FAFSA Simplification

The 2024-2025 FAFSA is now available to complete here, FAFSA® Application | Federal Student Aid.

Impact of FAFSA Simplification

In December of 2020, Congress passed the FAFSA Simplification Act to streamline the FAFSA application process for students and families seeking financial aid. This legislation, among other significant key changes, will reduce the number of questions that students see when completing the FAFSA, will attempt to make the questions asked clearer, and will aim to increase Federal Pell Grant eligibility. While there may be instances where the FAFSA simplification increases certain students' eligibility for financial aid, other students may see a reduction in aid. The following list of significant changes in the FAFSA may impact how applications are processed and how financial aid offers are made to students.

When will the changes happen?

FAFSA simplification changes will begin with the 2024–2025 FAFSA application period. Due to the changes, the 2024–2025 FAFSA will not be available on the traditional October 1 date. The anticipated launch date of the 2024–25 FAFSA will be by December 31, 2023. Schools will be able to receive aid eligibility information which includes the Institutional Student Information Records (ISIRs) by the end of January 2024. Subsequently, paper forms will follow. During this time, students will have the opportunity to make necessary corrections and updates to FAFSA while institutions will be able to make corrections in the weeks following. Direct links to specific state applications, as well as the option for unpaid preparers to fill out the FAFSA form on behalf of students will commence with the 2025-2026 FAFSA. To complete the FAFSA application (when available), please click here.

What are the changes?

  • There will be fewer questions when completing the 2024–2025 FAFSA and an easier way to transfer tax information directly from the IRS.

  • The FAFSA Simplification Act aims to increase the number of students eligible for Federal Pell Grants and links eligibility to family size and the federal poverty level.

  • The term "EFC" (expected family contribution) is changing and will be replaced with the Student Aid Index (SAI). This is a new need analysis formula that Stevens will use when awarding federal and institutional need-based aid.

  • SAI will no longer take the number of students in college into consideration. This may reduce need-based aid eligibility for current students with siblings in college.  

  • For students, whose parents are separated or divorced, the guidance on which parent income to report has changed to the parent who provides the most financial support to the student, rather than the parent who lives at the student’s primary residence.

  • Parents without a Social Security Number will be able to apply for a Federal Student Aid ID. This will speed up FAFSA processing time as they will be able to submit the form online, rather than having to print, sign, and mail their application.

  • Students who qualify for a dependency override due to homelessness or not being able to access their parents’ financials no longer need to recertify their dependency status each year unless their situation changes. 

  • Male students under the age of 26 are no longer required to register with the Selective Service System to receive federal financial aid. 

  • There may be new terms like contributor (anyone who is asked to provide information on the FAFSA, such as a parent or student’s spouse) and consent (each contributor will need to consent to their information being included on the FAFSA).

  • Once the FAFSA form is complete, students will receive a confirmation email including their estimated Student Aid Index and Pell Grant eligibility.

View additional information about the FAFSA Simplification Act.

The Department of Education has begun sending FAFSA information to institutions. We are committed to assisting families during this transition and will work closely with anyone experiencing difficulties to ensure you are awarded all the aid you are eligible to receive. We encourage you to review the guidance below. The FAFSA deadline for our continuing population is May 15.

FAFSA KNOWN UNRESOLVED ISSUES – this link will direct you to the Department of Education’s website where they show known unresolved and resolved issues. If you are having technical difficulty, we suggest that you review this page periodically.

Updates on Timelines for Corrections and Reprocessing and What it Means for Partners | Knowledge Center- this link provides a timeline for student corrections. The Department of Education anticipates students to be able to make corrections on their 24-25 by the week of April 15th. Students should typically be able to review their updated FAFSA Submission Summary, within 1 to 3 days of the applicant’s submission of a correction. The Department of Education is currently targeting to reprocess records affected by tax issues and will begin sending them to schools by May 1.

How to Submit a 2024-2025 FAFSA Form

The following webinar hosted by FSA representatives offers guidance on completing and submitting the 2024-2025 FAFSA form. It can be watched on the FSAOutreach channel on YouTube here.

How to Correct or Update your FAFSA Form

On the FAFSA form, most of the questions ask about your current situation at the time you sign the application. There may be times when you need to update or modify the information you provided. It's important to stay up-to-date and accurate with your responses. If you wish to seek guidance on how to update your FAFSA form, please visit How To Correct or Update Your FAFSA® Form | Federal Student Aid.

Parents Without Social Security Numbers

Please see the following guidance if your parent does not have a social security number and you are having difficulty completing the 24-25 FAFSA here. An updated version of the guidance can be found here.

Stevens Institute of Technology remains committed to making your future education affordable for you and your family. The Office of Financial Aid is here to support you if you have any questions regarding the FAFSA Simplification Act and the new FAFSA application. Our office can be reached by phone at 201-268-5406 or via email at [email protected].

Please feel free to visit our How to Apply for Aid website for additional information.