This year, the FAFSA process looks a little different...
As we gear up for another academic year, exciting changes are on the horizon for students and families navigating the financial aid landscape. The Free Application for Federal Student Aid (FAFSA) has undergone a significant transformation, promising a more user-friendly experience for applicants. In this blog post, we’ll explore the key updates to the FAFSA, important dates to remember, a few tips to ensure a smooth application process, and a variety of other helpful resources for you!
Key FAFSA Updates:
The FAFSA has long been a crucial tool for students seeking financial assistance for their higher education journey. However, feedback from users highlighted the need for a more straightforward and accessible application process. In response, the Department of Education has revamped the FAFSA, streamlining the form to make it more user-friendly for applicants. Below, you’ll find 3 key updates:
1. Reduced Number of Questions
The new FAFSA features a trimmed-down questionnaire, reducing the number of questions and eliminating unnecessary complexities.
2. An Enhanced User Interface
A modernized and intuitive interface has been introduced to guide users through the application. Clear instructions and user-friendly prompts aim to eliminate confusion and increase the efficiency of the application process.
3. Simplified Tax Data Transfer
Transferring tax information is easier than ever! Instead of locating your tax return and manually inputting information, tax information will be transferred to the FAFSA with one click.
While those are the most impactful changes, please be aware of several smaller nuances of the FAFSA process, including:
- Individuals filing the FAFSA are now referred to as “Contributors.”
- Each contributor is responsible for completing only their portion of the FAFSA.
- All contributors must sign the FAFSA within 45 days of the initial application for proper submission.
Important Dates to Remember:
As a result of these changes, the 2024–2025 FAFSA timeline looks different this year. Traditionally, the FAFSA opens in October. This year, however, it will not be available until December. With that in mind, we have provided an example timeline of what to expect with the new availability date. We encourage you to mark your calendars with the following key dates to ensure you don’t miss out on crucial opportunities:
|December 31, 2023||The FAFSA Launches|
|January 1, 2024||You Complete the FAFSA|
|End of January 2024||Cairn Receives your FAFSA|
|Early February 2024||You Receive an Offer of Aid|
Application Opening Date: The FAFSA for the upcoming academic year will be available starting December 31. Be aware that website traffic may be high around the first few days of the application opening.
Deadlines: The Department of Education has explained that institutions will begin receiving the applications beginning in late January. Offers of Aid can be sent shortly after applications begin being accepted and received.
Verification Period: Be prepared for a potential verification process after submitting your FAFSA, where the Department of Education may identify information that should be verified. If verification is required for you, Cairn will notify you and explain next steps.
Tips for a Smooth Application Process:
Other Helpful Resources:
- Cairn Scholarship Estimator is a great way to get a more accurate approximation of what your aid could look like for Cairn. Our admission staff will review your submission and contact you shortly to discuss your aid.
- The Student Aid Index (SAI) is the new calculation for determining student financial need. The SAI estimator assesses the Federal funding a student can receive.
Be aware: This estimator was released in September, but otherwise, the new SAI calculations have not been made available to Financial Aid Administrators or to the public. We would advise anyone using this to take caution as SAI, PELL grant, loan, and Federal work study amounts generated likely do not reflect accurate numbers, especially given the fact that the FAFSA release date continues to be pushed back.
The FAFSA Prototype allows you to pre-experience the new FAFSA by launching the FAFSA prototype using password: prototype2425. This tutorial demonstrates the simplified aspects but does not include accurate calculations.
Be aware: The prototype is only a simulation of the FAFSA, and the actual FAFSA is subject to change. The prototype functions only for understanding how the data may be collected. If you would like to look at a representation of what the FAFSA may look and feel like, this is the experience for you; if you are interested in knowing more specific details about how the FAFSA will impact your financial needs, please continue to wait for the release on December 31.