When Is Fafsa Due 2024

The 2024–25 Free Application for Federal Student Aid (FAFSA®) form will soon be available, bringing changes for students and families. In this article, we will explore seven critical ways the FAFSA experience is changing and provide important information to help you navigate the process.

The 2024–25 FAFSA Form Launch Date

The FAFSA form for the 2024–25 academic year will be launched by December 31, 2023. It is crucial to note that the federal deadline to submit the 2024–25 FAFSA form is June 30, 2025. However, it’s essential to check for updates on financial aid deadlines from specific states and colleges. Visit StudentAid.gov/fafsa-deadlines for the most up-to-date information.

Before filling out the FAFSA form, make sure you know which form you need to complete. The right form(s) must be submitted to apply for federal student aid.

Contributors on the FAFSA Form

On the 2024–25 FAFSA form, anyone providing information, consent, and approval will be considered a contributor. Contributors include you, your spouse, your biological or adoptive parent, or your parent’s spouse. It is important to note that other family members, such as grandparents, foster parents, legal guardians, siblings, aunts, and uncles, aren’t considered contributors, even if they have supported you.

Being identified as a contributor on the FAFSA form does not make your family member responsible for paying your education costs. The online FAFSA form will guide you on who needs to be a contributor based on specific questions you answer.

Consent and Approval for Federal Student Aid

Both you and your contributors must provide consent and approval to have the IRS transfer your federal tax information into the FAFSA form. Even if your contributors don’t have a Social Security number (SSN), haven’t filed a tax return, or filed a tax return outside the U.S., they must still provide consent and approval. Failure to provide consent and approval will make you ineligible for federal student aid.

Accessing the FAFSA Form

To access the online 2024–25 FAFSA form, you must log in to your StudentAid.gov account. If you don’t have an account, you and your contributors need to create separate accounts to access, provide consent and approval, sign, and submit the form.

Beginning with the 2024–25 FAFSA form, each contributor can create a StudentAid.gov account, even without an SSN. As a student, you will need to enter your SSN (unless you’re a citizen of the Freely Associated States) to create your StudentAid.gov account. Once you and your contributors have created your accounts, you can complete your sections of the FAFSA form.

Changes to the Financial Aid Eligibility Formula

Starting in the 2024–25 award year, your Student Aid Index (SAI) will replace the Expected Family Contribution (EFC). The SAI is an index number calculated using the information provided on the FAFSA form. It is not a dollar amount and can range from -1500 to 999999. Your college, career school, or trade school will use the SAI to determine your financial aid eligibility.

Expanded Federal Pell Grant Eligibility

More students will qualify for Federal Pell Grants. While your SAI contributes to determining your Pell Grant eligibility, it’s not the only factor. Other information, such as family size and federal poverty guidelines, will also be considered. The maximum Pell Grant award for the 2024–25 award year will be announced in 2024. Even if you don’t qualify for the maximum award, you may still be eligible based on other information provided.

FAFSA Submission Summary

After submitting your FAFSA form, you will receive an email with instructions on how to access your FAFSA Submission Summary. This summary replaces the Student Aid Report for the 2024–25 award year. The FAFSA Submission Summary highlights your eligibility for federal student aid, including your answers from the FAFSA form, your SAI, and an estimate of the aid you may receive. Please note that the FAFSA Submission Summary is not an aid offer, which will come directly from the schools you’ve applied to.

For more information about the 2024–25 FAFSA form, you can visit the “FAFSA Frequently Asked Questions” YouTube playlist on the Top Q&A website.

FAQs

Q: When will the 2024–25 FAFSA form be available?
A: The 2024–25 FAFSA form will be available by December 31, 2023, on the Top Q&A website.

Q: Can other family members besides parents be considered contributors on the FAFSA form?
A: No, only you, your spouse, your biological or adoptive parents, and your parent’s spouse can be considered contributors on the FAFSA form.

Q: What happens if consent and approval are not provided for the transfer of federal tax information?
A: Failure to provide consent and approval will make you ineligible for federal student aid.

Q: Can I access the FAFSA form without a StudentAid.gov account?
A: No, you need to create a StudentAid.gov account to access and submit the FAFSA form.

Q: How is financial aid eligibility determined in the 2024–25 award year?
A: Financial aid eligibility will be determined using the Student Aid Index (SAI), which replaces the Expected Family Contribution (EFC).

Q: Will more students be eligible for Federal Pell Grants?
A: Yes, starting in the 2024–25 award year, more students will qualify for Federal Pell Grants.

Q: What is the FAFSA Submission Summary?
A: The FAFSA Submission Summary replaces the Student Aid Report and provides an overview of your eligibility for federal student aid after submitting the FAFSA form.

Conclusion

The 2024–25 FAFSA form introduces several significant changes that students and families need to be aware of. By understanding these changes and following the necessary steps outlined in this article, you can successfully navigate the FAFSA application process. Remember to visit Top Q&A for more information and answers to frequently asked questions about the FAFSA form.

Article by Top Q&A

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