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2024-25 FAFSA

With the passing of the , the FAFSA process has been updated to expand eligibility and streamline processes with fewer questions. For those new and returning students who are anxious about what this means for them, SFS is here to help. So, let's get started!

WHAT'S NEW FOR 2024-25?

NEW TERMS

• FAFSA Submission Summary (FSS) replaces Student Aid Report (SAR).
• Student Aid Index (SAI) replaces Estimated Family Contribution (EFC).
• Direct Data Exchange (DDX) replaces Data Retrieval Tool (DRT).
• Contributor refers to anyone required to provide information on your FAFSA form. 

NEW PROCESSES

FSA ID StudentAid.gov Account Creation

• Every student applicant and contributor will need an FSA ID account before accessing and completing their section.
  • Students-when you fill out the FAFSA, you’ll answer questions that will determine who needs to be a contributor. 
  • Contributors could be your spouse, your biological or adoptive parent, and/or your parent’s spouse/partner.
  • Contributors without an SSN can create an FSA ID account to fill out their portion of your 2024–25 FAFSA.

♦ 

Invitations to Contributors

•  Student applicants will need to invite contributors to consent and/or complete their FAFSA section.
  • Students will be prompted to enter personal information about their contributors in order to send them an invite. We encourage students to notify contributors that they will be receiving an invitation.
  • Information required when inviting any contributor to complete the FAFSA includes the contributor's:
    • Legal name (from Social Security Card)
    • Date of birth
    • Social Security Number (SSN) if they have one.
    • Mailing address if they don't have an SSN.
    • Email address 

♦ Need an appointment with your SFS Advisor?

Contributor Consent & Approval

• Every student applicant & contributor must provide consent to use the IRS federal tax information (FTI) via Direct Data Exchange (DDX).
  • If consent is not provided, students will not be eligible for federal financial aid.
  • If consent is not provided within 45 days of invite, you will need to begin the FAFSA process again.

♦ 

DOCUMENTS YOU MIGHT NEED

• Your parents’ SSNs if you are a dependent student
• 2022 tax returns
• Records of child support received
• Current balances of cash, savings, and checking accounts
• Net worth of investments, businesses, and farm
  • Parent assets will now include net worth of all businesses and net worth of a family farm, if applicable.

FAFSA RESOURCES