2024-25 FAFSA Simplification

 Exciting news!  The 2024-25 FAFSA is out!  The 2024-25 Free Application for Federal Student Aid (FAFSA) has been released at https://studentaid.gov/h/apply-for-aid/fafsa.
Here are some key facts you need to know:
  • Delayed Release: The FAFSA form, allowing students to seek financial assistance for the 2024-25 academic year, had a "soft launch" over the weekend. This is three months later than its usual release date of October 1.
  • Streamlined Form: The new FAFSA form is now more user-friendly, featuring only 36 questions compared to the previous 108.  Expanded College Choices: Students can now list up to 20 different colleges on the online FAFSA, doubling the previous limit of 10.
  • FSA ID Login: Every applicant must create an FSA ID login.   Notably, parents without a Social Security Number (SSN) can now also create an FSA ID login.
  • IRS Data Retrieval Tools: The FUTURE Act amendments have replaced the IRS Data Retrieval Tools with a more efficient Direct Data Exchange between the IRS and the Department of Education/Federal Student Aid.
  • Increased Pell Grant Eligibility: Lower and moderate-income families may now qualify for Pell Grants more than ever before.  Pell Grants, which do not require repayment, aim to support families unable to contribute significantly to their child's higher education.
Note:  Students who usually complete the California Dream Act Application (CADAA) can also submit the 2024-25 application at https://dream.csac.ca.gov/landing.
Make sure to take advantage of these updates and submit your FAFSA/CADAA on time for the priority financial aid process at your school (Miramar).

SD Miramar Financial Aid would like to share with you some very important information regarding the new FAFSA Simplification, aiming for a Better FAFSA, Better Future.  This will be part 1 of a series of informational updates regarding the New FAFSA Simplification – Better FAFSA, Better Future as part of the Consolidated Appropriations Act, 2021.   Please share with your students as major changes are coming for the upcoming school year 2024-25. We will provide awareness to the campus and community frequently as the Department of Education releases the information.

Why do I need to know this?

There will be major changes to both the FAFSA form (financial aid application) and the formula that calculates the student’s eligibility to receive federal aid. It is incumbent on all of us to share these important changes with our students so that every student will not stumble into barriers of not knowing what to do when they start to complete the 2024-2025 FAFSA form.

At a glance, here are some highlights the financial aid staff would like to bring to your attention:

  1. What changes are coming to the 2024-2025 FAFSA?
  • With the FAFSA Simplification Act, there are significant changes to the FAFSA Application process which includes changes to the:
    • FAFSA form
    • How students and families will complete the application
    • Eligibility calculation
  1. Can you elaborate more on the specific changes coming to the 2024-2025 FAFSA?
  • Application will NOT be available on October 1st, ETA in December.
    • More information will be sent out once we get an update from the Department of Education.
  • Students will now be able to add up to 20 different colleges on the online FAFSA, instead of 10 colleges.
  • Online application questions will be reduced.
  • Parent information will now be able to transfer to all their children who complete the FAFSA.
  • Parent wizard section -- helps students identify which parent(s) are required to complete the FAFSA
    • There will be a consent requirement to this, where it introduces the roles and contributors (EX. student, parent, spouse)
  • Parents with no Social Security Number (SSN) will now be able to create an FSA ID login.
  • Removal of:
    • Student housing choice question
    • Save key
    • IRS Data Retrieval Tools (FUTURE Act amends) -- it instead will be a Direct Data Exchange between the IRS and Dept. of ED/FSA.
  • Addition of voluntary post-application survey at the end of the FAFSA questions regarding race/ethnicity, and sex/gender.

 

  1. Interested in seeing a demo of the New 2024-25 FAFSA form?

 

Note:  Since this FAFSA demonstration webinar schedule conflicts with our upcoming convocation event - we will check if there will be a recording of the demo for convenience and later viewing…

 

If you have any questions, please do not hesitate to connect with the Financial Aid Office.  We know this is a huge change for the 2024-2025 FAFSA form, but we are here to help you. Again, we will try to update everyone on a frequent basis once we get more information from the Department of Education.