This episode of "Purposeful Planning" examines the essential changes to the FAFSA for the 2024-25 academic year. Whether you're a parent preparing to send your child to college or a student stepping into higher education, understanding these updates is crucial. We'll explore how the FAFSA has been simplified, the new terminology and guidelines, and strategic tips for utilizing 529 plans effectively without impacting financial aid.

Sources:

1. https://studentaid.gov/help-center/answers/article/fafsa-simplification-act
2. https://studentaid.gov/h/apply-for-aid/fafsa
3. https://www.tccd.edu/services/paying-for-college/financial-aid/fa-updates/#:~:text=Key%20changes%20include%3A,the%20IRS%20Direct%20Data%20Exchange.
4. https://www.sec.gov/resources-for-investors/investor-alerts-bulletins/updated-investor-bulletin-introduction-529-plans
5. https://www.theeducationplan.com/the-fafsa-simplification-act-and-what-it-means-for-529-accounts#:~:text=If%20the%20owner%20of%20a,aren't%20considered%20student%20income.
6. https://www.aspenwealthmgmt.com/resource-center/blog/your-529-plan-and-secure-2

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This information has been derived from sources believed to be accurate and is intended merely for educational purposes, not as advice.

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