24-25 Major FAFSA Changes

FAFSA Simplification

Due to the passing of the Free Application for Federal Student Aid (FAFSA) Simplification Act on December 27, 2020, as a part of the Consolidated Appropriations Act, the FAFSA is changing for the 2024-2025 academic year.

You can expect the following changes:

• The 2024-2025 FAFSA will not be available until December 2023. The 2024-2025 FAFSA determines your financial aid eligibility for the fall 2024, spring 2025, and summer 2025 semesters.
• The FAFSA application process will be streamlined and easier for students to complete.
• New terminology will be added to the FAFSA.
• Eligibility for federal financial aid will be expanded.

We will continue to update this page as additional information becomes available. You can learn more about the specific changes, timeline, and how to prepare below.

FAFSA changes for 2024-2025

FAFSA completion date

• Instead of opening in October, the 2024-2025 FAFSA will not be available until December 2023. At this time, we do not know the exact date in December. After the 2024-2025 academic year, the FAFSA will be available in October as usual.

Streamlined application process

• The FAFSA will feature fewer questions, fewer requirements, and retrieve tax information using a direct data exchange from the IRS instead of the previous IRS Data Retrieval Tool.

New terminology and information

• The need analysis formula to determine financial aid, formally known as the Expected Family Contribution (EFC), will now be referred to as the Student Aid Index (SAI). The new formula removes the number of family members in college from the calculation, better reflects the FAFSA results, and implements a separate eligibility determination criterion for Federal Pell Grants.
• The FAFSA is introducing the new term " contributor" which refers to anyone who is required to provide information on a student’s FAFSA form, including the student, the student’s spouse, a biological or adopted parent, or the parent’s spouse. Being a contributor does not imply responsibility for the student's college costs.

Expanding Pell Grant eligibility

• The adjustments to the new Student Aid Index (SAI) calculation will expand Federal Pell Grant eligibility to more students.

Timeline

December 2023

• The Free Application for Federal Student Aid (FAFSA) for the 2024-2025 academic year opens.

Spring 2024

• Estimated Financial Aid Notices begin going out to undergraduate first-year and transfer students.
• If you are admitted to the University and have completed the financial aid process, you will receive an Estimated Financial Aid Offer from our Financial Aid Office via email and mail. This information will also be available in your Admissions Status Portal.

Mid - Summer 2024

• Returning students will receive an Estimated Financial Aid Offer the middle of June via email from the Financial Aid Office.

Prepare for the FAFSA

While the 2024-2025 FAFSA won’t be available until December, you can still prepare by doing the following:

• Create an FSA ID on the Federal Student Aid website and assist contributors, such as your parent(s) or spouse, in creating an FSA ID. If you previously completed a FAFSA, you already have an FSA ID and do not need to create a new one. That is the same for your parent if they previously signed your FAFSA.
  
  With the FSA ID, you can fill out the FAFSA when it’s available, sign your Master Promissory Note (MPN), apply for repayment plans, complete loan counseling, and use the Public Service Loan Forgiveness Help Tool.
• Watch for emails from the U.S. Department of Education to ensure you don’t miss any important updates.
• Opt in to SMS (text) messages by logging into your StudentAid.gov account to receive up-to-date notifications and information.
• Follow Federal Student Aid on X (Twitter), Instagram and Facebook for announcements and resources.

Resources

• Federal Student Aid - What is the FAFSA Simplification Act?
• Federal Student Aid Estimator - With this tool, students can find out how much federal student aid they may be eligible for starting with the 2024-2025 academic award year. This estimator is  not the actual FAFSA form. The 2024-2025 FAFSA will be available in December 2023.