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But making a mistake on the FAFSA or submitting the application late can result in processing delays or limit the amount of aid awarded to a student, according to the National Association of ...
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.
FAFSA is how students apply for financial aid, like the Pell Grant and federal student loans. The FAFSA form is normally available in October, but due to major overhauls to the application process ...
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Then it is subtracted the student's Expected Family Contribution, based on the student's income and assets, and calculated by the U.S. Department of Education under rules set by Congress and processed using the FAFSA system. For unmarried students under 24, Congress mandates that parental income and assets be included.
The new FAFSA form is shorter and easier to fill out — but delays in its availability are creating stress for those who depend on financial aid. FAFSA delays cause stress for students and ...
However, financial aid experts say implementing the fix to the Free Application for Federal Student Aid, or FAFSA, now could lead to delays in the students' receiving financial aid offers.