Better FAFSA Better Future - Information for Campus Partners

2024-25

BETTER FAFSA BETTER FUTURE

FAST FACTS

The FAFSA Simplification Act is intended to make the FAFSA easier for students and their families, but will come with many changes that may affect how units across campus operate and process FAFSA data. Please refer to this fact sheet for all the available information on the changes we anticipate as the FAFSA Simplification Act takes effect.

HOW WILL UC SAN DIEGO CAMPUS PARTNERS BE IMPACTED? • • • • •

Updates to consumer information that must be publicly available to applicants and families.

Requests for Financial Aid data may be delayed.

Financial Aid estimates for students may be delayed, including Athletics.

Campus units may need to make strategic decisions in response to the altered financial aid landscape Outreach material may need to be updated.

2024-25 FAFSA OPENING DATE December 2023

(instead of October 1)

IMPROVED APPLICATION PROCESS FOR FAMILIES

NEW! STUDENT AID INDEX New formula replacing EFC

Streamlined with fewer questions

Does the FAFSA Simplification Act make the FAFSA easier for students/families?

YES, benefits include: • • • •

A more streamlined application process.

Expanded eligibility for federal financial aid.

Reduced barriers for certain student populations.

A better user experience when completing the FAFSA form.

When will the 2024-25 FAFSA become available?

The 2024-25 FAFSA will become available December 2023, as opposed to the usual October 1 open date.

What changes can we expect to see in FAFSA data?

• •

Student Aid Index (SAI) will be replacing Expected Family Contribution (EFC) in the formula.

Changes to the formula will mean more Pell for some students.

What are the benefits of FAFSA Simplification for students, families, and borrowers?

• • • •

The FAFSA Simplification Act expands the Federal Pell Grant to more students and links eligibility to family size and the federal poverty level.

Some applicants will be able to determine Pell Grant eligibility prior to enrolling in college based on their family size, household income, and state’s poverty standards.

The new formula allows a minimum SAI of negative $1,500 to give financial aid administrators more insight when making determinations for students with especially challenging situations.

Less FAFSA questions and, in most cases, the FAFSA will pull federal tax information directly from the IRS.

Do these changes also affect the California Dream Act Application (CADAA)?

The California Student Aid Commission (CSAC) plans to mirror the updates on the 2024-25 California Dream Act Application. More information will be shared once it becomes available.

Updates will be posted as they become available:

What’s next?

The UC San Diego Financial Aid and Scholarships Office will soon start a communication campaign to ensure we are disseminating information to current and incoming students, as well as campus partners. These efforts will include emails, presentations, social media promotions, and web updates.

fas.ucsd.edu