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Changes are coming for the 2024-2025 FAFSA

By July 10, 2023No Comments3 min read

The FAFSA (Free Application for Federal Student Aid) is the form that high school seniors and college students must complete in order to apply for federal financial aid. Additionally, there are states, colleges, universities, and scholarship organizations that may also require and use the FAFSA information to determine student eligibility for their aid.  By not completing the FAFSA, many students cannot access need-based financial aid, as well as access to federal student or parent loans.

The FAFSA Simplification Act represents significant changes that will be starting in the 2024–2025 award year. The FAFSA changes fulfill legislation passed in 2020 aiming to expand access to federal aid.  Below are only a few of the changes that are expected on the FAFSA form and process.

1

The 2024-2025 FAFSA will not open on October 1st.

Due to the major redesign to the FAFSA, the open date will be delayed and is expected to open sometime December 2023.
2

The FAFSA will be much shorter and more streamlined.

The current FAFSA asks more than 100 questions and that will be drastically reduced on the new form.
3

The term Expected Family Contribution (EFC) will be known as Student Aid Index (SAI).

The EFC is an index number that colleges use to determine a family’s financial need relative to other applicants. Students and families will experience a change in the methodology used to determine aid.
4

Having multiple children in college will not benefit the family.

Currently, financial aid eligibility increases for families with more than one child enrolled in college at the same time. This will not be the case with the new changes.
5

In cases of divorce or separation, which parent fills out the FAFSA?

Currently, in a two-parent household, either parent can complete the FAFSA. In the new FAFSA, the parent that provides the greater portion of the student’s financial support is the parent that should be reported on the FAFSA.
6

The term “Contributor” will be new to FAFSA.

This term refers to anyone that must provide information on the student’s FAFSA (e.g. student, spouse, student’s parent(s), and stepparent(s)).
7

Consent to share federal tax information will now be required from every FAFSA Contributor.

If consent is not provided, the student will not be eligible for federal student aid.
8

Parents without a Social Security Number (SSN) will be able to create an FSA ID.

Currently those without a SSN are not able to electronically sign the application and have to mail in a paper signature form. The new FAFSA, will allow the FAFSA to be signed and submitted electronically for most students.
Keep your eyes open for additional information, updates, and resources.

Stay connected for more information and resources about FAFSA:

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