What changes to expect from the 2024-2025 FAFSA application
SANTA MARIA, Calif. – The Department of Education launched a soft opening for the 2024-2025 FAFSA application this weekend with changes for an easier process.
As of now, incoming and returning students must check the studentaid.gov website for application availability. The application is only available for short periods of time as they continue to work on the final version.
Key changes to keep in mind, according to the Department:
FSA ID: Everyone inputting information; such as student, parent or guardian must create an FSA ID. Previously only one student and one parent was necessary. That is no longer the case. All contributors must create the FSA ID before beginning the application. FSA ID may take up to three days to be received.
IRS Data Retrieval Tool: The IRS Data Retrieval Tool is no longer optional. If contributor does no consent to the IRS tool the student will not be eligible for financial aid.
Student Aid Index: The Student Aid Index is replacing the Expected Family Contribution. Both formulas determine income, assets, taxed and untaxed. The new formula will no longer benefit families with multiple college students. The new formula will automatically place students with families who are not required to file federal income taxes to be considered for a higher financial aid amount.
Federal Pell Grants: More students will be eligible for federal Pell Grant. According to the Department of Education over 600 thousand new students will be eligible this year. It will also allow 1.5 million more students to receive the maximum Pell Grant award.
Last year the Pell Grant was $7,395. This may bring the number of students that receive the Pell Grant to 5.2 million.
Number of Schools: Students will now be able to send their fafsa application to 20 schools of their choice. The previous application allowed students to only request their financial aid package from 10 schools.
Languages: The application will now be available in 11 languages. The lates application was only available in English and Spanish.
Due to the FAFSA application, changes and soft opening delays are expected. The Education Department recommends students keep up with their college's deadlines. The release date for the final version of the FAFSA application has not yet been released.
