FAFSA is a graduation requirement and benefit to all students pursuing life after high school!
*NOTICE: THE INFORMATION DISCUSSED ON THIS PAGE PERTAINS TO THE ACADEMIC YEAR 2024–2025*
For the upcoming academic year 2024–2025, the Free Application for Federal Student Aid (FAFSA) has undergone noteworthy changes. However, certain aspects of FAFSA remain consistent:
- The available types of aid for students and federal student loan limits remain unchanged.
- FAFSA is still mandatory for federal financial aid consideration and for specific state and institutional aid programs.
- Dependency status questions persist to determine whether parents must complete the FAFSA.
- The application continues to request tax information from the prior-prior year, with students reporting 2022 income on the 2024-25 application.
- Questions about gender, race, and ethnicity are for data collection only and have no impact on federal student aid eligibility.
- Admission application deadlines remain unaffected.
FAFSA Alerts and Issues
We are aware that the new FAFSA has experienced glitches and changes since opening Dec 31st. If you are experiencing any issues, please refer to this this link form FAFSA and the Department of Education and/or reach out to your campus counselor or CCMR dean.
Here are the key changes for the 2024-2025 FAFSA
FAFSA Simplification Act: The FAFSA Simplification Act brings about a comprehensive overhaul in the processes and systems for offering federal student aid starting in the 2024-25 academic year. The Act introduces several benefits, including a streamlined application process, an improved user experience, expanded eligibility for federal student aid, and reduced barriers for specific student populations (e.g., homeless and unaccompanied youth, incarcerated students, English language learners, and students from low-income backgrounds).
- Expected Family Contribution (EFC) is now Student Aid Index (SAI).
- Student Aid Report (SAR) is now FAFSA® Submission Summary (FSS).
- Internal Revenue Service (IRS) Data Retrieval Tool (DRT) is now IRS Direct Data Exchange (DDX).
FAFSA Changes: The number of questions on the FAFSA has been reduced from 108 to 46, but not all questions may be prompted for students and families.
Who Must Provide Information: Contributors include the student, student's spouse (if applicable), biological or adoptive parent, or the spouse of a remarried parent on the FAFSA.
New FAFSA Structure: The FAFSA is now student-driven, and contributors will be determined based on the student's answers. Dependent students with unmarried parents living together and independent students who are married and filed separately will have specific requirements.
Required Consent: All required contributors must provide consent for the Federal Tax Information (FTI) transfer from the IRS. Consent, facilitated by an FSA ID, is crucial for successful FAFSA processing and cannot be revoked for one academic year.
Dependent Students - Changes to Parent of Record: The FAFSA now considers the parent providing the most financial support, changing the previous emphasis on the parent with whom the student lived the most.
Expected Family Contribution (EFC) Changes to Students Aid Index (SAI): The new needs analysis formula adjusts how eligibility for federal student aid is determined, removing the number of family members in college from the calculation. The Federal Student Aid Estimator helps estimate the SAI.
Federal Pell Grant Expansion: The Federal Pell Grant expands eligibility to more students, linking it to family size and federal poverty guidelines. The grant amount is based on enrollment intensity.
Household Size and Number in College: Though the FAFSA asks about household members in college, this information does not affect the SAI calculation.
IRS Functionality and Federal Tax Information (FTI): The IRS Direct Data Exchange (DDX) replaces the IRS Data Retrieval Tool (DRT) for importing FTI, simplifying the FAFSA process.
Asset Reporting: Families must report the value of small businesses or family farms. If the family farm includes the principal residence, net value calculations adjust accordingly.