MADISON — Governor Tony Evers, in partnership with the Wisconsin Department of Financial Institutions (DFI) and the Wisconsin Higher Educational Aids Board (HEAB), on April 15th, encouraged Wisconsin students and families to complete the Free Application for Federal Student Aid (FAFSA®) for the 2024-25 academic year as part of the national FAFSA® Week of Action, taking place April 15 to April 19, 2024. Wisconsin is down over 10,200 FAFSA® submissions completed from this same time last year due to the delays and challenges with the 2024-25 FAFSA® launch this year. This week’s national FAFSA® Week of Action encourages high school counselors, principals, superintendents, after-school programs, parent groups, nonprofit organizations, and local and state education organizations to assist students and families in completing the FAFSA® as the first step toward achieving their college and career aspirations.

“Higher education should be affordable and accessible to all those who choose to pursue it. Completing the FAFSA® is the first step toward qualifying for financial aid to pay for college, graduate school, and career training programs,” said Gov. Evers. “I encourage all high school seniors, college students, and Wisconsinites interested in pursuing higher education to complete the FAFSA® and necessary steps to unlock and access additional financial aid resources that can help support their success in higher education.”

The FAFSA®, filed annually, is the gateway to virtually all federal, state, and institutional financial aid, including scholarships, grants, work-study funds, and federal student loans, plus many private scholarship providers require it as well. For those looking to enroll in postsecondary education during the 2024-25 academic year, it’s important to submit the FAFSA® as soon as possible and take time to understand the various deadlines that apply. To help students and families complete the FAFSA®, Gov. Evers, DFI, and HEAB offer the following tips:

• Gather the Documents Needed to Apply – Both students and parents should gather the documents needed to apply for the 2024-25 FAFSA®, including: Social Security numbers, tax returns, records of child support received, current balances of cash, savings, and checking accounts, and net worth of investments, businesses, and farms. Having this information ready before you begin the application can help expedite the process and alleviate stress.
• Create a StudentAid.gov Account – The first step, before filling out the FAFSA®, is to create a StudentAid.gov account. On the 2024-25 FAFSA®, every contributor, including the student and biological or adoptive parent, who’s required to provide information on the FAFSA® needs a StudentAid.gov account before accessing and completing their section of the online form. When creating an account, the contributor will need to enter their name, date of birth, and Social Security number exactly as it appears on their Social Security card. Once created, contributors can access their StudentAid.gov account by using their account’s username and password, also known as their Federal Student Aid ID.
• Complete the FAFSA® During FAFSA® Week of Action – Some financial aid is awarded on a first-come, first-served basis or from programs with limited funds. The earlier students and families complete the FAFSA®, the better their chances are to be in line for that aid. The 2024-25 FAFSA® is available now. It takes most people less than one hour to fill out the 2024-25 FAFSA®, including gathering any personal documents and financial information needed to complete it.
• Provide Consent and Approval – The Financial Aid Direct Data Exchange, replacing the IRS Data Retrieval Tool starting with the 2024-25 FAFSA®, will transfer contributors’ federal tax information from the IRS directly into the 2024-25 FAFSA®. All contributors must provide consent and approval to have their federal tax information transferred into the FAFSA®; otherwise, the student will not be eligible for federal student aid—even if the contributor manually enters tax information into the FAFSA®.
• Be mindful of potential errors – Mistakes on the FAFSA® could delay an application, meaning students and families could possibly lose out on some financial aid. Entering incorrect Social Security numbers or forgetting to sign the application are some of the most common errors.

“Completing the FAFSA® is your ticket to being considered for financial aid, including aid you don’t have to repay,” said DFI Secretary Cheryll Olson-Collins. “Every year, families nervously await and often postpone filling out the FAFSA®. Some even skip it entirely because they think it’s a waste of time and only a fast track to federal student loans. However, the FAFSA® package also includes college scholarships and grants, which is all money students and parents don’t have to pay back. Not filling it out can result in families losing money that could have helped them pay for college or career training. I encourage all Wisconsin students and families to submit a FAFSA® whether they think they will qualify for aid or not.”

According to the National College Attainment Network (NCAN) FAFSA® Tracker, through April 5, 2024, 25.5 percent of the high school class of 2024 in Wisconsin has completed a FAFSA®. There have been 18,603 FAFSA® completions in Wisconsin, a 35.4 percent decrease, with 10,214 fewer FAFSA® submissions completed as compared to the last academic year. Nationally, the NCAN FAFSA® Tracker shows 27.9 percent of the high school class of 2024 has completed a FAFSA® through April 5, 2024, a 38.3 percent decrease compared to the last academic year. To see FAFSA® completion data by high school and public school district, visit Federal Student Aid’s application volume reports webpage.

“Many colleges and states, including Wisconsin, use the FAFSA® to determine both federal aid and eligibility for need-based state financial aid programs,” said HEAB Administrative Policy Advisor Sherrie Nelson. “Wisconsin students and families should complete the FAFSA® for the 2024-25 academic year as soon as possible because many need-based financial aid programs are awarded on a first-come, first-served basis,” she added.

In Wisconsin, College Goal Wisconsin, an all-volunteer program that includes the commitment and support of many state agencies, businesses, secondary schools, colleges, and universities, helps students and families with the timely completion of the FAFSA®. College Goal Wisconsin is offering a free FAFSA® completion event online on Wed., April 24, from 6 to 8 p.m. Central Time. Register to attend here. In addition, the Fair Opportunity Project is a nationally-recognized, federally-funded education nonprofit that helps students and families complete the FAFSA® as well.

For more information about Wisconsin’s student financial aid, including grant, scholarship, and loan programs, tuition reciprocity agreements, and tuition capitation contracts, visit HEAB’s website at heab.state.wi.us. For more information about college and career readiness, student loan borrowing and repayment, and the Wisconsin 529 College Savings Program, visit DFI’s website at dfi.wi.gov.

Students and families with questions about the FAFSA® should contact Federal Student Aid or the Federal Student Aid Information Center (FSAIC), which provides support on behalf of the U.S. Department of Education. For more FAFSA® tips, follow Federal Student Aid on Facebook, Instagram, X (formally Twitter), and YouTube for informational videos and educational webinars.