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The Free Application for Federal Student Aid, better known as the FAFSA, has long been due for an update. On December 30, a new version of the form was released – a culmination of changes ...
The problem emerged after a congressional mandate in 2020 to simplify the FAFSA form. The department estimates that with the new fix, students will have access to an additional $1.8 billion in ...
There are a number of free calculators on the Web to help applicants estimate the EFC before filing the FAFSA. Recipients of need-based financial aid must reapply for each year by completing a new FAFSA. The term and concept of Expected Family Contribution was replaced by the term Student Aid Index (SAI) in 2024. [2]
Once parents have submitted the FAFSA online, they’re given an SAI (Student Aid Index) letting them know exactly what the federal government thinks they can afford to contribute for the upcoming ...
The new FAFSA will replace the Expected Family Contribution with a different formula called the Student Aid Index that will help determine the amount that each student can receive in financial aid.
The FAFSA update is slated to add an additional $1.8 billion in need-based student aid, but colleges and universities won’t receive the new information until March, according to the DOE.
The Consolidated Appropriations Act, 2021 shortened the FAFSA from 108 questions to 36, to encourage more eligible students to fill out the form. [24] In addition, students now have the option to link their IRS account with their FAFSA account to make the application simpler to complete accurately. Students must now report the value of their ...
The Free Application for Federal Student Aid (FAFSA) must be submitted for each year of enrollment. One form covers both semesters of the school year with payments issued every quarter or semester.