March 2024
Financial Planning

FAFSA FORM CHANGES - 2024-2025 SCHOOL YEAR

By Myra Alport

Late 2020, Congress approved changes to the Free Application for Federal Student Aid known as FAFSA; those changes are now in effect for the 2024-2025 school year.

What are those changes? The 2024–25 FAFSA form expands eligibility for federal student aid, including Pell Grants, and provides a streamlined user experience. Applicants will be able to skip as many as 26 questions, depending on their individual circumstances. Some applicants could answer as few as 18 questions, which could take less than 10 minutes!

There have been multiple hiccups along the way causing delays. In years past, October 1 was the annual start date to apply for financial aid. However, for the 2024-2025 school year, the release date was pushed back to late December 2023. To further complicate things, weeks after the launch the U.S. Dept of Education discovered a math error that caused further setbacks. As a result, financial aid offers to students are still pending and college administrators don’t expect to receive the FAFSA data until mid-March.

This puts the pinch on everyone involved: students who need to make changes to their already submitted FAFSA forms, students facing a May 1 deadline who apply by non-binding Early Action and Early Decision pathways, and the college and university departments that must process the data to offer financial aid packages.

What is the best course of action for anxious parents in this situation? Contact the financial aid office at the colleges your student has applied to for any updates if time is of the essence. June 30th is the deadline to complete the FAFSA application. Visit https://studentaid.gov/h/apply-for-aid/fafsa

The good news is that the Department of Education has said that it plans to revert to an October 1 start date for the 2025-2026 school year. Fingers crossed!

For more information on the changes to the FAFSA, some resources are listed below. Please let us know how we can help.

https://www.nerdwallet.com/article/loans/student-loans/fafsa-simplification-8-changes-to-expect https://studentaid.gov/articles/fafsa-changes-coming/

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