The new 24-25 FAFSA is coming December 31, 2023!
What is FAFSA simplification?
The FAFSA Simplification Act was passed to streamline financial aid process. The act included provisions to change the way Financial Aid is offered, expand eligibility to more students, and reduce the number of questions on the FAFSA.
Key Changes to the 24-25 FAFSA
Anyone who is required to add information to a FAFSA application is considered a contributor. For dependent students, this would include a parent (or both), and for independent students, this may include a spouse. Each contributor will be required to have an FSA ID, and consent to sharing their information on the FAFSA.
DIRECT DATA EXCHANGE AND CONSENT
Manual entry of taxes will be a thing of the past! Any person contributing to or completing the FAFSA must now consent to use the IRS Direct Data Exchange which will pull IRS data directly into the FAFSA. Consent is a requirement, and those who do not consent will be ineligible for Federal aid.
STUDENT AID INDEX
The Student Aid Index (SAI) is a number calculated upon completion of the FAFSA. This is replacing the Estimated Family Contribution (EFC). An SAI, like an EFC, is used in determining eligibility for federal and state aid. It is anticipated that additional students will qualify for Pell grants due to this change.
Curious what you may qualify to receive? Try the SAI Estimator!
Students requesting a review or appeal of dependency status will now appeal their unusual circumstances. This can include any factor that impacts the ability to provide parent (or contributor) information. Students experiencing unusual circumstances should contact financial aid after filing the FAFSA to discuss any required materials.
Resources and Important Links
|FAFSA website||FAFSA® Application | Federal Student Aid|
|FAFSA Simplification information||What is the FAFSA Simplification Act? | Federal Student Aid|
|FSA ID Website||FAFSA Create Account|
|FSA YouTube Library||Federal Student Aid - YouTube|
New FAFSA FAQ’s
What if one of my contributors doesn’t have an email address?
If a contributor doesn’t have an active email, one should be created for the purposes of the FAFSA process.
If my parent already has an FSA ID, do they need to request a new one?
No, currently existing FSA IDs will be used for the new FAFSA; however, additional parents may need to create an FSA if they are required contributors to the FAFSA.
Will my FSA ID change?
Nope, you will use the same ID you previously created.
I’m new to college/UW-Parkside, what can I do now to prepare for the FAFSA?
You, and potentially your parent(s), should create an FSA ID now so that you can file the FAFSA as soon as it opens.
What if my parent isn’t a US Citizen, doesn’t have an SSN, or a Taxpayer Identification Number (ITIN)?
A parent's citizenship status doesn’t affect a student's eligibility for Federal Aid. The parent is still required to submit their earning information on the FAFSA and will need an FSA ID to complete the form and sign.
When should I submit my FAFSA?
As soon as possible! The earlier you file, the sooner you will know your Financial Aid eligibility. Our ‘priority’ deadline is April 15, but you can file at any time.
Will I need to report the value of my small business/farm?
Yes. Previously, this was not required on the FAFSA, but is for the 2024-2025 FAFSA.