2024 – 2025 FAFSA Requirements: Documents, Eligibility, and What’s New

Filling out the Free Application for Federal Student Aid (FAFSA) is the first step to accessing federal financial aid for college or career school. The U.S. Department of Education uses your application to determine your eligibility for grants, loans, and work-study programs.

Understanding the FAFSA requirements is important to avoid delays and missed opportunities. This guide explains who qualifies, what documents you’ll need, and what’s changed for the 2024 – 2025 FAFSA.

FAFSA basic eligibility criteria

To qualify for federal aid using the FAFSA, you must meet several requirements. These eligibility rules apply to grants, loans, and work-study programs. Understanding these at the start of the financial aid process can help you avoid delays or issues with your application.

You must meet the following FAFSA eligibility requirements:

• Citizenship status: Be a U.S. citizen or an eligible noncitizen (e.g., permanent resident).
• Valid Social Security number: Exceptions apply for certain Pacific Island residents.
• Educational qualifications: Have a high school diploma, GED, or approved homeschool equivalent.
• Enrollment status: Be enrolled or accepted into a qualifying degree or certificate program.
• Satisfactory academic progress: Meet your school’s GPA and coursework completion standards.
• Federal tax information: Agree to transfer your tax data into the FAFSA form. 
• Demonstrate financial need: Required for some types of aid, like federal grants.
• No federal aid defaults: Not owe money on prior federal student aid or be in default.

Meeting these basic FAFSA requirements is the first step to accessing federal aid. If you’re unsure about your eligibility, visit StudentAid.gov, or check with your school’s financial aid office. Starting with a solid understanding can save time and frustration later.

FAFSA financial eligibility

Your financial need is the difference between what college costs and what you can afford to pay. The FAFSA collects your income, assets, and family size and uses the information to calculate a Student Aid Index (SAI). The lower your SAI, the more likely you are to qualify for need-based aid. 

• Need-based aid includes Pell Grants, Direct Subsidized Loans, and work-study jobs. These programs are meant for students who can’t fully cover college costs. Your SAI must be below a certain level to qualify.
• Non-need-based aid includes Direct Unsubsidized Loans and PLUS Loans. These are available to most students, regardless of financial background. You still must submit a FAFSA to access them.

Even if you think you won’t qualify for need-based aid, submitting the FAFSA as soon as possible after it opens in October is smart. Many states and schools use FAFSA data for their own aid programs. Some of these have priority FAFSA deadlines and are first-come, first-served, so apply early.

What documentation is required for FAFSA?

Before starting your FAFSA, gather the required documents to save time and avoid mistakes. The form asks for personal, financial, and school information to determine your aid eligibility. Having everything ready makes the process go more smoothly.

Here’s the documentation you’ll need to complete the FAFSA:

• Social Security number
• Federal tax returns
• Child support income details
• Bank account and cash balances
• Investment information (businesses, farms, or other assets)
• Parents’ personal and financial details (if you’re a dependent student)
• Federal Student Aid (FSA) ID. A username and password used to complete and sign your FAFSA; you can create an FSA account on the Federal Student Aid website

You must also list the schools you want to receive your FAFSA. You can include up to 20 schools when applying online or through the mobile app. Paper forms allow up to 10. (See how to add more than 20 schools to the FAFSA.)

Once you’ve gathered everything, visit the Federal Student Aid website to complete the form online. If you prefer, you can download, print, and mail a PDF version instead. Either way, submit your FAFSA as early as possible to meet school and state deadlines.

Common FAFSA mistakes include rushing through the form and making grammatical or numerical errors. Always read questions carefully, and refer to official FAFSA guidance if you’re unsure. Skipping questions or ignoring directions can lead to delays or rejection.

Another mistake is leaving fields blank—enter “0” if a question doesn’t apply to you. Remember, you must complete the FAFSA every year you plan to attend college. Finally, research and list all the schools you may apply to in advance. This ensures your information reaches the right institutions for financial aid processing.

Eric Kirste , CFP®, CIMA®, AIF®

FAFSA recent changes and updates

The FAFSA Simplification Act brought significant changes to the 2024 – 2025 FAFSA. 

The FAFSA form has fewer questions, a new formula for calculating aid, and expanded eligibility for some students. It even removed the optional field for a driver’s license number, which was included in prior years.

One of the biggest changes is the shift from the Expected Family Contribution (EFC) to the Student Aid Index (SAI). This new number affects how financial need is calculated. Most tax information will now transfer automatically using direct data exchange with the IRS.

Pell Grant eligibility has expanded. Incarcerated students can now qualify for Pell Grants if enrolled in an approved prison education program. Plus, students who were misled by a closed school will have their Pell Grant eligibility reinstated.