In this blog post, we provide an overview of the changes financial aid offices face while processing financial aid for the 2024-2025 award year and tools that can help your institution. Below is a brief list of changes.
- A new FAFSA form
- New need analysis calculations
- A new way of obtaining tax data from the IRS for those who qualify
- Delayed availability of the form, processing, and delivery of ISIRs
- A myriad of system glitches
If you, your team, and your students are totally stressed out, it’s no wonder – there have been so many challenges given the number and breadth of the changes made to the financial aid process this year. We’re convinced that the pain we’re feeling today will be worth it because once the kinks are worked out, the process will be easier for students and their families, the data will be more secure, and institutions will be able to get back to normal. Until then, we want to share some invaluable resources that you should be using to navigate the rough waters of this year’s processing season.
The 2024-2025 FAFSA Update Page
This page in the FSA Knowledge Center contains a number of updates – from new technical issues discovered to upcoming webinars. Bookmark it today!
You can link to this page from the Update page above. It lists all the technical issues discovered to date, the timeframe for resolution, if available, and workarounds to use until a fix is in place. Equally important is the list of resolved issues so you know when you no longer need to employ the workarounds.
We often recommend taking advantage of these training resources. Visit the page dedicated to FAFSA Simplification. There you will find links to recorded webinars and upcoming events. Of particular interest is the series of FAFSA Q&A webinars where participants can have questions answered live during the session. If you missed or can’t fit the live sessions into your schedule, they are being recorded so there’s a good chance others have asked some of the same questions you have.
2024-25 Student Aid Index (SAI) and Pell Grant Eligibility Guide
This guide, formerly known as the EFC Formula Guide, has always been an important resource for the Financial Aid Office. There have been several edits and updates since the guide was initially published, so we recommend checking it regularly throughout the awarding process.
FAFSA College Support Strategy
If you missed it, FSA is offering technical assistance, additional personnel, and/or funding to institutions to get through this award season. If you haven’t already taken some time to determine what resources your office could use to ensure a successful award and enrollment season, do so now. Then check out FSA’s offerings to find out if your institution can take advantage of this program.
Higher Education Assistance Group
If you’re still feeling overwhelmed, email us at info@heag.us and let us know how we can help your office through this difficult time.
Sources: