Important Current and Future Changes to the FAFSA®: What You Need to Know

The first and most important step in accessing financial aid for college is filling out the Free Application for Federal Student Aid (FAFSA®) form. The FAFSA® is used by both colleges and states in determining students’ eligibility for financial aid, scholarships, and grants. 

FAFSA® applications were made available starting October 1st. Some notable adjustments and omissions were made for the 2022-2023 FAFSA®. But for the 2023-2024 FAFSA®, students and families can expect some major changes—thanks in large part to The FAFSA® Simplification Act, which goes into effect on July 1, 2023. 

Read on to find out what changes students and families can expect from the 2022-2023 and the 2023-2024 FAFSA®. 

2022-2023 FAFSA® Changes

The majority of the 2022-2023 FAFSA® has remained unchanged, with a few significant exceptions. Most obviously, the application is much simpler. Here’s what applicants can expect:

  • There are now a maximum of 36 questions (down from 108 questions).

  • Male applicants are no longer required to register with the Selective Service System (SSS).

  • There are no longer consequences for answering “yes” to drug-related conviction questions.

  • Applicants are no longer required to answer whether they are “male” or “female.” Gender-related questions do appear in the demographic survey, however, applicants are allowed to decline the answers.

  • The FAFSA® can no longer be filled out using the myStudentAid mobile app. Applicants can access the FAFSA® on the now mobile-responsive Federal Student Aid website and also on their computers.

  • Pell Grant maximum has increased 2%, from $6,345 to $6,495.

2023-2024 FAFSA® Changes

Applicants and their families can anticipate some substantial and, for many applicants and families, crucial changes to the 2023-2024 FAFSA®. Thanks to The FAFSA® Simplification Act, the federal student aid eligibility process will be much more predictable and reliable—especially for low-income students. Here’s what applicants can look forward to:

  • The FSA has made several amendments to award rules and qualifications for the Pell Grant program. 

  • For example, students with an adjusted gross income (AGI) below certain levels are automatically eligible for maximum Pell grants.

  • The Expected Family Contribution (EFC) will no longer appear on the FAFSA®, but will be replaced with the Student Aid Index (SAI). 

    • The income threshold has been increased from (less than or equal to) $27,000 to $29,000.

    • The contribution minimum has been decreased from $0 to $-1,500.

  • Having siblings in college will no longer be a factor in calculating applicants’ financial aid eligibility as there will no longer be a decrease in Income Protection Allowance (IPA) for households with multiple college students.

Completing the FAFSA®

It is highly recommended for college-bound students to get a head start on filling out their FAFSA® applications—the sooner, the better. 

Note: All students must reapply each year in order to receive aid.

Instructions For Filling Out The FAFSA®:

  1. Create a FAFSA® account.

  2. Gather all supporting documents required for the FAFSA® application:

    1. Social Security number

    2. Parent(s)/Guardian(s) Social Security number(s)

    3. Driver’s license number

    4. Alien Registration number (if applicable)

    5. Federal tax information

    6. Records of untaxed income

    7. Records of investments and financial accounts

  3. Apply online here or fill out the FAFSA® PDF (must be printed and mailed).

For help and more information about the FAFSA®, go to FAFSA® Help or click on this link.

FAFSA® Deadlines:

  • 2022-2023 Academic Year: June 30, 2023

  • 2023-2024 Academic Year: June 30, 2024

Offering to help your clients with their FAFSA® is a major value-add to your business. It’s not only an additional selling point, but shows that your test-prep business is interested and invested in helping your students make the most out of their college application process. 

For more ideas on How to Generate & Close Leads, the Dos and Don’ts of Tutoring, be sure to follow our blog—we’re always sharing new ways to help take your test-prep business to the next level.

Matt McCorkleFAFSA®, College Applications, Test-Prep Advice