..."Be prepared to verify financial changes. If job loss is the reason for out-of-date income information, for example, students or families must provide documentation such as a separation letter, an employer statement or unemployment payment stub, according to Dana Kelly, vice president of professional development and institutional compliance at the National Association of Student Financial Aid Administrators.
'This is not necessarily something that you want to do across the board to all schools (you applied to) because it could be a fair amount of work,' she says. 'But once you narrow down your choices, if it's a school or two, you're going to want to let them know that your circumstances are different.'
Larger changes stemming from the FAFSA Simplification Act, which was enacted in December 2020, are expected to be implemented in the 2024-2025 award year. However, there are some differences to the 2023-2024 form that students and families should note."
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Publication Date: 10/6/2022