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2024-2025 FAFSA Simplification
As a result of the FAFSA Simplification Act, Federal Student Aid is updating the FAFSA process to expand access to federal student aid and provide an easier, streamlined FAFSA experience for students and families.
Key Changes
- The FAFSA became available in December 2023 instead of October 1. The FAFSA will be streamlined and more user-friendly with fewer questions.
- The Student Aid Index (SAI) will replace the Expected Family Contribution (EFC).
- Federal aid eligibility will be extended to more students.
- IRS Direct Data Exchange (DDX) makes entering tax information easier and will be required for students, spouses, and parents to transfer their 2022 tax information or non-filing status.
- Some of the information required on the FAFSA has changed. The number of family members in college will no longer factor into the FAFSA calculation. Untaxed items such as payments to tax-deferred retirement or pension plans, veteran’s non-educational benefits, and worker’s compensation will no longer be required. Parent assets will now include net worth of all businesses and net worth of a family farm, if applicable.
- For divorced or separated parents: The parent who provided the most financial support to the student will need to provide their information. Previously, the parent who the student lived with the most provided their information.
- Everyone contributing to the FAFSA form must have their own FSA ID. Each contributor, including the parent(s), will access their account with their own FSA ID.
Terms to Know
- Student Aid Index (SAI): Calculated by FAFSA data and will determine student aid eligibility. This replaces the Expected Family Contribution (EFC) that was used in previous years.
- Cost of Attendance (COA): COA includes tuition and fees, food and housing, books and supplies (including course materials and equipment), miscellaneous expenses, and transportation.
- Contributor: A parent, step-parent, student, or spouse of the student who is providing information to the FAFSA.
- Consent: Required from all contributors in order for the IRS to share tax data directly to the FAFSA. If any contributor does not provide consent, the student will automatically be ineligible for aid.
- Direct Data Exchange (DDX): Previously known as IRS Data Retrieval; this tool imports tax data directly from the IRS to your FAFSA.
- FAFSA Submission Summary (FSS): A summary of your completed FAFSA information. This replaces the Student Aid Report (SAR) that was used in previous years.
2024-2025 FAFSA Processing Notice
The timeline for processing the 2024-2025 FAFSA applications has been affected by all of the changes brought on by FAFSA Simplification. The Department of Education delayed the timeline for providing colleges and universities across the country with the processed FAFSA information for students. As a result, it has delayed HGTC’s processes in awarding financial aid. The estimated timeline for 2024-2025 FAFSA applicants is as follows, but is subject to change because of technical difficulties:
Early July - HGTC will begin processing FAFSA data for student applicants
Mid July - HGTC will notify students regarding additional information requests to complete the financial aid application. Please monitor your school email and your financial aid card in your MyHGTC student portal
Late July - Early August - HGTC will begin sending out financial aid awards letters. Students will be able to finalize awards, request student loans, etc. in their MyHGTC student portal.
We want to emphasize that while the timeline for receiving information has been delayed, the resulting aid eligibility should not change due to these delays. The Financial Aid Office is working diligently to ensure eligible students receive their financial aid packages in time for the start of the academic year.
FAQ
A contributor is anyone who is asked to provide information on an applicant’s FAFSA including:
- The student
- The student’s spouse (if applicable)
- A biological or adoptive parent; or
- The spouse of a remarried parent who is on the FAFSA–the stepparent
The new FAFSA is student-driven, so that means the student’s answers in their section will determine who will be a contributor (in addition to the student). Students will need the contributor’s name, date of birth, Social Security Number (SSN), and email address to invite them to complete the required portion of the FAFSA. Contributors will need to provide personal and financial information on their section of the FAFSA.
All contributors are required to have an FSA ID and to provide consent to have their Federal Tax Information (FTI) transferred from the IRS, have their tax data used to determine a student’s eligibility for federal student aid, and allow the U.S. Department of Education (ED) to share their tax information with institutions and state higher education agencies for the administration of Title IV aid. Consent is provided once for the award year and cannot be revoked in that award year. This consent is necessary even if the contributor does not have an SSN, did not file taxes, or filed taxes in another country.
If a dependent student’s parents are unmarried and living together, both parents will be contributors, will need to have separate FSA IDs, and need to provide consent. Dependent students whose parents filed their U.S. income tax return as Married Filing Jointly only require one parent contributor to complete the FAFSA. If the student’s parents filed separately, both parents will be considered contributors and therefore need separate FSA IDs, and both must provide consent.
If an independent student is married and filed separately, both individuals are contributors, must have FSA IDs, and must provide consent for the student to be eligible for Title IV aid.