2024-25 FAFSA Changes

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 How the FAFSA Simplification Act Affects You

 

Big changes are coming to the Free Application for Federal Student Aid (FAFSA) application for the 2024-2025 aid year!

The FAFSA Simplification Act was passed by Congress in 2020 and represents a significant overhaul of the processes and systems used to award federal student aid. This includes the Free Application for Federal Student Aid (FAFSA) form, the need analysis that determines federal aid eligibility, changes in terminology, and many policies and procedures for schools that participate in federal student aid programs.

 

2024-2025 FAFSA Available in December 2023
Historically, the FAFSA has been available beginning October 1st each year. However, because of significant changes to the application and the rebuild of the FAFSA processing system, the 2024-25 FAFSA will not be available until sometime in December 2023. Updates on an exact date will be posted here when announced.

 

What's changing with the FAFSA?

 

There are a number of benefits of the FAFSA simplification act, including a more streamlined application process and a better user experience for the FAFSA, expanded eligibility for federal student aid, and reduced barriers for certain student populations (e.g., homeless and unaccompanied youth, incarcerated students, English language learners, and students from low-income backgrounds).

Some fundamental changes include, but are not limited to:

What isn't changing?

While the FAFSA is receiving an update and the aid eligibility calculation has been revised, there are a number of aid-related matters that will not change.

  • The general types of aid available to Morrison Tech students and federal student loan limits will not change.
  • The FAFSA will still be required for consideration of federal and state financial aid every year.
  • Dependency status questions that determine if your parent(s) must complete the FAFSA will remain the same.
  • The FAFSA will still request tax information from the prior-prior year, which means you'll report 2022 income and assets on your 2024-25 application.
  • The questions regarding an applicant's gender, race, and ethnicity will have no effect on federal student aid eligibility and are included for statistical purposes and data collection only. In fact, Morrison Tech will not even receive this data from the FAFSA.

When should I submit the 2024-25 FAFSA?

New and returning students who plan to attend classes at Morrison Tech in the fall of 2024 should complete the FAFSA as soon as it becomes available in December.

 

Morrison Tech's Office of Financial Aid is dedicated to providing timely updates to students, families, and our community. Due to the significant amount of changes that are occurring, portions of our website may not yet be 100% accurate for the 2024-2025 academic year. We'll continue to update this page as we receive more information from the Department of Education and Federal Student Aid, and appreciate your patience as we work to implement the changes brought by the FAFSA Simplification Act.

Federal Student Aid Estimator

This Is Not the Free Application for Federal Student Aid (FAFSA®) Form

Use this tool to see how much federal student aid you may be eligible for in the 2024–25 award year. Note: This tool estimates the Student Aid Index (SAI) for the 2024–25 award year, not the Expected Family Contribution (EFC) for the 2023–24 award year.

Special Circumstance

Because certain situations and events can affect a family's ability to pay for college, it is important that you inform the Financial Aid Office of unusual financial circumstances that you believe are not reflected accurately on the Free Application for Federal Student Aid (FAFSA).

Unusual circumstances refer to the conditions that justify an aid Administrator making an adjustment to a students dependency status based on a unique situation, commonly referred to as a dependency override.  Some examples include, but are not limited to:

  • Parental Abandonment
  • Incarceration
  • Refugee or Asylee Status; or
  • Human Trafficking