Exciting 2024-2025 Student Aid Application Changes!

The 2024-2025 FAFSA & CASFA to be released by end of December 2023

What is the FAFSA Simplification Act?

Congress recently passed laws to simplify and streamline the completion of the Free Application for Federal Student Aid (FAFSA) to expand access to Federal Pell Grants. You can learn more about the FAFSA Simplification Act by visiting the Department of Education website.

What's Changing?

  • 2024-2025 FAFSA and CASFA release date:
    • Instead of opening in October, the 2024-2025 FAFSA will not be available until December 2023. This is only temporary for 2024. After the 2024-2025 aid year, the FAFSA will be available in October as usual.
  • Updates to terminology and information:
    • With the 2024-2025 FAFSA, Expected Family Contribution (EFC) will be replaced with Student Aid Index (SAI) ‒ this is a new need analysis formula that the Office of Financial Aid and Scholarships will use when awarding need-based grants and scholarships.
    • You’ll notice several new terms like contributor (anyone who is asked to provide information on the FAFSA, a parent or student spouse for example) and consent (each contributor will need to consent to their information being included on the FAFSA).
  • Streamlined application experience:
    • The FAFSA will feature fewer questions, fewer requirements, and retrieve tax information using a direct data exchange from the IRS instead of the previous IRS Data Retrieval Tool.
  • Expanding Pell Grant eligibility:
    • The adjustments to the new Student Aid Index (SAI) calculation will expand Federal Pell Grant eligibility to more students.

What Can You Do To Prepare Now?

  • Mark your calendars for December 2023 until an official date is announced.
  • Complete your FSA ID for student and parent (see video under “Helpful Resources”).
  • Check back often for updates! This is a significant change to the FAFSA and it is MSU Denver’s goal to keep you informed about upcoming changes.

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