Changes to the 2024-2025 FAFSA
The Department of Education is making several changes to the 2024-2025 FAFSA and it will not be available as of the traditional October 1st date. The anticipated launch date of the 2024-25 FAFSA will be in December 2023.
Why is the FAFSA application changing?
Congress recently passed the FAFSA Simplification Act to streamline the financial aid process for students and families.
While in some cases FAFSA simplification could increase students’ financial aid eligibility, others may see a decrease in aid. Several important changes that can impact the application process and resulting financial aid offers for students are outlined below.
- Easier FAFSA application process with a reduced number of questions.
- The Federal Pell Grant expands to more students and will link eligibility to family size and the federal poverty level.
- The Estimated Family Contribution (EFC) has been replaced by the Student Aid Index (SAI). The SAI is a different way to determine aid eligibility.
- Schools will use the SAI to determine eligibility for federal financial aid programs.
- Unlike the EFC calculation, the SAI will not include the number of family members in college. This may reduce need-based aid eligibility for current students with siblings in college.
- The guidance on which parent income to report for students whose parents are separated or divorced has changed to the parent who provides the most financial support to the student, rather than the parent who lives at the student’s primary residence.
- To speed up processing time, parents without a Social Security Number will be able to apply for an FSA ID and submit their FAFSA application online. They will no longer have to print, sign and mail the form.
- Students who qualify for a dependency override due to homelessness, or not being able to access their parents’ financials, no longer need to recertify their dependency status each year (unless their situation changes).
- Male students under the age of 26 are no longer required to register with the Selective Service System to receive federal financial aid.
This list of changes by the Department of Education is not finalized. Please check back often as information may be updated based on guidance from the Department of Education. You can also find additional information here: https://studentaid.gov/help-center/answers/article/fafsa-simplification-act.