FAFSA: Important Updates and Information for the 2024-25 Year
The Free Application for Federal Student Aid (FAFSA) for the 2024-25 aid year is changing and we’re here to help!
At Midland University, we understand that navigating your educational costs can be one of the most difficult pieces to your college decision.
One tool that can help you unlock financial aid resources is the FAFSA, and there are some important changes being made to the form through the FAFSA Simplification Act. These changes will make it easier for students, families, and supporters to complete and submit the FAFSA form, and it will help expand access to federal and state student aid.
Our team is here to help you with all financial aid resources, including the FAFSA, and can assist you with any questions you may have.
What is Changing with the FAFSA?
New Open Date
In the past, the FAFSA has become available on October 1st of each year. The 2024-25 FAFSA will be available by the end of December 2023.
Expected Family Contribution (EFC) is changing to Student Aid Index (SAI)
The SAI is a number that determines each student’s eligibility for certain types of federal student aid and will be used for awarding need-based grants, loans, and other aid types.
Streamlined Application Process
In addition to an easier application process with fewer questions, there is also a new Direct Data Exchange (DDX) secure system that makes it easier to transfer Federal Tax Information (FTI) directly from the Internal Revenue Service (IRS).
Increased Pell Grant Eligibility
Nationwide, over 500,000 more students are estimated to be eligible for Federal Pell Grant support.
What is NOT Changing with the FAFSA?
- The FAFSA is still the best tool to unlock additional resources that are available to you, including federal, state, and institutional aid.
- Students still complete the FAFSA on an annual basis.
- Degree-seeking students will be eligible for federal student loans if they complete the FAFSA and are not in default on previous student loans.
- Early completion is still valuable since some aid is awarded on a first-come, first-serve basis. Early FAFSA applications receive priority consideration for limited funds.
- Questions introduced in 2023-24 about the applicant’s sex, race, and ethnicity have no effect on federal student aid eligibility. These questions are only used for statistical purposes.
- Questions about dependency status that determine whether your parents complete the FAFSA with you remain the same.
- The FAFSA asks for tax information from the prior-prior year.
How Do I Prepare for the FAFSA Changes?
Create Your FSA ID Today
Students completing the FAFSA for the first time and all those contributing to a student’s FAFSA can create their FSA ID before the application becomes available in December.
Save the Date
Mark your calendar for December 2023 and check this page for updates once the official date that you can complete the FAFSA is announced.
Apply to Midland
Once you are accepted to Midland and Midland has received your completed FAFSA, our team can get to work on your official scholarship offer! Complete our simple and free application for admission now to begin that process!
Estimate My Federal Student Aid
This federal tool was created to provide your family with qualifying aid estimates. This is not a Midland tool, and would not factor in any scholarships earned at Midland University.Estimate Aid
Learn More About the FAFSA Simplification Act
Visit the FAFSA Simplification Act page from the Federal Student Aid Office of the U.S. Department of Education to learn more about the FAFSA changes.Learn More About the FAFSA Simplication Act
For questions about the FAFSA or other Financial Aid resources, please contact us at firstname.lastname@example.org or 402-941–6520.