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Financial Fact: Navigating Key Deadlines for Social Security Changes and FAFSA Loans

As we navigate through 2025, staying informed about important deadlines that could affect your daily life and financial well-being is crucial. From the student loan application process to changes in Social Security, here are some deadlines to keep in mind.

 

Social Security Changes

Significant changes to Social Security are on the horizon. The current administration has announced that the Social Security Administration (SSA) will stop delivering most physical Social Security checks on September 30, 2025. People without bank accounts into which the SSA can directly deposit checks will be exempted.

It's not clear yet what steps, if any, you may have to take to continue receiving paper checks after September 30 if you don't have a bank account. If you're currently receiving paper checks, you'll probably receive more guidance on how the SSA will handle this transition as the September deadline approaches.1

FAFSA Loans

For students planning to attend college in the 2025-2026 academic year, the Free Application for Federal Student Aid (FAFSA) is a critical step in securing financial aid. The FAFSA form for the 2025-2026 school year became available on October 1, 2024, and the deadline to submit it is June 30, 2025. However, you may want to submit your application as early as possible, since some financial aid is awarded on a first-come, first-served basis. In addition, corrections or updates must be submitted by September 13, 2025.

Completing the FAFSA can be daunting, but it's essential for accessing federal grants, loans, and work-study opportunities. You'll need to gather important documents, including your Social Security number, federal income tax returns, W-2s, and other records of money earned. If you have a dependent child who is applying, they will need your financial information.

Whether you're planning your retirement, or you or your child are heading to college, being proactive and organized will help you make the most of the opportunities available to you. Mark your calendars, gather your documents, and take the necessary steps to stay ahead in 2025.

Source:

1 Here are 6 Social Security changes President Trump has made so far

 

Don’t Miss MMBB at the ABCUSA Biennial Mission Summit

 

Join MMBB Financial Services at the ABCUSA Biennial Mission Summit: Come Seek Living Water from July 3 - 6, 2025, at the CHI Health Center Convention Center in Omaha, NE. This year's biennial promises to be an enriching experience, with MMBB offering activities designed to support and uplift church pastors, ministers and lay staff. Don’t miss:

The MMBB Member Luncheon and Address on Friday, July 4 at 11:30 a.m. will feature remarks from our Chief Executive Officer Dr. Louis P. Barbarin, CPA, our keynote speaker, Kirk Byron Jones, PhD, DMin, and uplifting music from Tyrell Belle and The Belle Singers. The theme of Dr. Jones’ presentation and MMBB’s Biennial exhibits will be “Self-Care: Seeking the Path to Wholeness.”

We also invite you to the following MMBB events at the Biennial.

  1. MMBB Cares: Helping Clergy Address Their Mental Health Needs on Saturday, July 5 at 9:30 a.m.
  2. Clergy Taxes: They Don't Have to Be Taxing on Saturday, July 5 at 2:00 p.m.
  3. Book Reading & Signing with Kirk Byron Jones, PhD, DMin on Saturday, July 5 at 4:00 p.m.
  4. Ask MMBB’s Financial Planners: Let’s Talk Money on Sunday, July 6 at 2:00 p.m.

Register for these MMBB events at www.americanbaptists2025.com.

One-on-One Sessions

  1. Book an appointment with an MMBB Financial Planning Specialist on Thursday, July 3 through Sunday, July 6 by emailing [email protected]
  2. Book an appointment with an MMBB Cares Practitioner on Thursday, July 3 through Sunday, July 6 by contacting Earl Thorp at [email protected] for more information. Availability is limited so act fast.

We look forward to seeing you!

A Message from Our CEO Smart Strategies to Reduce Student Loan and Other Debt Best Practices for Managing Church Expense Reimbursements Not All Home Improvements Are Equal Teaching Financial Literacy to Congregations Financial Fact: Navigating Key Deadlines for Social Security Changes and FAFSA Loans
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Translations of any materials into languages other than English are intended solely as a convenience to the non-English-reading public. We have attempted to provide an accurate translation of the original material in English, but due to the nuances in translating to a foreign language, slight differences may exist.

Las traducciones de cualquier material a idiomas que no sean el inglés son para la conveniencia de aquellos que no leen inglés. Hemos intentado proporcionar una traducción precisa del material original en inglés, pero debido a las diferencias de la traducción a un idioma extranjero, pueden existir ligeras diferencias.

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