It’s official: A new online version of the Free Application for Federal Student Aid (FAFSA) will soon be available, federal officials recently announced. But what’s going to change?

A lot, according to Education Secretary Arne Duncan, who recently touted the advantages of the streamlined FAFSA form.

Here are 6 changes that should simplify the process of applying for federal aid:

1. Twenty-two questions have been eliminated from the form.
2. Low-income students will bypass a series of questions about their families’ financial income and assets.
3. The new form will not ask first-year students about drug convictions.
4. Questions about veterans’ benefits have been omitted.
5. Applicants who have lived at the same address for five years will not have to answer residency questions.
6. Financially dependent students whose parents refuse to release their tax information will be allowed to submit FAFSA forms without parental information — and qualify for unsubsidized student loans.

Students who apply for federal aid in the 2010-11 school year will use the new streamlined forms.

Are there any other modifications needed to make the FAFSA application process easier for students? Let us know in the comments section below.

Tags: FAFSA