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Money Mondays
By Imagine Scholarships
Sherri Ross
October 28, 2024
🌟 Welcome to this week's Money Monday!
Countdown to FAFSA: Tips to Get Your Application Right!
FAFSA season is almost here, and it’s time to prepare for one of the most important steps toward securing financial aid for college. Whether it’s your first time completing the FAFSA or you’re helping a student navigate the process, a little preparation goes a long way! This week, we’re sharing essential tips to make your FAFSA application process as smooth and stress-free as possible.
As of today, here is the latest information on the upcoming FAFSA that is set to launch in a few weeks.
Delayed Release of the 2025–2026 FAFSA Form: The U.S. Department of Education has announced that the 2025–2026 FAFSA form, originally slated for release on October 1, 2024, will now be available by December 1, 2024. This delay aims to ensure a smoother application experience for students and families.
Key Changes and Enhancements:
Simplified Application Process: The upcoming FAFSA will feature a more streamlined application, reducing the number of questions and aligning more closely with federal income tax returns.
Introduction of the Student Aid Index (SAI): Replacing the Expected Family Contribution (EFC), the SAI will serve as the new metric for determining financial aid eligibility.
Expanded Pell Grant Eligibility: Changes in the formula are expected to increase Pell Grant eligibility for many students, particularly benefiting those from single-parent households.
Implications for Applicants: Given the delayed release, it's crucial for students and families to adjust their planning accordingly. While the federal deadline for FAFSA submission remains June 30, 2026, many states and institutions have their own deadlines. Applicants should verify these dates to ensure timely submission.
For the most current information and updates, it's recommended to regularly check the official Federal Student Aid website.
📋 Words of Wisdom
"Preparation is the key to success, especially when it comes to paying for college. Get your FAFSA right the first time, and open doors to more opportunities."
💡 Tips for College Students
Gather Important Documents: You’ll need information like your social security number, tax records, and bank statements. Having everything in one place saves you time.
Double-Check Your School Choices: Make sure to list all the schools you’re considering attending to ensure they get your FAFSA information.
Don’t Wait! While deadlines vary, applying early can increase your chances for state and school-based aid.
💰 Advice for High School Students
Ask for Help: If you’re unsure about any part of the application, reach out to a school counselor or financial aid advisor. They’re there to help!
Create an FSA ID Early: This ID lets you sign your FAFSA online, so be sure to create yours ahead of time. You can do this NOW.
Review Financial Aid Options: Use this time to learn about different forms of aid, like Imagine Scholarships and work-study programs, in addition to federal aid.
📢 Parents’ Corner
Keep Your Tax Info Handy: Your financial details play a big role in determining your student’s aid eligibility, so make sure you have your tax returns and financial documents at the ready.
Focus on Accuracy Over Speed: It’s better to take your time and double-check details than to submit with errors that could delay processing.
Encourage Early Submission: Early submissions often get priority for limited state and institutional funds.
🌟 Educators’ Toolkit
Host a FAFSA Workshop: Consider hosting a workshop for students and families to help them navigate the FAFSA process. It’s a great way to answer questions and ease anxieties. We are happy to help with this — just reach out to us.
Share Resources: Provide students with online resources, like video guides or FAFSA prep checklists, to help them understand each step. We have these resources available; just reach out and let us know what you need.
Emphasize Deadlines: Remind students that deadlines vary and missing them can mean missing out on aid.
📅 Quote of the Week
"The future belongs to those who prepare today." – Malcolm X
🎓 Challenge of the Week
Take a few minutes to review the FAFSA requirements with your family or school counselor. Discuss any questions you might have so you can be ready to fill out the form with confidence.
🎉 Fun Fact of the Week
Did you know? More than $150 billion in federal aid is awarded annually to students across the U.S. Make sure to submit your FAFSA and claim your share!
We’re here to help you make the most of this important step in your college journey. Stay focused, get organized, and remember: every bit of effort you put into this process now could mean a brighter financial future ahead. Imagine Scholarships + FAFSA = Debt Free Education!
😃 Scholarship of the Week:
Looking for more scholarships? If you aren’t already using Imagine Scholarships, signing up is your next step. As the leading platform for scholarships, college, career, and life readiness, we connect you to scholarships you can actually get with expert guidance to make your educational journey simple and easy.
Click TAKE ME TO MORE SCHOLARSHIPS to go directly to our website where you can sign up for access to Imagine Scholarships. You're only ONE CLICK away from up to 9 BILLION in educational dollars at Imagine Scholarships!
Have a wonderful week, Imagine family. This week, set aside time to brainstorm keywords that describe you and your interests, your major and career goals. Using keywords like this to search will make it easier to apply for scholarships — the money is out there just waiting for you! Did you know our most successful students apply to 3-5 scholarships each week?
We want to know you!
We look forward to hearing from you soon!
Sherri and Team Imagine
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