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NASFAA knows this year’s FAFSA rollercoaster has consumed more of the financial aid office’s energies than in years past. However, this year’s changes aren’t limited to FAFSA simplification. They include several regulatory changes that become effective July 1, 2024. Read on to make sure your campus is prepared to comply with those regulations.

This AskRegs Q&A was updated on March 4, 2024 to add clarity. There is no perfect answer here. It is NASFAA’s understanding that the financial aid administrator (FAA) will know this if the student or student’s spouse answers “No” to the 1040/1040-NR question on the FAFSA and answers “Yes” to the foreign income question on the FAFSA—identified by a value of “1” in the ISIR field, “Filed non-U.S. tax return.” The school might also find out during a communication with the student or parent. View the full answer to this question to learn more.

Blue Icon Advisors' upcoming Let's Talk session, on Thursday, May 16, will dive into building a compliance culture at your institution. Check the schedule for additional upcoming topics and be sure to register for this upcoming session.

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