• October 16 and 17 counselors met in the auditorium with all seniors to go over how to set up their FAFSA PIN and why all should submit a FAFSA application December 1. 

     

    FAFSA Powerpoint 2024

     

    Seniors,

     

    The 2025-2026 FAFSA is now open.  CGCC is having 14 open FAFSA nights with their FAFSA experts to help you between 12-8-24 and July 2025.  PC is the Pecos Campus and WC is the Williamsfield Campus. 

     

     

    Important changes and simplifications in the 24-25 FAFSA:

    1. Opens December 2024 for 2024 students.   
      1. They can get an FSA ID before that.

     

    1. FAFSA will allow students to add up to 20 schools for the FAFSA.

     

    1. FSA ID Changes:  Undocumented parents can create FSA IDS.

     

    1. Married: filing separately needs to create 2 FSA IDs, or remarried

     

    1. Parents are labeled as contributors:  The parents who has the most financial support in the last 12 months. 

     

    1. Family size will automatically populate with parent, student, and any dependent listed on the federal tax return.

     

    1. Number of students in college no longer counts.

     

    1. Qualifying children:
      1. Must live with parent for half the year.
      2. Must not provide more than half of their own financial support.
      3. Must be under age 19 (24 if full-time student)

     

    1. Federal tax return is now auto-transfer at the beginning of the FAFSA.

     

    1.  2 FSA IDs need to be put in to request tax data transfer.

     

    1. Some income questions have been eliminated:
      1. Unemployment, VA, pre-tax contributions, untaxed income from workers’ compensation.

     

    1. Exempt from reporting assets:
      1. Under $60,000 will automatically qualify a student
      2. No longer an income threshold

     

    1. FAFSA will require both student and parent logins before completion:
      1. Student and parent will need to complete and be present for the FAFSA.

     

    1. FAFSA will be simpler.
      1. Fewer questions
      2. 20 schools instead of 10
      3. No signature page for undocumented parents
    2. Lower income may qualify for larger Pell Grants with new formulas.
    3. A contributor is a student or a parent.  Each contributor does have to have an FSA ID number.  Contributors that do not have a Social Security number or live out of the country can now get an FSA ID.
    4. The IRS data retrieval tool is going away.  The consent is required for the IRS data to be connected. The IRS data automatically matches up with the FAFSA.  The Data Retriever Tool will now be called the: IRS Direct Data Exchange. Each contributor must give consent for their tax data (tax return) to be downloaded into the FAFSA.
    5. Tax deferred contributions to retirement is no longer going to be reported. 
    6. All business owners must report the value of their business.  The value of a farm must be reported. 
    7. The custodial parent is the parent who provided the most financial support or the higher earner. 
    8. There will be a significant change to the Pell Grant determination.  First, a student is considered for maximum Pell.  Students who are independent are automatically going to receive max Pell.  If a student is not eligible for max Pell Grant, they receive a calculated Pell based on their SAI number. Overall, more students should be eligible for Pell.
    9. The amount of Equity you have in your home is NOT asked on the FAFSA.
    10. If a parent has a 529 College Account for their child, the value IS reported on the FAFSA as a “parent asset” not a student asset.
    11.  If Grandparent/Relative/Other person has a 529 College Account for your child, you DO NOT report anything.
    12. Verification Process will be random. Check emails constantly to see if you were chosen.

      Each contributor will get an email asking them to complete their part of the FAFSA. Each contributor will see questions that pertain to them and not questions pertaining to any other contributor (i.e.. the student or other parent).  KEEP AN EYE ON YOUR EMAIL.

    1. Each person (student/parent) will have a role as a contributor. Each contributor needs an FSA ID.
    2. Before we knew that a student had dire need when the EFC was equal to $0
    3. The new SAI can show a need-based number as low as -$1500. 
    4.  Divorce Decree/Divorce Agreement (where one parent claims student on taxes odd years or even years, etc.) does NOT factor into the FAFSA. See item#20 as to who the Custodial Parent is the parent who provided the most financial support to the student last year – or in the case of that being equal – the parent who is the higher income earning parent.

    AZCollegeLinks.org helpful link created by ASU

    Tip for the day:

    Create a contact in your phone labeled FAFSA. Save your ID and both logins. Each year you need to file FAFSA while in college.