Bad News for Families with Multiple College Students

Multiple College Students - FAFSA

This is directed to families with multiple college students still enrolled in 2024-25.

The preliminary case studies from the National Association of Financial Aid Administrators for the new Student Aid Index (SAI) formula are out. This is the final phase of the implementation of the FAFSA Simplification Act of 2021.

Eliminating the multi-student discount is about to become a reality for thousands of families in the United States with college-age children.

The impact on these families is not good. Some would deem it devastating.

2024-25 FAFSA Changes

BONUS: For background information and in-depth understanding of the new FAFSA,  after reading the full blog post, view our “How Will the Changes to FAFSA Impact You?” on our Education Unpacked YouTube Channel. College financial expert, Robert Falcon founder of College Funding Solutions provides details and guidance for parents/students.

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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  • Subsidized Usage Limit Applies (SULA) repealed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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