2024-25 FAFSA: What’s Changed and Key Deadlines for Students
By: Kim Myerson, Sr. Assistant Director, Financial Aid, Muhlenberg College Division of Graduate and Continuing Education Monday, April 29, 2024 10:00 AM
Whether you’re an adult student furthering your education or a high school student visiting colleges for the first time, you’ve likely heard about the new FAFSA® form. But what exactly is it, and how has it changed for 2024-2025?
Let’s examine what students need to know about the 2024-25 FAFSA form and how they can use it to apply for financial aid.
What is the 2024-25 FAFSA form?
The Free Application for Financial Student Aid (FAFSA) is a federal online application that allows students and families to apply for need-based financial aid. The data submitted using the form will determine eligibility for the Federal Pell Grant, student loans and the PHEAA PA State Grant.
The U.S. Department of Education (DOE) announced it would roll out an updated and simplified FAFSA form for 2024-25. Although the new FAFSA was released with some initial delays, the DOE has resolved the issues early users experienced.
Additionally, the new form reduces the number of questions applicants must answer from 108 to 46. Returning students who have completed the new application say it’s easier than the old version.
What do traditional day students need to know about the new FAFSA form?
Due to the delays in 2024-25 FAFSA availability and processing, we’ve outlined the steps traditional students should take to receive an estimated need-based aid offer if you’re admitted to Muhlenberg. Check out this webpage for all the details, including important deadlines.
What do adult students need to know about the new FAFSA form?
The Muhlenberg College School of Continuing Studies and School of Graduate Studies offers a rolling admissions schedule for adult students. That means we accept FAFSA forms all year long. However, there are a few critical deadlines to keep in mind:
- Students must complete or update their FAFSA form by May 1, 2024, for the PA State Grant.
- Students must complete or update their FAFSA form by Aug. 15, 2024, to be eligible for the PA Summer State Grant.
What’s new about the 2024-25 FAFSA form—and what’s still the same
In addition to featuring fewer questions, the 2024-25 FAFSA form is better targeted at collecting the specific data required to determine your eligibility for need-based aid. Two key changes:
Simplified data integration: The old form required students and family members to take several verification steps (such as creating a safe key) to transfer their federal tax return data into FAFSA. The new form makes it easier. You consent to direct data exchange with the IRS, and your tax information will automatically be loaded into the form.
Updated need-based calculations: If you filled out the old FAFSA form, you may be familiar with the term Expected Family Contribution (EFC), which was formerly used to estimate your need for financial aid. On the new form, EFC is replaced by the Student Aid Index (SAI), which is a more accurate calculation. Most importantly, the borrowing thresholds for the Federal Direct Subsidized and Unsubsidized loans remain the same as in the past.
You can get more information on the changes and nuances of the new form on this webpage.
What to expect when filling out the FAFSA application
Here’s the information you should have access to before you fill out the 2024-25 FAFSA form:
- Your Social Security number or alien ID number
- Your 2022 tax return
- Know your tax filing status in 2022 (single, married filing separately, married filing jointly, separated, etc.)
- Current bank statements
- Any documents verifying fund distribution from IRA or 401(k) accounts
- Information about any untaxed income, such as assets you may have liquidated
The new form will walk you through five sections:
- Personal circumstances: This is where you’ll enter information such as your marital status and grade level completed. You will be asked if you’ll earn your bachelor’s degree by July 1, 2024. Students who earn a bachelor’s by that date will not be eligible for Pell Grants or the PA State Grant.
- Student demographics: This section includes information on gender, ethnicity and citizenship. This is the only optional section; you can choose not to answer these questions.
- Financial information: This is where you’ll import your tax return information and answer questions about your income, retirement plans and other financial data.
- School choices. The form will ask you to choose the schools where you want to receive your FAFSA data. The old form allowed you to enter only ten schools, but you can enter up to 20 schools with the new form.
- Sign and submit. Dependents will then have to wait for their parents to fill out the form before it’s complete.
If you have any questions as you fill out the form, use the Frequently Asked Questions feature within the StudentAid.gov website. It offers direct and easy-to-understand guidance.
New options to help adult students pay for college
Financial aid options for adult students can be limited, especially for adults who have already earned college degrees. But adult students looking to continue their education at Muhlenberg College may access additional help to pay for college, including:
Scholarships: We’ve added to the number of scholarships available for adult students. Explore an updated list of scholarships from the School of Continuing Studies and the School of Graduate Studies.
Corporate affiliate discounts: We’ve partnered with some of the largest regional workforces in the Lehigh Valley to offer discounts on continuing and graduate education classes. See if your employer is on our list of corporate affiliate partners.
Military accommodations: Veterans and current military personnel may apply for additional grants and scholarships. The details are here.
Fill out your 2024-25 FAFSA form with confidence
I encourage every aspiring student to complete the FAFSA form, even if they think they won’t qualify for aid. The form is free. And you may be surprised with the results.
Are you interested in learning more about Muhlenberg College Division of Graduate and Continuing Education?
Attend an Information Session.
Set up an appointment with an advisor in Continuing Studies.
Set up an appointment with an advisor in Graduate Studies.