Changes to the 2024–25 FAFSA
What You Need to Know
At the University of Puget Sound, we understand that financial aid is a crucial part your educational journey. We want to keep you informed about important updates to the Free Application for Federal Student Aid (FAFSA) for the 2024–25 academic year.
What's Changing?
In 2020, Congress passed the FAFSA Simplification Act, which makes substantial changes to how federal student aid works. The changes being implemented this year include an overhaul of the FAFSA application itself, new processes for determining who is eligible for aid, and updated procedures for colleges like Puget Sound that participate in federal student aid programs.
The FAFSA will be available in December 2023
Unlike previous years, when the FAFSA application opened Oct. 1, this year’s form will not be available until December 2023. This is a one-time change for this year’s application. The exact date has not yet been announced.
New For the 2024–25 FAFSA
Here are the biggest changes you’ll notice when you fill out this year’s application:
- Simpler and User-Friendly: The FAFSA is getting shorter and easier to complete. Students will only have to answer 46 questions instead of 108.
- Multilingual Access: The FAFSA will be available in 11 languages.
- Streamlined Data Entry: For most families, you'll need to use the IRS Direct Data Exchange, automatically transferring data from your tax filing to the FAFSA.
- More Pell Grant Awards: Some students will automatically qualify for the maximum Pell Grant, including families making less than 175% of the federal poverty level and single parents making less than 225%.
- Expanded Choices: You can now list up to 20 colleges on your FAFSA application.
- Changed Parent Responsibilities: In cases of divorce or separation, only the parent(s) who provided the most financial support to the student will need to submit financial information.
- New Terminology: The Student Aid Index (SAI) will replace Expected Family Contribution (EFC), providing a clearer picture of your financial aid eligibility. SAI will no longer take into account the number of students a family has in college to determine eligibility for aid. Another new term is contributor. A contributor is anyone who is required to provide information on a student’s form.
- Reporting Assets: Family farms and small businesses should be reported as assets.
What Isn't Changing
A lot is changing this year, but don’t worry! Some things remain constant:
- Institutional Aid: Need-based aid offered by Puget Sound is determined by our Student Financial Services office and is based on your FAFSA application and demonstrated financial need.
- Types of Aid: You can still access the same types of aid, and federal student loan limits are not changing.
- Annual FAFSA Application: You'll still need to complete the FAFSA every year to be considered for federal and state financial aid.
- Tax Information and Dependency: The FAFSA will still use income and assets from the prior-prior year, giving you financial clarity and questions determining which parent(s) must provide financial information have not changed.
- Demographic Information: Questions on the form about gender, race, and ethnicity do not impact your eligibility for federal aid. This information is not shared with colleges.
When Should I Complete My FAFSA?
If you are starting at Puget Sound in Fall 2024, you should complete your FAFSA as soon as it's available in December. We will update this page with the launch date as soon as it is announced. Returning undergraduate students should submit their FAFSA no later than March 15, 2024.
Financial Aid Timeline
| Admission/ Student Type |
Admission Deadline | FAFSA Priority Deadline | Financial Aid Offer |
|---|---|---|---|
| Early Decision | Nov. 1 | Jan. 15 | Early/Mid February |
| Early Action | Nov. 1 | Jan. 15 | Early/Mid February |
| Regular Decision | Jan. 15 | Jan. 15 | Early/Mid-March |
| Returning Undergraduates | N/A | Mar. 15 | Early June |
We're here to help make your education at the University of Puget Sound accessible and affordable. The changes to the FAFSA are designed to simplify the process of applying for federal student aid. If you have any questions or need assistance, our team is here for you every step of the way. Your future is bright, and we're excited to be a part of it!