Some of the most common corrections include signing the form or providing consent and approval to access and use federal tax data. Remember: successfully completing your FAFSA form is the first step to unlocking affordable and accessible higher education opportunities.

Watch these videos to learn more about making corrections to your FAFSA:

Other useful resources to help you prepare and submit your FAFSA® Form:

Better FAFSA Toolkits

Watch and share these videos on the Better FAFSA.

High School FAFSA Submission Rate

State Rate as of 5/10/24
District Of Columbia 62.8%
Louisiana 61.1%
Tennessee 60.5%
Illinois 57.9%
California 56.0%
Connecticut 53.6%
Texas 53.3%
Rhode Island 53.2%
Indiana 52.8%
Massachusetts 50.7%

The submission rate is based on the number of high school senior 2024-25 FAFSA submissions divided by the projected total of high school graduates for that state.

Check out high school FAFSA submission rates by state here (updated 5/14/24)

FAFSA Student Support Strategy

On May 6, the Department launched the FAFSA Student Support Strategy to continue increasing the number of high school students who complete a 2024-25 FAFSA and enroll in college, particularly first-time college students and students of color. This investment builds on the Department's efforts to help students, families, and institutions through the 2024-25 FAFSA application cycle, in addition to the College Support Strategy, the FAFSA Fast Break campaign, and direct communication efforts with institutions and stakeholders via the FAFSA Fast News blog.

As part of the FAFSA Student Support Strategy, the Department is providing up to $50 million to help school districts, states, nonprofits, and other public and private organizations with efforts to boost FAFSA completion. These funds will help grow capacity for organizations supporting FAFSA completion efforts, facilitate FAFSA clinics, and provide transportation and communication supports to families as needed. The program will be implemented by ECMCto support organizations with demonstrated experience expanding college access and enrollment. For additional details, read the press release here.

Resources for students and families, high school educators and college access counselors, and college officials

For students and families

For high school educators and college access counselors

For college officials

  • See and share this toolkit for college officials
  • Check out this slide deck
  • Check out this roadmap for institutions and state partners
  • See the FSA Knowledge Center, a repository for all information, guidance, and training related to better FAFSA
  • Watch and share these videos from students, a parent, an organizational leader, and Department leaders on the Better FAFSA.
  • Bookmark this page for regular status updates and resources related to the better FAFSA form
  • Sign up to receive updates on webinars and other information

Additional Actions the Department is Taking

Significantly Reducing Verification Requirements

Thanks to the overhauled FAFSA form, the majority of income data now comes directly from the IRS, which will not need to be verified. This year’s reduction in verifications will reduce the burden for colleges and students while continuing to protect against fraud.

Providing Additional Flexibility on Recertification

The Department will, through Sept. 2024, waive the requirement for institutions to recertify eligibility for federal student aid programs no later than 90 days before their Program Participation Requirement expires. This flexibility will give time back to institutions at this critical moment.

Making Connections to Data

The Department is posting new data and resources to help schools drive FAFSA completion. For example, the Department released data by high school on their students’ 2024–2025 FAFSA submissions, two months ahead of schedule.

Suspending New Routine Program Reviews

The Department conducts program reviews to confirm colleges meet requirements for institutional eligibility, financial responsibility, and administrative capability. The Department will suspend new reviews through June 2024, except for the most serious issues, helping colleges focus on getting aid award offers to students.

Last Updated: 5/15/2024

  • Posted in: Federal AidStudent Financial AidFAFSA

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The Better FAFSA: What You Need to Know (2024)

FAQs

How do I get the most out of my FAFSA? ›

Basic Principles
  1. Reducing income during the base years.
  2. Reducing “included” assets. ...
  3. Increasing the number of family members enrolled in college and pursuing a degree or certificate at the same time.

What are 4 things needed to complete FAFSA? ›

Bank statements and records of investments (if applicable), net worth of investments, businesses, and farms. Records of untaxed income (if applicable) An FSA ID (account username and password) to log in to StudentAid.gov and start the FAFSA form electronically.

What does FAFSA want to know? ›

Your family's taxed and untaxed income, assets, and benefits (such as unemployment or Social Security) all could be considered in the formula. Also considered are your family size and the number of family members who will attend college or career school during the year.

What do I need to prepare for the FAFSA? ›

Note: You may be able to transfer your federal tax return information into your FAFSA form using the IRS Data Retrieval Tool.
  1. bank statements and records of investments (if applicable);
  2. records of untaxed income (if applicable); and.
  3. an account username and password (FSA ID) so you can electronically sign the FAFSA form.

What are the 3 most common FAFSA mistakes? ›

How to avoid 8 common mistakes that hurt your chances of getting federal financial aid for college
  • Not submitting an application at all. ...
  • Waiting until the very last minute to apply. ...
  • Not doing the prep work. ...
  • Not creating an FSA ID. ...
  • Not going back to correct mistakes or make updates. ...
  • Not using the IRS Data Retrieval Tool.

How do I convince my FAFSA to give me more money? ›

Request a Reevaluation of Your Circ*mstances

Through this process, you can petition for a reevaluation of the information on your FAFSA® form. This process will likely require you to submit additional documentation to your school's financial aid office.

What are 3 options for getting help in completing the FAFSA? ›

FAFSA Help
  • If you have questions about the FSA ID, you can find the answers to frequently asked questions here.
  • If you need assistance logging in with your FSA ID, contact FAFSA at 1-800-4-FED-AID (1-800-433-3243).
  • Find help online or click on the Live Help button during business hours.
Apr 26, 2018

What 7 items do you need before filling out FAFSA? ›

7 Things You Need Before You Fill Out the FAFSA
  • Your FSA ID*
  • Your Social Security number*
  • Your driver's license number.
  • Your tax records*
  • Records of your untaxed income*
  • Records of all your assets (money)*
  • List of the school(s) you are interested in attending.
Dec 30, 2015

Is FAFSA first come first serve? ›

State FAFSA deadline

FAFSA.gov provides a list of state deadlines, which also include Canadian provinces and US territories. As with federal student aid, many states have limited funds and hand out assistance on a first-come, first served basis. You do not need to apply directly to your state to qualify for aid.

How much money does FAFSA give? ›

Federal financial aid limits
Maximum amount (2023-24)
Direct Subsidized Loan$3,500 to $5,500 per year, depending on year in school
Direct Unsubsidized Loan$5,500 to $20,500 per year, depending on year in school and dependency status
Direct PLUS LoanTotal cost of attendance (net of other financial assistance received)
5 more rows
Apr 8, 2024

Will I get financial aid if my parents make over 100k? ›

Don't worry, this is a common question for many students. The good news is that the Department of Education doesn't have an official income cutoff to qualify for federal financial aid. So, even if you think your parents' income is too high, it's still worth applying (plus, it's free to apply).

Is FAFSA free money or a loan? ›

It is not the financial aid itself. However, the FAFSA enables the student to qualify for many types of financial aid from several sources. Some of this money is free money, some must be earned through work, and some must be repaid. There are three main types of financial aid.

What 3 documents are needed for FAFSA? ›

You might need the following information or documents as you fill out the 2024–25 FAFSA form:
  • Your parents' SSNs if you're a dependent student.
  • Tax returns.
  • Records of child support received.
  • Current balances of cash, savings, and checking accounts.
  • Net worth of investments, businesses, and farm.

What are three helpful hints for applying for FAFSA? ›

7 Tips for Filling Out the FAFSA
  • Ensure that your school and program are FAFSA-eligible. ...
  • Determine your dependency status. ...
  • Collect all required information and documents. ...
  • Start your FAFSA application early. ...
  • Review all information before submitting. ...
  • Ask for help if needed.
Feb 6, 2024

What 4 things does FAFSA cover? ›

Federal student aid from ED covers such expenses as tuition and fees, housing and food, books and supplies, and transportation.

What is the most amount of money FAFSA gives? ›

The maximum Federal Pell Grant for the 2023–24 award year (July 1, 2023, through June 30, 2024) is $7,395. The amount an individual student may receive depends on a number of factors. Learn more via the links below: Learn what factors go into determining the amount of Pell Grant funding a student receives.

What is the maximum FAFSA payout? ›

The maximum Federal Pell Grant award is $7,395 for the 2023–24 award year (July 1, 2023, to June 30, 2024). The maximum Federal Pell Grant award is $7,395 for the 2024–25 award year (July 1, 2024, to June 30, 2025).

How do I get the most back from FAFSA? ›

If you want to get the most financial aid possible, fill out the FAFSA form right away. Many states have limited funds, so they may have early FAFSA deadlines. The FAFSA form doesn't take too much time to complete, and it includes help text for each question. Be sure to sign and submit!

What increases your total balance FAFSA? ›

Both Interest accrual and interest capitalization increases your total loan balance. Any of the above. You can reduce total loan cost by making interest and principal payments while in school, making interest payments while in school, and make interest and principal payments during the grace period.

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