The Free Application for Federal Student Aid (FAFSA) rolls around each year for American college students, and each year it seems to be a little different. All students who wish to apply for federal, state and institutional financial aid must apply.
This year, the process includes a new system that could make it easier for students to apply and provide more opportunity for aid, according to Senior Director of Financial Aid Melodie Jackson.
The most important piece of information Elizabethtown College students need to know throughout all financial aid processes is that there is help.
“Every student is assigned a dedicated financial aid counselor who can assist them through the financial aid process,” Jackson said.
To speak with their counselor, students should contact the Financial Aid Office, which is open from 8 a.m. to 4:30 p.m. on weekdays. They can set up a time to meet with a counselor, who can walk them through the process. The financial aid website also has a list of commonly asked questions for students to browse.
To file a FAFSA, students first need to collect or create their Federal Student Aid (FSA) identification. All students who have already filed a FAFSA in the past should already have an account and can visit studentaid.gov to log in or find their account information. Both students and parents need to fill out their FSA form, which includes their Social Security number.
The next step for students is to determine if parents or guardians are considered a contributor, and if so, which parent or guardian. A contributor is someone who is required to report their financial information to the FAFSA. The term “custodial parents” has also changed. They are now the parents who provided the most financial support instead of the parents with whom the student lived most during the past 12 months.
All FAFSA contributors, including the student, need to file federal tax information with the Internal Revenue Service (IRS). The system with which the FAFSA pulls the information has changed, though. The FAFSA can now pull tax information directly from the IRS, but the FAFSA contributors must first give consent for the transfer of data.
Expected family contribution used to factor greatly in the FAFSA but is now changed with the student aid index. The index is a new need analysis formula which will be used when awarding student aid.
Although these changes may seem overwhelming, Jackson said there will be fewer questions to answer and easier data transfer, which could simplify things for students. She also said the new methodology should result in more students applying for federal Pell Grants.
The FAFSA form is not yet available, which is a change from previous years when the application opened in early fall. Jackson said the form will be released in December. The specific date that it’s available has not been released, but Jackson said the Financial Aid office plans to keep students informed of the most recent developments. She recommends students check both the financial aid website and their email, which is the College’s official mode of communications, for updates.
It’s important that students fill out the FAFSA, even if they do not believe they’re eligible for federal aid because the form is also used for state and institutional awards. Since the process is streamlined, students should be able to fill it out with relative ease compared to previous years.
Returning students will be notified of their 2024-25 financial offer in May or June. Students can check their current financial status on the Financial Aid Student Aid Portal.
