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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.
The FAFSA Deadline Act in 2024 made the October availability date part of the law. [8] The 2016–2017 academic year was the final time the FAFSA was not made available until January 1. [7] Two-year old US tax information is used to complete the financial sections of the FAFSA beginning with the 2017–2018 academic year.
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 FAFSA Simplification Act called on ED to enact changes to the 2023-24 FAFSA. But the Biden administration quickly asked to delay implementation to the 2024-25 academic year.
A law passed in 2023 requires students graduating this year to submit a Free Application for Federal Student Aid, or FAFSA, form. ... The best books of 2024, according to Goodreads. See all deals.
For example, the 2024-25 FAFSA is based on 2022 income and tax information, not 2023 income and tax information. The form is expected to take around an hour on average for applicants to complete ...
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 FAFSA is a relatively easy form to fill out, as it lets parents link to their previously filed tax returns to answer the financial questions. It has now been streamlined to just 36 questions ...