Why is the FAFSA Delayed for 24-25?
The 2024-25 FAFSA go-live date has been postponed by the U.S. Department of Education from October 1, 2023, to December 31, 2023 due to all the calculation changes that are being made to the FAFSA under the FAFSA Simplification Act. The FAFSA for the 24-25 Academic Year is now available but we understand that there are significant chunks of time where the form cannot be accessed. We will continue to work with families during this time of uncertainty and change. We will be flexible with deadlines and know that there are circumstances beyond the student and family’s control with the FAFSA.
It is reported that in future years, the FAFSA will continue to be released on October 1st.
What are the main changes?
Overall, there will be fewer questions on the FAFSA. However, the full calculation of how federal aid is determined will change. The index number used for federal and state aid eligibility (formerly called the Expected Family Contribution (EFC)) will be replaced with the Student Aid Index (SAI).
Foster, homeless, and unaccompanied youth—as well as applicants who cannot provide parental information—will be able to complete the form with a provisional independent student determination and receive a calculated SAI.
What is a contributor?
- Parents, their spouses, and the student’s spouse are now call “contributors” and will have a more active role in filling out the FAFSA. Contributor’s will need to create a FSA Account.
- Anyone asked to provide information on the aid application—student, spouse, student’s parent(s) and/or stepparents(s)—is called a “contributor” to the application. This includes parents that do not have a Social Security Number. They will now be able to create an account with their ITIN or other identifier.
- The parent(s) on the FAFSA will be the parent(s) who provide the most financial support rather than instead of the parent(s) with whom you lived more during the past 12 months.
How will financial information get into the FAFSA?
The FAFSA will now pull information directly from the IRS, including family size!
What is the SAI (Student Aid Index)?
The Student Aid Index (SAI) is the new replacement for the Expected Family Contribution (EFC) from the new need analysis. The range of SAI is -1,500 (the highest need) to 999,999 (the lowest of need).
This index will be used to determine federal and state aid eligibility from this index
Who is in my family on the FAFSA?
Household size has changed to Family size. Although this is pulled from the taxes, you are able to change this number to be more current. Percent of support is no longer how to determine family. If your parent or student is able to claim someone as a dependent on their taxes, they are in the family size!
What are the main changes to the FAFSA Needs Analysis?
- Removes the number of family members in college from the calculation
- Implements separate eligibility determination criteria for Federal Pell Grants based on federal poverty levels and family size.
- Child support received will be included in assets and not as untaxed income.
- Families who own a small business/farm that also serves as primary residence will now have assets of that business/farm considered in their need-analysis calculation.
Where can I learn more?
You are able to find more on the Federal Student Aid (FSA) website.