More FAFSA Updates

The updated FAFSA form for students attending college in Fall 2024 is now live, although

this is during a “soft launch” period where the website may intermittently be down for

updates.

If families submit the form during this time, their information will be saved and provided

to colleges in late January. If the new FAFSA is unavailable when families try to access it,

the Department of Education advises families to try again later and says previously

submitted information will be securely stored and not need to be re-entered.

Once the form is completed, families will receive an email confirmation along with their

estimated Student Aid Index (SAI) and eligibility for federal Pell Grants. The SAI is the new

term for what was formerly known as the Expected Family Contribution (EFC).

According to the FAFSA website, the Department of Education will email families when

their FAFSA information has been sent to the colleges and when they can access their

FAFSA Submission Summary on StudentAid.gov. The FAFSA Submission Summary provides

the official SAI calculation and federal Pell Grant eligibility.

The new FAFSA typically goes live on Oct. 1 each year, so it remains to be seen what

impact this delayed launch will have on financial aid awards from colleges and the

traditional May 1 decision date. Additionally, the new FAFSA has a calculation error that

will result in families qualifying for less aid than lawmakers intended. Read more about

this error here FAFSA error means less financial aid for families (roccollegeplanning.com)

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