Investing in 2024 for Gen Z and Millennials
The 2024-2025 FAFSA brings exciting updates, expanding eligibility for federal student aid and a more streamlined and user-friendly application process. The latest version is shorter and includes helpful instructions to guide you through the application.
The FAFSA application is available at studentaid.gov/fafsa and has to be filled out each year. The form is usually available on October 1st for the following school year. However, due to recent changes, it will now be accessible starting December 2023. You can still create an account at studentaid.gov and get familiar with the process.
Here’s a simplified step-by-step guide for successfully applying for FAFSA:
Step 1: Collect Documents
Gather essential documents, including your Social Security Number, tax records, and bank statements.
Step 2: Create FSA ID
Visit the FSA website to establish your unique username and password.
Step 3: Fill Out FAFSA Form
Navigate to fafsa.gov, click “Start A New FAFSA,” and follow the straightforward prompts.
Step 4: List Schools
Include the codes for the colleges you’re considering.
Step 5: Submit
Sign the form using your FSA ID and submit it.
Step 6: Review Student Aid Report (SAR) and Aid Offers
Thoroughly examine your Student Aid Report for any errors and compare the financial aid offers from different colleges.
Remember, submitting your FAFSA early is highly recommended! At Snowball, we’ve created a library of financial courses that are guaranteed to help you learn new financial topics.