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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]
The newly designed FAFSA – Free Application for Federal Student Aid – is now available online and must be filed for consideration for federal grants and student loans, as well as for many ...
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. ... 24/7 Help. For premium support please call
Changes to the 2024-25 FAFSA All major revisions outlined in the FAFSA Simplification Act will take place during the 2024-25 FAFSA cycle, which opened on Oct. 1, 2022, and ends June 30, 2025.
The maximum Federal Pell Grant for the 2023–24 award year (July 1, 2023, through June 30, 2024) is $7,395. [21] The maximum amount of the grant usually depends on the EFC and several other factors, including cost of attendance, the amount of time the student plans to attend college, whether it is a full academic year, and whether one is a ...
However, different types of financial aid have differing effects. Grant awards tend to have a stronger effect on enrollment rates. [72] Changes in tuition and financial aid affect poorer students more than they affect students with higher incomes. [72] In terms of race, changes in financial aid affect black students more than it affects white ...
College students and their parents still can — and should — apply soon for financial aid for the 2024-25 school year but they need to prepare to run into possible headaches.
The Free Application for Federal Student Aid (FAFSA) is a form completed by current and prospective college students (undergraduate and graduate) in the United States to determine their eligibility for student financial aid.
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