FAFSA 2024 – 25 & Beyond

FAFSA -2024 -25 - Alert

FAFSA 2024-25 will see many dramatic changes.

If you’ve been following the news or watching our YouTube channel, you know that the implementation of the FAFSA Simplification Act is underway.

As previously discussed, many of the changes in the legislation are steps in the right direction to make college less of a financial burden (notice we didn’t say affordable) on students and their families.

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FAFSA – What’s New?

FAFSA - What's New?

What’s New with the FAFSA?

Unless you can fully fund your child’s college education, no matter where you are on the college savings spectrum, changes are coming to the FAFSA that may upset your plans.

The FAFSA Simplification Act introduced many changes to the application and the program. Positive adjustments were made, e.g., a reduction in the number of questions and a slight increase in Pell grants. Pell grant eligibility also expanded.

KEY CHANGES

  • Reduction in the number of questions to less than 50
  • Maximum Pell Grant increased by $400
  • Expected Family Contribution (EFC) changed to Student Aid Index (SAI)
  • Subsidized Usage Limit Applies (SULA) repealed
  • Multi-Student “discount eliminated
  • Divorced/Separated Parents see a change in who files FAFSA
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Categories: Financial Aid

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