Impact of FAFSA changes for 2023 on divorced parents?

I heard there were some fafsa changes in 2023 concerning divorced parents. Can anyone explain how it might affect my financial aid application?

Certainly, the 2023 changes to the FAFSA affect how divorced parents' financial information is reported. The biggest change is that only the financial information of the custodial parent is required if your parents are divorced or separated. Previously, if your parents were divorced, you typically had to report the financial details of the parent you lived with the most during the past 12 months, and if that parent had remarried, you had to include the finances of your stepparent, too.

Now, you only include the income and assets of your custodial parent, which is the parent you lived with most over the last 12 months. If you stayed with both parents equally, it’s the parent who provided more financial support during that time. This streamlined approach might benefit some students whose noncustodial parent has a higher income, as that data will no longer be directly factored into the aid calculation.

Make sure you read the FAFSA instructions carefully or consult with a financial aid advisor to understand exactly how this change might impact you. And remember, some colleges may still request the noncustodial parent's financial information for their own financial aid purposes using other forms, like the CSS Profile.