Updates to the FAFSA Have Delayed College Financial Aid for Millions
The Free Application for Federal Student Aid (FAFSA) has undergone some major updates for the 2024-2025 application cycle. Unfortunately, many families and students are wondering exactly where the FAFSA is. Traditionally, the FAFSA is released in October and is the cornerstone for students’ financial aid packages and offers from their dream colleges. Because of the revisions, the application has been delayed – which means the entire financial aid process is being delayed for millions of students and schools everywhere. So, the question remains: when will the FAFSA become available?
FAFSA Release for the 2024-2025
As of this moment, the Education Department has announced that FAFSA will be released by December 31st. While I wish we had more details, that’s the best we have at our current time. As a reminder, schools cannot access applications until 30 days after the FAFSA opens – so that means colleges won’t be able to review applications until the end of January 2024. Schools understand that without financial aid packages, students cannot make decisions about which school to attend – or if they can even afford to go to college. Financial aid offices will be working incredibly hard to complete their side of this equation for all of the students. Please give the financial aid staff members grace and patience, as no one really knows what to expect with this application cycle.
When is the FAFSA due?
While the application typically opens in October (and by December 31st this year), the application is actually due until June 2024. However, aid is often distributed on a first-come, first-serve basis so if you know your student will need aid to attend college, submit the application as soon as you can. Remember to check your college’s deadlines as well as deadlines for state or federal funding you might be considering, as those may be different.
While we wait for the FAFSA to open up, review our tips on how to prepare for your application and what to do if you receive any verification requests. This year, more than ever before, it’s important to fill out your application quickly and correctly the first time. The new updates were completed to streamline the FAFSA, which should also help this cycle!
More about Jodi and College Financial Aid Advisors
Jodi helps with the financial aid process, from completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.
Still Want More Help?
Get more information on financial aid in my book, Secrets of a Financial Aid Pro – it makes a great holiday gift! You’ll find information on everything including admissions deadlines, financial planning, filling out the FAFSA, award letters, searching for scholarships, and comparing student loan options. Order it now, and get the information you need to successfully navigate the financial aid journey.