Even with the known issues, it’s better to plan to tackle the application. As the 2024-2025 FAFSA season has begun, navigating the process can seem overwhelming. With questions swirling about the best time to submit your FAFSA, it's vital to remember that earlier is better. And if you need your parent and other FAFSA Contributors are needed to help, it’s best to tackle the process head on. You may encounter a few issues, but you can work through them.
Why Submit Your FAFSA Early?
Submitting your FAFSA early not only increases your chances of receiving a better financial aid package but also reduces the stress of last-minute scrambling to meet deadlines. Colleges and states often have limited funds for certain types of aid, so those who apply earliest may receive more generous support.
This year, even more so than previous years, tracking deadlines will be important. Double-check your state deadline and take a look at your school deadlines. While their financial aid application is important, if it’s your first-year going to college and you haven’t decided where you’re going yet, it’s best to take a look at each prospective school’s decision deadline. Due to known FAFSA delays, many schools but not all are pushing their decisions deadlines a bit. Be proactive, mark your calendar and periodically check to see if there are any changes in deadlines in the next few weeks.
Expected Delays in FAFSA Processing
Expect delays in FAFSA processing. In previous year, the FAFSA would process within 1-3 days after an electronic submission. Due to a recent announcement at the end of January, processing will be delayed. What that means, if you submit your FAFSA from December 2023 through mid-March 2024, your FAFSA may not be processed, and your information will not be sent to your school within the 1-3 days. You may also notice that you are not given a SAI, student aid index. The delay in processing is due to an update to the SAI tables used to calculate your SAI. You will need to wait until you receive your FAFSA Submission Summary in March 2024 to see your actual SAI.
FAFSA Contributor with No SSN
This may be a student who has a parent of FAFSA Contributor who does not have a social security number. This issue known to the U.S. Department of Education may prevent that student from completing their 2024-2025 FAFSA application online. Why? Well, there is a requirement that every student and FAFSA Contributor needs an FSA ID to complete their section of the FAFSA. Previous years, a FAFSA Parent had the choice to complete the information online and mail in a signature page to complete their portion. That option has been removed for the 2024-2025 FAFSA, and parents and contributors were supposed to have the option to create an FSA ID even if they did not have an SSN.
A workaround has been issued for these students. If a student can wait and will not miss any important financial aid deadlines set by their school or state, it’s best they wait until the second half of March to complete their FAFSA.
However, if you are going to miss important state or school deadlines, you can go ahead with a workaround. Essentially, you will be completing your section of the form, you will invite your contributors to participate in the form. You will select our schools and then you want to input your contributor’s information manually. There are instructions to help you through offered by the U.S. Department of Education.
Dealing with Tough Hurdles: Alternatives to Online FAFSA Submission
There are some known issues which may present challenges for some families. The total inability to complete the FAFSA electronic application. While the majority of applicants will handle their issues in stride. If you’re struggling or you’re worried, you always have the option to complete a paper FAFSA and mail it in. This isn’t the ideal solution, but it will work. Processing times will be longer, and you will need to answer all the questions as presented in the form.
Your FAFSA Plan
To stay ahead of the curve and make the process smoother, here's a list of the top 5 things you need to do to prepare for your FAFSA.
- Check Deadlines. Different states and colleges have distinct deadlines. Make sure you're aware of all the relevant dates to avoid missing out.
- Set up a time to complete the FAFSA. If you must provide parent information, spouse information, or information of another FAFSA Contributor make sure to let them know the plan. Have them create their FSA ID before they get started.
- Review your StudentAid.gov account. Use your FSA ID to log in and make sure your contract information is correct. You’ll be receiving correspondence from the U.S. Department of Education and potentially your school. You want to make sure you don’t miss anything!
- Review and share a trusted resource. This is a great way to get an idea of what you’re in for. Edvisors offers a fantastic FAFSA Guide and information to help you get started.
- Gather Necessary Documents. It’s best to be prepared. Make sure you know your FSA ID and password, gather your 2022 tax records to complete the 2024-2025 FAFSA, records of untaxed income, records of your assets, child support received, and a list of the schools you are considering.
- Fill Out the FAFSA. Now execute! Complete the FAFSA either online or opt for a paper version if you are encountering tough roadblocks. Always double-check your information for accuracy to avoid any delays.
- Keep an Eye Out for your FAFSA Submission Summary. Your FAFSA Submission Summary will be emailed to you once your FAFSA is processed and your information is sent to your schools. At that time, you will have your SAI and a summary of the information you provided on your FAFSA, minus anything imported directly from the IRS. Review it, and if there are changes needed, you can begin addressing those corrections.
Remember, the FAFSA is your gateway to financial aid, and preparing early could make all the difference in funding your education efficiently. Don't let the initial chaos deter you; with a solid plan in place, you can face the hurdles head-on and pave the way to a successful academic journey.
The 2024-2025 FAFSA season has been a bit more complicated. To help you, and your FAFSA Contributors, through the process, it's best to have a plan. Here's how we recommend you plan to complete the FAFSA.