Students have big plans and big dreams for their postsecondary journey. Many students dream about going to college. Others plan on starting a business or joining a trade. But a dream is not enough. College and career plans don't just happen; students have to work to make it a reality. And completing the Free Application for Federal Student Aide (FAFSA) is an important first step.
Did you know that all students are required to complete the FAFSA? Here is some important information about the FAFSA.
The 2024-2025 FAFSA is Changing
As a part of the FAFSA Simplification Act, the 2024–2025 federal process for requesting financial assistance will be changing.
Here’s what we know now:
The FAFSA is opening in December 2023 instead of October, the original opening date.
Up to 20 different colleges can be listed on the online FAFSA and have information sent to them (in prior years, only ten colleges could be listed).
Due to a change in the methodology used to determine aid, a Student Aid Index (SAI) – rather than an Expected Family Contribution (EFC) – is used to measure your (and, if applicable, your family's) ability to pay for college.
The new need analysis formula no longer factors the number of family members attending college into the calculation.
Separate criteria to determine eligibility for the Federal Pell Grant Program, linking eligibility to family size and the federal poverty level, make program funds available to more students.
Revisions to several of the processes and systems used to award federal student aid are required, including a new interface to directly receive federal tax information from the Internal Revenue Service (IRS) – this change is made possible by the Fostering Undergraduate Talent by Unlocking Resources for Education Act (FUTURE Act).
What can you do now to prepare?
Sign-up for a Federal Student Assistance (FSA) ID
How to sign-up for an FSA ID
Watch this video:
https://www.youtube.com/watch?v=iTb7hMVtzco
Sign-up for an FSA ID here:
https://studentaid.gov/fsa-id/create-account/launch
If you have an FSA ID and need assistance to access it, watch this video:
https://www.youtube.com/watch?v=lIwnEbOXSGg&t=13s
2.Determine if you are eligible for the Illinois Monetary Award Program (MAP)
The Alternative Application for Illinois Financial Aid allows qualifying undocumented students who are not otherwise eligible for federal financial aid to apply for Illinois Monetary Award Program (MAP) grants to attend eligible Illinois colleges, universities, and career education programs. The pre-screening questions in this application will help determine whether or not the student is a qualifying undocumented student eligible for federal financial aid.
https://studentportal.isac.org/en/alternativeapp
Our schools are prepared to support students through college and career exploration and planning to make an informed postsecondary choice. Students can reach out to their counselor for more information.
