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Parents who don’t have a social security number will be able to create an FSA ID and participate in their student’s FAFSA, which wasn’t previously possible. Students will be allowed to ...
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 federal financial aid form looks different in the 2024-25 school year. Here's what college students and parents need to know about the new FAFSA.
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]
Parental income and assets are required with your FAFSA if you are a dependent student. Some schools may offer a dependency override that rules out any income from parents when you meet certain terms.
In addition, the department is rolling out a streamlined process for submitting the Free Application for Federal Student Aid or FAFSA for applicants or their parents who don’t have a Social ...
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