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2024-25 FAFSA

2024-25 FAFSA Information

Beginning with the 2024-25 year, the Free Application for Federal Student Aid (FAFSA) is introducing new changes that represent the most significant changes made to the FAFSA in decades. 听The , which was passed by Congress in 2020, prioritized simplifying the FAFSA application process, resulting in many changes to how aid eligibility is determined, effective with the 2024-25 academic year.

Availability of the 2024-25 FAFSA

The availability date for the FAFSA will be available in December 2023. 听Updates on the availability date will be posted on this Webpage.

SOME CHANGES TO THE FAFSA

One of the key improvements is the听听itself as the maximum number of questions will be reduced significantly.听听Additionally, not all students will need to answer all of the questions due to the FAFSA's dynamic nature on the web. Due to the revised way of collecting tax and income information, certain questions have been deleted and others are no longer required.

Beginning with the 2024-25 year, contributors to the FAFSA, [students, spouses, and parents] submitting prior-prior year [2022] tax information on the FAFSA will need to use the IRS Direct Data Exchange (DDX) to retrieve their tax information or non-filing status.听听As a result, there may be fewer questions that need to be answered. Therefore, contributors to the FAFSA with tax information reported must obtain an听FSA ID.

The 2024-25 FAFSA will now calculate a Student Aid Index (SAI) and no longer utilize the Expected Family Contribution [EFC]. 听The SAI, unlike the EFC, may be a negative number, with a minimum amount of -1500.

Previously, the FAFSA calculated the number of household members attending college into the EFC, dividing it proportionately to determine aid eligibility.听听Beginning with the 2024-25 FAFSA, the number of household members in college will not be calculated into the SAI to determine aid eligibility. This decision was made by Congress and may only be modified by Congress.

In some instances, contributors to the FAFSA will be required to report the value of their farms or small businesses.听听Contributors to the FAFSA who qualify must disclose their farm/small business worth on the听, and they may factor into the SAI calculation.听

  • Simplified FAFSA Application

    One of the key improvements is the听听itself as the maximum number of questions will be reduced significantly.听听Additionally, not all students will need to answer all of the questions due to the FAFSA's dynamic nature on the web. Due to the revised way of collecting tax and income information, certain questions have been deleted and others are no longer required.

  • Tax/Income Data

    Beginning with the 2024-25 year, contributors to the FAFSA, [students, spouses, and parents] submitting prior-prior year [2022] tax information on the FAFSA will need to use the IRS Direct Data Exchange (DDX) to retrieve their tax information or non-filing status.听听As a result, there may be fewer questions that need to be answered. Therefore, contributors to the FAFSA with tax information reported must obtain an听FSA ID.

  • Student Aid Index (SAI)

    The 2024-25 FAFSA will now calculate a Student Aid Index (SAI) and no longer utilize the Expected Family Contribution [EFC]. 听The SAI, unlike the EFC, may be a negative number, with a minimum amount of -1500.

  • Number in College not Calculated in SAI

    Previously, the FAFSA calculated the number of household members attending college into the EFC, dividing it proportionately to determine aid eligibility.听听Beginning with the 2024-25 FAFSA, the number of household members in college will not be calculated into the SAI to determine aid eligibility. This decision was made by Congress and may only be modified by Congress.

  • Inclusion of family farms or small businesses

    In some instances, contributors to the FAFSA will be required to report the value of their farms or small businesses.听听Contributors to the FAFSA who qualify must disclose their farm/small business worth on the听, and they may factor into the SAI calculation.听

ITEMS THAT ARE NOT CHANGING

The FAFSA will continue to be a mandatory application for federal aid consideration, as well as for determining need-based institutional and state aid eligibility.听听

The questions determining whether parents need to complete the FAFSA along with the student will remain the same.

The FAFSA will still require tax information from the prior-prior year, [2022]. However, families experiencing significant reductions in income may explore the听Special Circumstances听process to ensure their current financial situation is considered.

Degree-seeking students who complete the FAFSA and are not in default on their previous student loans, have not yet met their aggregate limit, and have met all other听听will remain eligible for student loan amounts.

Students will need to complete the FAFSA each year, utilizing prior-prior year tax and income information.听听听Families with special circumstances, such as reduced income in the current year, may review the information on the听Special Circumstances听辫谤辞肠别蝉蝉.

The questions regarding an applicant's sex, race, and ethnicity will have no effect on federal student aid eligibility but are included for statistical purposes and data collection only.听听

  • FAFSA Requirement

    The FAFSA will continue to be a mandatory application for federal aid consideration, as well as for determining need-based institutional and state aid eligibility.听听

  • Determining Dependency Status

    The questions determining whether parents need to complete the FAFSA along with the student will remain the same.

  • Prior, Prior Year Tax and Income Information

    The FAFSA will still require tax information from the prior-prior year, [2022]. However, families experiencing significant reductions in income may explore the听Special Circumstances听process to ensure their current financial situation is considered.

  • Eligibility for Student Loans

    Degree-seeking students who complete the FAFSA and are not in default on their previous student loans, have not yet met their aggregate limit, and have met all other听听will remain eligible for student loan amounts.

  • File a FAFSA Each Year

    Students will need to complete the FAFSA each year, utilizing prior-prior year tax and income information.听听听Families with special circumstances, such as reduced income in the current year, may review the information on the听Special Circumstances听辫谤辞肠别蝉蝉.

  • Questions regarding Sex, Race, and Ethnicity

    The questions regarding an applicant's sex, race, and ethnicity will have no effect on federal student aid eligibility but are included for statistical purposes and data collection only.听听

When to file a FAFSA?

It is essential for both new and returning students and their families to prioritize completing the 2024-25 FAFSA as soon as it becomes available in December 2023.

澳门六合彩 will make every effort to begin awarding financial aid to new students with completed FAFSAs as soon as possible. We will provide detailed anticipated timelines/deadlines on this webpage.

When to Expect Offer Letters?

Awards for New students will begin awarding with completed FAFSAs as soon as the systems are ready.

Awards for Returning students with completed FAFSAs will be made before the end of the spring term.

Graduate students applying for Direct Unsubsidized loans with completed FAFSAs will be processed on an ongoing basis once the systems are ready.

Please note that the U.S. Department of Education is implementing changes to the 2024-25 FAFSA application and process, and the information provided on this Webpage will be updated as further details become available.