Study up on changes to federal student aid application

Did you know that the FAFSA (Free Application for Federal Student Aid) for the 2025-2026 academic year officially went live on December 1, 2024? This is a crucial time for college students and families as they prepare for the upcoming academic year. 

As financial advisors, you can play a pivotal role in guiding your clients through the financial aid process. We encourage you to visit the FAFSA page on our website for information on key changes and updates to the FAFSA. The value of a parent-owned 529 account is assessed at a lower rate than the student’s assets when calculating student aid. If a grandparent holds the my529 account for their grandchild, the account is no longer considered in the student aid equation. Understanding these changes is essential to assist your clients in maximizing their financial aid opportunities.

The FAFSA determines the amount of federal aid for which a student is eligible. The financial support is delivered through federal Pell Grants, federal work study and student loans. Many schools use the FAFSA for determining state aid and scholarships. Students who do not fill out the FAFSA may miss out on this financial assistance.

my529 appreciates your dedication to supporting students and families in their pursuit of higher education.

From the FAN — Winter 2025

Winter 2025 FAN

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2024 year-end deadlines

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Study up on changes to federal student aid application
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Important Legal Notice

Investing is an important decision. The investments in your account may vary with market conditions and could lose value. Carefully read the Program Description in its entirety for more information and consider all investment objectives, risks, charges and expenses before investing. For a copy of the Program Description, call 800.418.2551 or visit my529.org.

Account Value. Investments in my529 are not insured or guaranteed by my529, the Utah Board of Higher Education, the Utah Education Savings Board of Trustees, any other state or federal agency, or any third party. However, Federal Deposit Insurance Corporation (FDIC) insurance is provided for the FDIC-Insured investment option. In addition, my529 offers investment options that are partially insured for the portion of the respective investment option that that includes FDIC-insured accounts as an underlying investments. Units in my529 have not been registered with the United States Securities and Exchange Commission or with any state securities commission.

FDIC insurance is subject to limits set by federal law. Click here for more information about FDIC Insurance.

Non-Utah Taxpayers and Residents. The state in which you or your beneficiary pay taxes or live may offer a 529 plan that provides state tax or other benefits, such as financial aid, scholarship funds, and protection from creditors, not otherwise available to you by investing in my529. You should consider such benefits, if any, before investing in my529.

Consult an advisor. my529 does not provide legal, financial, investment, or tax advice, and the information provided on this website does not contain advice and cannot be construed as such or relied upon for those purposes. You should consult your own tax or legal advisor to determine the effect of federal and state tax laws on your particular situation.

Morningstar rating. A Morningstar Analyst Rating for a 529 college savings plan is not a credit or risk rating. Analyst ratings are subjective in nature and should not be used as the sole basis for investment decisions. Morningstar does not represent its analyst ratings to be guarantees. Please visit Morningstar.com for more information about the analyst ratings, as well as other Morningstar ratings and fund rankings.

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Information on this website is believed to be accurate when posted and is qualified in its entirety by the Program Description.