Tax practitioners whose personal or small business clients have college-bound students in high school may use this live video conference to learn about the massive overhaul coming to the federal college aid delivery system in academic 2023. The FAFSA Simplification Act was included in the Consolidated Appropriations Act of 2021. The changes will be effective starting on July 1, 2023 for the 2023-2024 academic year. College aid eligibility has been and continues to be linked to family income and assets, but the data elements in the formula are changing.
