New 24-25 FAFSA
Free Application for Federal Student Aid
Why Did Federal
Student Aid Change?
The two legislative acts, the 2019 FUTURE Act and the 2020 FAFSA Simplification Act, became law with the goal to streamline the financial aid application process, expand eligibility for federal student aid and reduce barriers for certain student populations.
When Does the 24-25 FAFSA Application Open?
For the first time in approximately 6 years, the FAFSA will NOT open on October 1st. Due to the legislative changes inspiring a complete overhaul of updates to Federal Student Aid, the 24-25 FAFSA will now open by December 31, 2023.
How Has the FSA ID Changed?
Everyone starting a FAFSA is required to have an FSA ID (account username and password) Parent contributors without social security numbers will also be able to create an FSA ID starting December 31, 2023.
Create your FSA ID 1-5 business days before starting a FAFSA.
Why Must I Agree to CONSENT on the FAFSA form?
The FUTURE Act provides that after a user's CONSENT is given, Federal Student Aid will be able to automatically import federal tax information from the IRS into the FAFSA. All Contributors a particular FAFSA will be prompted to provide CONSENT. Without Consent, no Federal Student Aid will be processed for the student applicant.
Who is my parent CONTRIBUTOR on the FAFSA?
A legal parent includes a biological, or adoptive parent, or a person for example, that the state allows to be listed as a parent on a birth certificate. The Following are NOT considered parents unless they have adopted the student: Grandparents, foster parents, legal guardians, older brothers or sisters, widowed stepparents, and aunts and uncles.
What Assets Do I Have to Report on the FAFSA?
Families with an adjusted gross income of greater than $60,000 (up from $50,000) or those who filed certain schedules will be required to report assets. Reporting the net worth of a business or family farms will also be required. Current FAFSA filers may see an increase in their SAI (formerly the EFC) due to having to report all business or farm net values with no change in income.