FAFSA-Simplification
The FAFSA Simplification Act is a sweeping redesign of the processes and systems used to award federal student aid. These changes will make it easier for students and families to complete and submit the Free Application for Federal Student Aid (FAFSA) form and expand access to federal student aid.
If this is your first time filling out the FAFSA, then these changes won’t seem “new” to you, but this will still be valuable information for you to review and understand to prepare for your submission.
We recommend that you complete the FASFA as early as possible after it becomes available. If you have any questions about the FAFSA process, please contact Columbia Central.
Changes to the FAFSA
The Completion Date
Normally the FAFSA becomes available October 1st each year, but the 2024-2025 FAFSA will be available in December 2023. Federal Student Aid (FSA) hasn’t released a specific date yet and we will notify all current students and applicants when the official opening date is announced.
Streamlined Application
There will be fewer questions when completing the 2024-25 FAFSA and an easier way to transfer tax information directly from the Internal Revenue Service (IRS). You just need to give your consent for the transfer of data.
You must create a log in
With the new interface between the simplified FAFSA and the IRS, you will need to create an FSA ID, if you don’t already have one. Your FSA ID is a username and password that will protect your private information. You will need to use a multi-factor verification to log in using your FSA ID, an additional verification of your identity just like you might already do with your online bank or credit card.
Anyone asked to provide information on the FAFSA – student, spouse, student’s parent(s) and/or stepparent(s) – will be called a “contributor” to the application.
Changes to Your Family Contribution
The New Student Aid Index
A major goal of the FAFSA Simplification Act is to make the amount of aid you are eligible for more transparent and predictable. With the 2024-25 FAFSA, the term Expected Family Contribution (EFC) will be replaced with the Student Aid Index (SAI).
Families with more than one member in college
Under the old Estimated Family Contribution (EFC) system, if you had multiple family members in college at the same time, your EFC was split between them. Under the new Student Aid Index (SAI), the FAFSA will still ask questions about the enrollment status of other family members, but it won’t consider that number in its calculation.
Changes to Pell Grants
Pell Grants will now be calculated using the SAI or under certain circumstances, your Adjusted Gross Income (AGI) from your tax return. This should simplify eligibility.
The SAI and AGI levels for aid have also been adjusted and should result in a greater number of students qualifying for more Pell Grant funds.
Resources
Federal Student Aid: What is the FAFSA Simplification Act? | Federal Student Aid
