The release of the 2024-2025 FAFSA was delayed until December 2023 due to major changes to the application and federal aid formula. These changes are mandated by federal law through the FAFSA Simplification Act.
The changes streamline the FAFSA application, a reduction in questions for most students and an overall better user experience when completing the application. In addition, the revised FAFSA reduces barriers for some student populations and may increase federal aid eligibility for some students.
Among the major change that you will see on the 2024-25 FAFSA are:
• Students and parents will need to log into the FAFSA separately to complete their respective sections.
• For students of divorced/separated parents, the parent whose information should be reported on the FAFSA may not be the same parent reported on the 2023-2024 FAFSA.The parent who provided greater than 50% of your support is the parent whose information is now reported. This is not necessarily the parent with whom the student lives.
- Refer to the FAFSA instructions for additional information.
• Federal Tax Information (FTI) import is required and will simplify the experience of providing FTI.
• Reduced number of questions
• Number in college will no longer be factored into the calculation
• The net worth of all businesses and farms must reported.
- Small businesses and farms with fewer than 100 employees that are owned and controlled by the family must now be claimed.
• Child support received by a parent is now reported in the asset section.
•Begin determining which parent’s information is to be reported on the application.
•Each person reporting information on the FAFSA, must have an FSA ID. FSA IDs can be requested at studentaid.gov.
•Make sure each person (contributor) whose information will be reported on the FAFSA has filed their 2022 federal tax return, if required.
Because there is a new federal aid formula, there needs to be a new measure of determining the family’s ability to pay for college. Because of this, the Student Aid Index (SAI) will replace the EFC (Estimated Family Contribution).
Prior to submitting the FAFSA, you can complete the Federal Aid Estimator at studentaid.gov/aid-estimator. This will provide an estimate of your federal aid only.
Wagner has adjusted our priority deadlines for the 2024-25 academic year.
Prospective students – February 1, 2024
Current students – February 15, 2024
Please note: if you have not yet filed your FAFSA, it is not too late to do so!
The parent who provides most of your financial support in the last 12 months. Please see https://studentaid.gov/sites/default/files/is-my-parent-a-contributor.jpg
The US Department of Education has announced that schools will begin receiving FAFSA information in March 2024.
For additional guidance and answers to questions about completing your 2024-25 FAFSA, please review Federal Student Aid's YouTube videos.
For FAFSA issue alerts, please see the US Department of Education webpage.