Seven Major FAFSA Changes: What Families Need to Know

As adjustments to the federal FAFSA form are phased in, they could affect the financial aid eligibility of current and prospective college students.

Four college students works on computers in a computer lab.
(Image credit: Getty Images)

The Free Application for Federal Student Aid, better known as the FAFSA, is the form that returning college students or high school seniors must complete to apply for federal financial aid. Many states, colleges, universities and scholarship organizations require the FAFSA to determine whether a student qualifies for their aid. Without the FAFSA, many students and their families eliminate their possible eligibility for need-based financial aid, as well as access to federal student or parent loans.

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Derenda King, CFP®, CSLP®
Financial Adviser, Urban Wealth Management

Derenda King is a CERTIFIED FINANCIAL PLANNER™ professional, Certified Student Loan Professional (CSLP®) and financial adviser with Urban Wealth Management. She is also the owner of Collegiate Financial Coach, LLC, which provides financial coaching to families with college-bound students who need assistance with developing a college funding plan and to individuals seeking strategies for repaying their student loan debt. Prior to becoming an adviser, Derenda worked in higher education, and she is still an educator at heart. She provides comprehensive, holistic financial planning services, with an added focus on late-stage college planning, and is passionate about educating, empowering and equipping individuals with the knowledge to make more informed decisions about their money.