Navigating FAFSA Delays: A Guide to the 2024-2025 Application Challenges

The 2024-2025 FAFSA process has been particularly challenging, with several technical issues causing delays and confusion. If you're a parent or student trying to navigate this situation, don't worry – we're here to help! This guide will break down what's happening and provide you with practical steps to manage your financial aid application smoothly.

What’s Going On with FAFSA?

This year’s FAFSA form became available later than usual, in late December 2023 instead of October. This delay has affected the entire financial aid timeline, leaving many students and families in limbo. 

Here are some key issues:

1. IRS Data Retrieval Problems: Errors with the IRS Data Retrieval Tool (FA-DDX) required many forms to be reprocessed.

2. Incorrect School Code Order: Mistakes in the order of school codes entered by students affected state aid eligibility.

3. Technical Glitches: Students without Social Security numbers (SSNs) or those with Individual Taxpayer Identification Numbers (ITINs) faced additional hurdles in completing their applications.

Steps to Take Right Now

Even with these challenges, there are actions you can take to ensure your FAFSA is processed correctly:

1. Double-Check Your Information: Make sure all your details, especially tax information and school codes, are accurate.

2. Stay Informed: Regularly check the Federal Student Aid website for the latest updates and solutions to ongoing issues .

3. Communicate with Schools: Contact the financial aid offices at the colleges you’re applying to for specific advice and assistance.

Use Available Resources

The Department of Education is providing additional support to schools to help manage these issues. Don’t hesitate to seek help from your school’s financial aid office – they are there to assist you.

While navigating the 2024-2025 FAFSA process can be frustrating, staying informed and proactive will help you manage your financial aid application effectively. Keep in touch with your schools and use the resources available to you to overcome these challenges and secure the financial aid you need.

Whether you're looking to pay off student loans, build an emergency fund, or plan for retirement, we're here to help every step of the way. Your financial success is our top priority, and we look forward to assisting you on your journey towards a brighter financial future. For additional information about FAFSA, please visit https://studentaid.gov/apply-for-aid/fafsa/filling-out/help

LynnLeigh & Company - A Registered Investment Advisor This information is provided by LynnLeigh & Co. for general information and educational purposes based upon publicly available information from sources believed to be reliable – LynnLeigh & Co. advisors cannot assure the accuracy or completeness of these materials. The information presented here is not specific to any individual’s personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. The information in these materials may change at any time and without notice.   Past performance is not a guarantee of future returns.