Feds’ new financial aid form still in delay mode
With the new year comes a newly redesigned FAFSA, the document that flips the switch for student loan money and even scholarships to help pay for college.
But be prepared for delays when trying to access the form for the 2024-25 school year.
That’s because the Department of Education said the Free Application for Federal Student
Aid — as it’s formally called — will only be available “periodically” in the first few weeks of the year as part of a “soft launch” while it tests site performance and form functionality.
“We will have planned pauses for site maintenance and to make technical updates as needed to provide you with a better experience,” the department said in a Dec. 27 bulletin.
The FAFSA typically is released on Oct. 1, but the Education Department pushed back the launch by three months as part of a significant redesign and streamlining of the form, including fewer questions and easier data exchanges.
Despite the delay, the department said students and families should still have plenty of time to complete and submit the application.
Regardless of your family financial circumstances, anyone who plans to attend college or who is already enrolled should fill out the FAFSA as soon as possible. Money is handed out generally on a firstcome, first-serve basis.
Unfortunately many students fail to file the form because they think they won’t qualify for loans, workstudy funds, grants and scholarships. Big mistake.
If you do submit your forms during the soft launch, the Education Department said you’ll receive a confirmation email with preliminary eligibility information. Early filers will not need to refile once the FAFSA site is totally up and running.
The department said it will provide FAFSA eligibility information to your selected schools and states by late January. This will include estimated eligibility for federal Pell Grants, which currently provides students with up to $7,395 that doesn’t need to be repaid.
The department said about 610,000 new students from low-income households will be eligible for Pell Grants, thanks to changes in student aid calculations.
Until late January, states won’t be able to answer questions about aid eligibility and status. Many states have also changed their own aid processes for scholarships and loans for this year, so check on StudentAid.gov for updates.
What should you do right now? You will need a so-called FSA ID to submit the FAFSA. The department said each person who submits financial information for the FAFSA, including the student, and biological and adoptive parents, will need a unique username and password to log in and complete their portion of the form. For identification purposes, these family members are now called “contributors.”
The Education Department also urged filers to check FAFSA.gov for updates on the soft launch, along with Twitter, Facebook, Instagram and other social media sites.
In addition, the agency is emailing students who applied for money last year, reminding them to go through the process again for the new round of financial aid.