FAFSA Updates

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FAFSA Updates

The 2024-25 FAFSA process is going to look different than in the past. The Office of Financial Aid is here to help and keep you informed on the updates.

What's changing? 

The 2024-25 FAFSA is now open. The U.S. Department of Education will make changes to the FAFSA on an as- needed basis, which could result in pauses or other interruptions when completing the application.

Students and families will see a different measure of their ability to pay for college with the Student Aid Index (SAI). The SAI and Federal Pell Grant eligibility guidelines will be used to determine your financial aid award.
The number of household members in college will be collected but not included in the Student Aid Index (SAI) calculation. There will be three different ways to calculate the Federal Pell Grant. Poverty Guidelines and SAI will be used to determine Federal Pell Grant eligibility for undergraduate students.

The FAFSA Simplification Act will give more students access to the Federal Pell Grant and will link eligibility to family size and the federal poverty level.

Contributor: A contributor refers to anyone who is required to provide information on a student’s FAFSA form. This can include the student, the student’s spouse, a parent or the parent’s spouse. Each contributor will need to have their own unique FSA ID. Being a contributor does not imply responsibility for the student's college costs, but they will need to provide personal and financial information on their section of the FAFSA. Parent and spouse contributors will need to fill out the 2024-25 FAFSA separately from the student. 

Consent: All contributors to a student’s FAFSA must provide consent to have their tax data transferred directly from the IRS to the FAFSA. If consent is not provided by all parties, the student will not be eligible for federal financial aid. 

FAFSA Submission Summary: The Student Aid Report (SAR) will now be referred to as the FAFSA Submission Summary. This is the summary submission document you receive after completing the FAFSA.

The FAFSA will feature fewer questions, fewer requirements and easier access to your tax information from the IRS. Students will also see enhanced guidance throughout the application process.

Anyone who is listing tax information on the 2024-25 FAFSA is required to give the U.S. Department of Education consent to use their tax information. A student will be ineligible for financial aid if consent to use tax information is not given.

 

What Hasn't Changed?

  • Students must still complete a FAFSA every award year to be considered for federal financial aid and Rhodes State scholarships.
  • If you and/or a parent have already created a FSA ID, you can continue to use it.
  • Prior year tax information is still requested. For the new 2024-2025 FAFSA, you will report your 2022 income and assets. Families with significant reductions in income will still be able to submit a Special Circumstance Appeal with the Financial Aid Office.

How to Complete the FAFSA:

  • Create an FSA ID with Federal Student Aid (FSA) and also help your contributors, such as your parent(s) or spouse, create an FSA ID.
  • If you already have an FSA ID, log in to your StudentAid.gov account to ensure your information is up to date — especially your email address. This will help FSA connect with you when the FAFSA launch date is announced.
  • Use the Federal Student Aid Estimator to determine your 2024-2025 eligibility for federal student aid and SAI.
Need Help or have questions regarding the new updates to the FAFSA? Contact financial aid at finaid@rhodesstate.edu or 419-995-8802.