New FAFSA On The Horizon

The newest version of the Free Application For Federal Student Aid, or FAFSA, will be available online starting on October 1st.

The new changes, some which won’t come into effect for several years include:

• A shorter form FAFSA application form

• Expanded Pell Grant eligibility

• Expected family contribution is renamed The Student Aid Index

• Lifetime Federal direct subsidized loan limits eliminated

• Unemployment during a national emergency can change eligibility

Otherwise much of the form will remain the same until the 2023-2024 school year. For more details check here.

For tips on how to create a FAFSA ID number and begin the process of filling out the applications, check here.

Don’t forget … even if the family income is high, a student should fill out the FAFSA because the formula used for determining financial aid takes much more than just the family income into consideration. The Estimated Family Contribution, or EFC, again calculated on much more than purely income, will directly impact the amount of aid a student will receive. But, with tuition costs have gone up so much, more and more families could be eligible to financial aid. So don’t assume anything, fill out the FAFSA t today!!!