2024-2025 FAFSA UPDATES

Legislation passed in 2020 was aimed at simplifying the application process and will bring about several changes in calculating aid eligibility beginning with the 2024-25 academic year.

• Less Questions: The FAFSA will only ask 46 questions
• Tax/Income Data: Beginning with 2024-25, all persons listing tax information on the FAFSA will be required to use the IRS Direct Data Exchange (DDX) to share tax information or confirm non-filing status.
• Student Aid Index (SAI): The FAFSA previously calculated an Estimated Family Contribution (EFC). Now the FAFSA will produce the Student Aid Index (SAI). This number, unlike the EFC, can be negative with the minimum SAI being -1500.
• No benefit for having siblings in college: The FAFSA previously divided the EFC proportionally based on the number of the household in college. The elimination of this "sibling discount" will be the biggest change in aid eligibility for some students
• Automatic Pell Grants based on income and household size: Families making less than 175% and single parents making less than 225% of the federal poverty level will see their students receive a maximum Federal Pell Grant award. Minimum Pell Grants will be guaranteed to students from households below 275%, 325%, 350%, or 400% of the poverty level, depending on household structure. 
• Larger Income Protection Allowances: The Income Protection Allowance (IPA) covers a family's basic living expenses and is excluded from SAI formulas. New, larger IPAs lower the amount of student or parent income considered to be available to pay for college. IPAs will increase by 20% for parents, up to about $2400 (35%) for most students, and up to about $6500 (60%) for students who are single parents.
• Inclusion of family farms or small businesses: When required, families will now report the value of their farms or businesses. 

• Complete your FAFSA ASAP: 

  It is important for families to complete the 2024-25 FAFSA as soon as possible once it is available in December 2023.

  New undergraduate students for 2024-25 should continue to prioritize their TAMU-CC admission application completion by February 1^st for scholarship consideration.

• The delay of the FAFSA availability until December does slightly shorten the window for applying for aid, and TAMU-CC will work to begin student awarding for new students with a FAFSA on file as soon as systems are ready