FASFA is now open for the 2024-2025 school year!
The Free Application for Federal Student Aid or FASFA historically opened in October but was delayed this year due to significant updates.
If you’ve done the FASFA before, expect a faster process with less data entry. In fact, you may answer as few as 18 questions and be able to finish in as quickly as 10 minutes. (If you’re a returning applicant, it will automatically populate a lot of your information from previous years.)
The biggest change to the updated form is that instead of entering information from your (or your parents’) 2022 tax return, that information will be uploaded directly from the IRS.
“You no longer have to enter those numbers yourself, which avoids potential data-entry errors,” explained Jane Jent, IU Columbus financial aid and scholarship specialist. “However, in certain circumstances it may require additional family members to get a FSA ID and approve the use of their tax information by agreeing to Direct Data Exchange (DDX).You no longer have to enter those numbers yourself, which avoids potential data-entry errors. However, in certain circumstances it may require additional family members to get a FSA ID and approve the use of their tax information by agreeing to Direct Data Exchange (DDX).”
To determine who needs a FSA ID and who must agree to the DDX, the application will ask questions to determine whether you’re considered a dependent or independent student. If you’re an independent student, you will report your own information (and, if you’re married, your spouse’s).
A dependent student is assumed to have the support of parents, so the parents’ information must be assessed along with the student’s to get a full picture of the family’s financial resources. If you’re a dependent student, it doesn’t mean your parents are required to pay anything toward your education; this information is simply used to determine the student’s maximum eligibility for federal student aid.
Dependent students whose parents are divorced, separated or never married can expect questions to determine who their “parent of record” is. Your “parent of record” may be different this year than in previous years, so you may need a different parent (and potentially step-parent) to get a FSA ID and agree to the DDX.
Each contributor creates their own FSA ID (go to StudentAid.gov to create an account). Even if a contributor doesn’t have a Social Security number, they will be able to create an account. Married couples who filed taxes jointly will only need one FSA ID. It may take up to 3 days to be able to use the account once created, so register for your FSA ID early.
This year, consenting to the Direct Data Exchange (DDX) is also required. Through the DDX process the IRS shares federal tax information (FTI) with the Department of Education and the colleges listed on the FAFSA to calculate a Student Aid Index. Every contributor on the FAFSA is required to consent to DDX, even if they didn’t file taxes, for the student to be eligible for federal financial aid.
If any contributor doesn’t give consent, the student isn’t eligible for aid.
Students who are eligible for financial aid from the state of Indiana (21 st Century Scholars, Frank O’Bannon Grant, CVO) must complete the 2024-2025 FAFSA by the state deadline of April 15.
During the current soft-launch period, there may be brief outages. Find the redesigned form here.
Need help? Attend the College Goal Sunday event here on campus Feb. 25, 2-4 p.m.
You can also reach out to Jane Jent with any questions.
Learn more about the 2024-2025 FASFA changes on the Federal Student Aid website.