Truth matters. Community matters. Your support makes both possible. LAist is one of the few places where news remains independent and free from political and corporate influence. Stand up for truth and for LAist. Make your year-end tax-deductible gift now.
A New Version of FAFSA Comes Out This Year. Here's What You Need To Know
Changes are coming to how you apply for federal student aid.
(
Andrii Dodonov/Getty Images
/
iStockphoto
)
The U.S Department of Education is getting ready to release a new version of the financial aid application later this year and you have until May 23 to submit comments on a current draft of the new version.
Why it matters
Many families preparing to send their kids off to college are in the midst of filling out the Free Application for Student Aid, also known as the FAFSA. It's a lengthy and tedious process that many find frustrating and confusing, but that could soon change with the department's efforts to streamline the process.
Why now
Back in 2020, Congress passed the FAFSA Simplification Act to make the process easier. Under that act, changes to the FAFSA application would go into effect for the 2024-2025 school year.
FAFSA applications also open later — December 1.
What are the changes
FAFSA will replace the Expected Family Contribution (EFC) with the Student Aid Index (SAI). The EFC typically measured how much your family would be able to pay for college. That number then determined how much financial aid you qualified for.
Now, the new formula using the SAI removes the number of family members in college from the calculation and implements separate eligibility requirements for Federal Pell Grants.
Sponsored message
You can access a breakdown of the how the SAI calculations will work in determining your eligibility for a Pell Grant here.
Access to Pell Grants are also expanding. As of the 2023-2024 school year, incarcerated students attending an approved education program were able to regain their eligibility for a Pell Grant. And, the Federal Pell Grant lifetime eligibility was restored to students whose school closed during the school year.
The FAFSA already removed questions on drug-related convictions and the Selective Service registration, which is part of a federal law to require all 18 to 25 year old Americans assigned male at birth to register for military service.
The new application also makes it easier to input your federal tax information from the IRS. No more having to search frantically for those tax returns
How to share your thoughts
The Department of Education wants people to submit public comments on the current draft by May 23. You can submit your comments here.
More resources
Read Our Whole Guide To Going To College
Sponsored message
You come to LAist because you want independent reporting and trustworthy local information. Our newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our connected community. We are free to tell the full truth, to hold power to account without fear or favor, and to follow facts wherever they lead. Our only loyalty is to our audiences and our mission: to inform, engage, and strengthen our community.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive before year-end will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive before year-end will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Senior Vice President News, Editor in Chief
