DO YOU KNOW ABOUT FAFSA?
It's a centralized form that is designed to assist students in seeking financial aid from both state and federal government. This form provides a consistent process to assess eligibility, making it easier for students to apply for aid.
- To be eligible for any need-based financial aid, including grants, work-study, and student loans, all colleges, and universities require the completion of the FAFSA.
- We suggest that families still complete the FAFSA application even if they believe they may not be eligible for need-based financial aid.
- Many institutions and scholarship programs may ask for the completion of the FAFSA to be considered for institutional grants. It is important to note that the FAFSA for the 2024-2025 academic year will use tax information from the year 2022.
ABOUT THE FAFSA DELAY
- Last year, a bipartisan bill was passed by Congress to simplify and shorten the FAFSA application.
- As a result, 1.7 million more students became eligible for the maximum award, and 555,000 students were newly qualified for financial aid.
- Additionally, the Department of Education was tasked with streamlining and reducing the number of questions asked in aid applications.
NEW FAFSA RELEASE
The release date for FAFSA has changed. Previously, it was released on October 1st, but the Department of Education has revealed that for the 2024-2025 academic year, it will be released in December 2023.
HOW DOES THIS AFFECT PARENTS & STUDENTS
IMPORTANT: Parents cannot file the FAFSA on October 1st of this year for the 2024/2025 academic year.
Stay informed about FAFSA delays by signing up for email updates from the RISLA College Planning Center.