FAFSA Made Simple: FSA IDs, Custodial Parent Rules & Prior-Prior Tax Years Explained

In this FAFSA-focused episode of College, the Podcast, hosts Matt Carpenter and Peg Keough break down everything families need to know about completing the Free Application for Federal Student Aid. From creating your FSA ID to understanding who the “custodial parent” really is, Matt and Peg cover key details that can make or break your financial aid eligibility.

They explain how the prior-prior tax year impacts your FAFSA, what assets to include (and what not to), and strategies for divorced or separated households. You’ll also hear why it’s important to avoid common mistakes, how to plan ahead for appeals, and why submitting the FAFSA matters even if you think you won’t qualify for need-based aid.

Whether you’re a parent of a high school senior, already navigating college costs, or just starting to plan ahead, this episode is packed with insider tips to help maximize your family’s financial aid opportunities.

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