2024-25 FAFSA Updates

Based on the most recent information from the Department of Education, Schoolcraft anticipates that we will start processing FAFSAs and awarding students in April.  Updates will continue to be posted here.

For the 2024-25 academic Year, the Free Application for Federal Student Aid (FAFSA) has gone through significant changes.  The FAFSA itself has been streamlined to make the process of applying for Federal Aid more user-friendly and efficient for students and their families. These changes include decreasing the number of questions on the FAFSA from 108 to 46 and allowing students to list up to twenty schools on their FAFSA, as well as updates to terminology.

Some of the terminology changes are as follows:

• SAI replaces EFC and will consider various factors beyond income and assets: It aims to provide a more nuanced understanding of a student’s financial need.
• A contributor is any individual required to provide consent and approval for FTI and signature on the FAFSA. A contributor includes the student, the independent student’s spouse, or the dependent student’s biological or adoptive parents, or stepparent.
• FAFSA Submission Summary is a paper or electronic output document sent to students as a result of the FPS receiving a FAFSA for the student. The FPS computes the official SAI and performs various checks and federal agency matches to confirm certain aspects of the student’s eligibility for Title IV funds. The results of the matches and the SAI computation are conveyed on this output document.

More definitions for the new FAFSA terminology can be found in the 2024-25 Financial Aid Glossary.