2024-2025 FAFSA Updates

The Department of Education ushered in big changes to the 2024-2025 FAFSA intending to simplify the application process and update aid eligibility calculations. With the FAFSA simplification rewrite and unexpected changes to timeframes, the aid awarding process has been substantially delayed for schools across the country.

The original predicted date for schools to receive FAFSAs was late January, however, on January 30, 2024 the Department of Education announced there would be further delays to fix the inflation adjustment. The new expected time frame for schools to receive FASFAs is mid-March.

The Department of Education has been working tirelessly to ensure the new successfully improves the user experience for all users, and remains committed to provide helpful tools and information for students and parents on StudentAid.gov.

The 2024-2025 FAFSA form is now available. The Department of Education may initiate pauses for site maintenance and to make technical updates as needed to provide you with a better experience.

ou will need the following to complete the 2024-2025 FAFSA Form:

  • An FSA ID (account username and password)
  • Your Social Security Number or A-Number (if you are not a U.S. citizen)
  • Federal income tax returns, records of child support received; and your current balance of cash, savings and checking accounts (Note: You must provide consent and approval to disclose your federal tax information to be eligible for federal student aid.
  • Bank statements and records of investments (if applicable), net worth of investments, businesses, and farms.
  • Records of untaxed income (if applicable)

Visit StudentAid.gov to create an FSA ID.

If you don’t know your FSA ID you can retrieve your username or reset you password.

If your FSA ID is locked, you’ll need to use your verified mobile phone number, email address, or challenge questions to unlock it as there is a 30-minute wait using your challenge questions.  Step by step instructions are available on the FSA website.

After all sections of the online FAFSA are completed and submitted, you will receive a confirmation email noting the submission date of your FAFSA, the estimated Student Aid Index (SAI),  and estimated Federal Pell Grant eligibility.  However, you will not receive a FAFSA Submission Summary from the U.S. Department of Education until the first half of March.  Federal Student Aid will send an email when your FAFSA Submission Summary is available to review on StudentAid.gov.

Due to major processing delays, you won’t be able to make changes to your submitted FAFSA changes to the 2024-2025 until mid-March, at the soonest.

Two congressional acts, the FAFSA Simplification and FUTURE Acts simplify and shorten the FAFSA, make it easier to transfer financial information to the application, update the underlying formulas, and change some naming conventions.

  • The number of family members in college no longer matters.
  • The net worth of small businesses and/or farms, for those who town such entities, must now be reported.
  • A student’s housing intentions are no longer asked.
  • The Student Aid Index (SAI) replaces the Expected Family Contribution (EFC).
  • The FAFSA Submission Summary replaces the Student Aid Report (SAR).

Both are index numbers used to determine the types of aid and how much aid a student tis eligible to receive.  Due to the EFC’s name, it was often confused as the amount they would have to pay out-of-pocket to attend college.  The name change to SAI should help clear up some of the confusion.  There are also changes in how the number will be calculated.

Due to FAFSA delays, PennWest’s anticipated time for new student financial aid offers to be sent out to students is April.

Your estimated financial aid offer will be sent to both the student’s personal email that we have on file and your PennWest email account. The email will come from financialaid@pennwest.edu and will have a link for you to click on to view your offer.

Each state has its own deadline. Visit the FAFSA State Deadlines site to see your state’s deadline.

PennWest’s scholarship application is currently available in your myPennWest portal.  Once you are signed in, select the “Manage PennWest Scholarships” tile.  Once redirected, click “Start Application.”  Select the application for incoming freshmen students, and only complete the sections that pertain to you and your major.

Due to FAFSA delays, PennWest’s anticipated time for current students’ tentative financial aid package to be available is April with priority given to students registered for summer.  Once spring grades are posted in May and financial aid satisfactory academic progress (SAP) is reviewed, packages will be updated.

When your financial aid offer is available, a notification will be sent to your PennWest email account instructing you to access your award in your “Financial Aid Self-Service” portal.

Each state has its own deadline.  Visit the FAFSA State Deadlines site to see your state’s deadline.

PennWest’s scholarship application is currently available in your myPennWest portal.  Once you are signed in, select the “Manage PennWest Scholarships” tile.  Once redirected, click “Start Application.”  Select the application for current students, and only complete the sections that pertain to you and your major.

Due to FAFSA delays, PennWest’s anticipated time for current graduate students’ tentative financial aid package to be available is April with priority given to students registered for summer.  Once spring grades are posted in May and financial aid satisfactory academic progress (SAP) is reviewed, packages will be updated.

When your financial aid offer is available, a notification will be sent to your PennWest email account instructing you to access your award in your “Financial Aid Self-Service” portal.  

Because graduate students are primarily eligible for non-need-based loans and university scholarships, you are unlikely to see changes in aid eligibility. 

To be eligible to receive federal unsubsidized loans, graduate students must be enrolled at least half-time, which is 4.5 credits for PennWest.

PennWest’s scholarship application is currently available in your myPennWest portal.  Once you are signed in, select the “Manage PennWest Scholarships” tile.  Once redirected, click “Start Application.”  Select the application for current students, and only complete the sections that pertain to you and your major.

 

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