By: James A. Hernandez, Director of Financial Aid
Have you heard about the new simplified FAFSA application? Applying for financial aid will look different for the upcoming school year. This article is intended to share some basic points regarding the new FAFSA, its process, and changes that will impact you and your family.
For this year only, the new FAFSA rollout date was moved to Dec. 31, 2023.
Dependent students’ parents/step-parents and spouses (for married students) are now referred to as contributors. It will be required that ALL contributors give consent to pull income information from the IRS, even when tax returns were not filed. Students email their FAFSA contributors, at which time contributors will be required to give consent. Each contributor is required to provide their own information on the student’s FAFSA.
Independent, married students will email their spouse, who is required to give consent, and enter their income and personal information on the students FAFSA.
Existing FSA and passwords will still work. It will be crucial that students and parents know their FSA and password! If a student or contributor does not already have these items, an FSA ID and password will need to be created (this includes both parents in a two-parent household). Students and contributors will not be able to complete the FAFSA without the FSA ID and password. Three to five days will be required to process a new FSA ID and password prior to use on the FAFSA. This measure is in place to protect and confirm identities.
The formula for determining financial aid eligibility is also changing! The former EFC, (expected family contribution) will now be called the SAI (student aid index). This SAI number will be calculated differently from the EFC, and the numeric value will have the potential to go negative with this new methodology.
The SAI number will have different Pell eligibility implications than the EFC. Once you complete the 2024-2025 FAFSA, the financial aid office will receive the information from the federal government sometime later in the winter semester.
As a result of these updates, the college’s software and Financial Aid procedures are experiencing significant changes. We anticipate students and parents will have concerns or questions with regards to delays in award offer communications and financial aid decisions. Please be aware that this situation is continuing to evolve with these changes. The college will provide further information as it becomes available.
One of the best things that students can do is be proactive and complete the FAFSA early in the winter. That way, there is ample time to have questions and circumstances addressed. It is also crucial that students stay on top of their Delta College email as they will be receiving communications from the Financial Aid Office that pertain to this process.
We want to encourage students and parents to approach news and social media surrounding this topic with caution. These sources may provide speculative information and opinions that can quickly spread as fact and cause undue stress and worry. If you are unsure of something, please reach out to us to confirm the facts.
Please know that the Financial Aid Office is here to help you navigate this and maximize your financial resources. We appreciate your patience as the new financial aid year unfolds. We will be offering a number of workshops on campus and at the downtown centers to help with the completion of your FAFSA.
Call, email or stop into the Financial Aid Office with your questions. Have a great start to your Winter 2024 semester!
