Filling out the Free Application for Federal Student Aid (FAFSA) can seem daunting, but with a step-by-step approach, you'll get through it with ease. This guide will walk you through everything you need to know to complete your FAFSA successfully, taking into account the recent changes brought by the FAFSA Simplification Act. Let's get started!
Preparing to Fill Out the FAFSA
Before you begin, gathering all necessary documents and information will save you time and ensure accuracy.
What You'll Need:
- Your FSA ID: If you haven't created one yet, refer to our article on getting your FSA ID for a detailed guide.
- Your Social Security Number (or Alien Registration Number if you are not a U.S. citizen).
- Your federal income tax returns, W-2s, and other records of money earned for the “prior-prior” tax year.
- For the 2024-25 FAFSA, this means the 2022 tax year.
- For the 2025-26 FAFSA, this means the 2023 tax year.
- Bank statements and records of investments (if applicable).
- Records of untaxed income, such as child support received or veteran benefits.
- A list of colleges and universities you plan to apply to or are considering.
For dependent students, you'll also need:
- Parent's Social Security Number (or alternative documentation if they don't have one).
- Parent's federal income tax returns and W-2 forms for the prior-prior tax year.
- For the 2024-25 FAFSA, this means the 2022 tax year.
- For the 2025-26 FAFSA, this means the 2023 tax year.
- Bank statements and investment records for parents, if applicable.
Navigating the FAFSA Website
Go to
FAFSA.gov to start your application. Here's what you'll see:
Login Page: You can log in with your FSA ID or start the application as a guest if you're a parent or preparer. If you're a returning student, use your FSA ID to access your prefilled information.
Section-by-Section Breakdown
Now, let's break down each section of the FAFSA and how to fill it out.
1. Student Information
This section will ask for your basic personal details.
- Name, date of birth, Social Security Number: Ensure your name matches exactly with what's on your Social Security card.
- Address and contact information: Double-check that all information is accurate, especially if you've recently moved.
- Marital Status: Indicate whether you are married, single, separated, or divorced.
- Citizenship Status: You'll be asked if you are a U.S. citizen or eligible non-citizen (like a permanent resident).
2. School Selection
In this section, you will list the schools that you want to receive your FAFSA information.
- Search for colleges: You can add up to 20 schools on the online FAFSA. Don't worry if you haven't decided on a college yet—just list the schools you're considering.
3. Dependency Status
This section will help determine whether you are considered a dependent or independent student.
- You'll answer questions such as your age, marital status, and whether you have dependents.
- You'll also be asked about special situations, such as if you're an orphan, a ward of the court, or homeless. Answer these questions accurately, as they may qualify you for independent status.
Reporting Income and Assets
4. Parent Information (if Dependent)
If you are a dependent student, you'll need to provide your parents' financial information. Here's what you need to know:
- Parent's marital status: Be clear on whether your parents are married, divorced, separated, or never married, and whether they live together.
- Income information: Use your parents' tax return and W-2 forms for the prior-prior tax year. You can transfer this information directly from the IRS using the IRS Data Retrieval Tool (DRT), which simplifies the process.
- If your parents didn't file taxes, you'll need to report their income manually. Be sure to include untaxed income, such as child support received or veteran benefits.
- Assets: You may need to report cash, savings, checking account balances, and the value of any investments (excluding retirement accounts and the family home). Parents are no longer required to report the number of family members in college for the 2024-25 FAFSA and beyond.
Note that your assets are reported based on the day you complete your application while your income is reported based on prior-prior year tax information.
5. Student Financial Information
Next, you will enter your own financial information:
- Income information: Similar to the parent section, you will either manually enter your income from the prior-prior tax year or use the IRS DRT to import the data.
- Student assets: You'll need to report your own assets, such as bank accounts or investments. The same rules apply here—retirement accounts and your primary home are not counted.
Using the IRS Data Retrieval Tool
The IRS Data Retrieval Tool (DRT) allows you to transfer tax return information directly into your FAFSA. This tool saves time and ensures greater accuracy in reporting income. Here's how to use it:
- After you enter your FSA ID, you'll be prompted to use the DRT for both student and parent financial information (if applicable).
- Once redirected to the IRS website, follow the instructions to transfer your tax data securely.
Listing Colleges and Universities
You can list up to 20 colleges on your FAFSA. Be sure to include every school you're considering, even if you haven't applied yet. Each college will receive your FAFSA information to determine your eligibility for aid. You can always update your school list later by making corrections to your FAFSA, which we’ll cover in a future article.
Signing and Submitting the FAFSA
Once all sections are completed, you'll need to sign the FAFSA electronically using your FSA ID. If you are a dependent student, your parent will also need to sign with their FSA ID.
- After you and your parent (if applicable) have signed, click "Submit" to finalize your FAFSA.
- You will receive a confirmation page. Keep a copy for your records and note the Data Release Number (DRN), which colleges may use to access your FAFSA.
What to Do After Submission
After submitting your FAFSA, here's what you can expect:
- Confirmation email: You'll receive an email confirming your FAFSA submission.
- Processing time: The FAFSA typically takes 3-5 days to process if filed online. Afterward, you'll receive your FAFSA Submission Summary (FSS) (formerly the SAR). This summary will show your Student Aid Index (SAI), which schools use to determine your aid eligibility.
- If you see any errors on your FSS, you can make corrections (we'll cover this in a future article).
Conclusion
Completing the FAFSA doesn't have to be overwhelming! By gathering the necessary documents ahead of time and following this step-by-step guide, you'll be able to complete your FAFSA with confidence. Once submitted, you're on your way to accessing federal, state, and institutional financial aid.
Next, we’ll cover common FAFSA mistakes and how to avoid them.
