In an effort to simplify the financial aid process you will see a new FAFSA for 2024-2025, this is part of what is known as FAFSA Simplification. We are learning more about the changes every day and will do our best to bring you updates as we have them. To start, you can read about why the changes are being made, and what changes are being made on the Federal Student Aid Website to learn about FAFSA Simplification.
What is important to know right now?
- The 2024-2025 FAFSA application will not be available October 1 like usual
- We are currently being told it will be available in December, but do not have a firm date
- You will still be able to do the CSS Profile October 1
Only new incoming students or students who have had a drastic change in finances need to submit the CSS Profile
What is changing?
- There will no longer be an EFC, the new formula will be Cost of Attendance (COA) – Student Aid Index (SAI) = Financial Need
- There will be a FAFSA Simulator Tool to get an idea of potential changes
- Available some time in September, check back for more!
- There will be some new terms used throughout the FAFSA
What are the benefits?
- A more streamlined application process
- Expanded eligibility for federal financial aid
- Reduced barriers for certain student populations
- A better user experience for the FAFSA form
But how does this all impact me?
Besides timing, these changes may have no impact to you at all! Below are some common questions that may come up regarding FAFSA Simplification that we put together to help. If you still have questions, as always feel free to reach out!
Have your 2022 tax documents ready to go come December! Filling out the FAFSA can be a great winter break activity. It will be important to note that each contributor can complete only their part of the FAFSA (student or parent). The second contributor will receive an email to login and complete their part once the first contributor is finished and invites them.
Not yet! Because the new FAFSA is not ready we are not able to program the calculator to give you an accurate estimate of aid either. We are also working on bringing you a new and improved calculator. We hope to have this tool ready for you all by early December so keep an eye out. The current calculator on our website can not give you an estimate of aid for 2024-2025 academic year.
If you apply early decision we will do our best to get your an aid offer within 3-4 weeks of being admitted. We appreciate your patience as we navigate the new FAFSA!
Our goal is to get aid information to returning students as quickly as possible. We plan to begin releasing aid offers or requesting additional information for our returning students who have completed the FAFSA in February.