Financial Aid Office: Changes To FASFA Coming 2024

(Source: Unsplash)

The following is a excerpt from this week's student government meeting recap

Director of Financial Aid and Scholarships Nathan Fory spoke to student government this week about coming changes to FASFA (The Free Application for Student Financial Aid), a major source of UT-Tyler financial aid. He also askedthe association to help spread the word to students.

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Flory said The FAFSA, a major financial aid mechanism is undergoing a change starting 2024-25. The
reason for changes is to simply FAFSA process. 

Flory said the FAFSA application will go from 180 questions to roughly 40 with the focus on an online streamlined process. 

Coming changes are:

  • October 1 deadline postponed until sometime in December.
  • FASFA Applicants now have to connect to IRS Direct Data exchange instead of manually inputting tax return data. Flory said this change allows for simplification.
  • “Contributors” is a new term. Contributors includes step-parent, parent, spouse or student. These must provide financial aid information on FASFA application now, too.
  • The term EFC – Expected Family Contribution is going away. New term SAI – Student Aid Index will replace EFC and will now determine need.
  • How Pell Grant will be awarded will also change, according to Flory.

Lot of changes, he said. Financial Aid office will push information to students in coming months. 

What isn’t changing is the types of aid available.  Financial Aid and Scholarship and One-Stop Shop can take questions. Flory said SGA can help get the word out to students about coming changes.  

For more information about the coming FASFA changes and The FAFSA Simplification Act, see this Dear Colleague letter from The U.S. Department of Education or view this news report from USAToday.com. 

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