The Free Application for Student Aid (FAFSA) will be available in October for the 2023-2024 academic year.
There are significant revisions to discuss, including some that were passed in a bill during the month of December of the previous year. In certain instances, there are significant changes that you must be aware of and essential information that you must record.
FAFSA Changes in 2023-2024
The 2023-2024 FAFSA application will be available on October 1, 2023. However, there is a deadline for the reward year of financial aid, which is June 30, 2024. However, we do not recommend putting it off for too long.
There are numerous institutions and states with much earlier deadlines for financial aid packages.
In December of 2012, Congress passed a package that included emergency pandemic relief and significant policy changes for higher education. There are several modifications that take effect on July 1, 2023. Nonetheless, some are already reflected on the forthcoming FAFSA.
Changes that include a substantial reduction from 108 to 36 queries on the application questionnaire. The Student Aid Index (SAI) is being supplanted by the Expected Family Contribution (EFC), which will make it much easier for students and their families to comprehend their award letters. Regarding Pell Grants, additional eligibility information will be provided in advance for students who wish to verify.
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What Do You Need?
Pell Grants will be available to incarcerated individuals with drug-related convictions and men who have not yet enrolled for Selective Service. There are no longer any questions regarding Selective Service and drug conviction eligibility.
Individuals in foster care or who are destitute will have an easier time applying. In addition, the myStudent Aid application was discontinued at the end of June 2022. Overall, the FAFSA has been completely redesigned, and it is now considered more user-friendly.
To submit an FAFSA application, you will need your Social Security number or, if you are not a US citizen, your Alien Registration number. You require the federal income tax returns of your parents. Include any untaxed income records, your FSA ID, investment records, and bank statements.
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