"The new application is also still in its beta testing stage. "The second phase of testing is now open and runs through September 2025," the Department of Education's announcement explains. "Anyone can request to participate, and we'll invite participants throughout this phase." The announcement also noted that if students apply for aid during the beta testing period, they won't need to resubmit the application later."
"The department says the new application is simplified in a number of ways. For starters, it now has a real-time account verification tool which allows students to use their Social Security Number to avoid a waiting period. It also has a tool which allows students filling out the application to allow another person, like a parent, to collaborate in filling out the form."
"For undergrad applicants, new borrowers will have a lifetime limit of $257,500. For the Parent PLUS loan program, parents will only be able to borrow $20,000 per dependent each year or a total of $65,000 per dependent. However, if students are already receiving loans (prior to July 1, 2026) they will be able to continue without the new Parent PLUS caps through the end of their child's college years"
FAFSA will reopen online Oct. 1 for the 2026-2027 year. Major technical delays followed a 2020 law requiring revision, and the 2024-25 form launched in December 2023, shortening application time. The new application remains in beta testing, with a second phase running through September 2025 that allows public participation and guarantees no resubmission for applicants during beta. The form adds a real-time account verification tool using Social Security Numbers to avoid waiting periods and a collaboration feature for parents or others. New loan limits set a $257,500 lifetime cap for new undergraduates and Parent PLUS caps of $20,000 per year or $65,000 total per dependent, with existing borrowers prior to July 1, 2026 exempted through their child's college years.
Read at Fast Company
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