PGCC Financial Aid Updates

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The FAFSA will be shorter and more user friendly.

The FAFSA will reduce the maximum number of questions from 108 to 46. And because the FAFSA on the Web is dynamic, some students won’t be presented with all 46 questions. This streamlined format will simplify the application process and make it less complicated for students and families.

 

Students may list up to 20 colleges.

Previously, the FAFSA only allowed students to list up to 10 colleges and universities.

The FAFSA will be available in more languages.

Currently, the FAFSA is only available in English and Spanish. The 2024-2025 application will be expanded to include the 11 most common languages spoken by English learner students and their parents.

Applicants will be required to use the IRS Direct Data Exchange.

Previously, users had the option to enter their tax information manually or use the IRS Data Retrieval Tool. Beginning with 2024-2025, all persons on the FAFSA will be required to use the IRS Data Exchange to share tax information or confirm non-filing status. This change makes it easier to complete the FAFSA and reduces the number of questions to be answered.

All contributors must provide financial information.

A contributor refers to anyone who is required to provide information on the student’s form (such as a parent/step-parent or spouse). A student’s or parent’s answers on the FAFSA will determine which contributors (if any) will be required to provide information.

Contributors will receive an email informing them that they have been identified as such, and will need to log in using their own FSA ID (if they don’t already have one) and will be required to provide the required information on the student’s FAFSA.

Being a contributor does not mean they are financially responsible for the student’s education costs, but it does mean the contributor must provide information on the FAFSA or the application will be incomplete and the student will not be eligible for federal student aid.

The Student Aid Index (SAI) is replacing Expected Family Contribution (EFC).

The name more accurately describes the number used to determine aid eligibility and, unlike EFC, the SAI may be a negative number down to -1500.

The number of household college students will not be used to calculate the SAI.

Previously, the FAFSA calculated the number of household members attending college into the EFC, dividing it proportionately to determine federal aid eligibility. Beginning with the 2024-2025 FAFSA, the application will still ask how many household members are in college, but your answer will not be calculated into the SAI. As such, students with siblings in college may see a change in their federal aid eligibility.

Students may be awarded a Federal Pell Grant.

Families making less than 175% and single parents making less than 225% of the federal poverty level (link to website) will see their students receive a maximum Federal Pell Grant award. Minimum Pell Grants will be guaranteed to students from households below 275%, 325%, 350% or 400% of the poverty level, depending on household structure. Pell Grant awards between the maximum and minimum amounts will be determined by the SAI.

The parent responsible for submitting the FAFSA in situations involving divorce or separation has changed.

For dependent students, financial information was previously needed from the parent(s) the student lived with the most in the last 12 months. With the new FAFSA, financial information will be required from the parent(s) who provided the most financial support to the student.

Assets related to family farms and small businesses are required to be included in the reporting process.

When required, families must now report the value of their small business or family farm. If the family farm includes the principal place of residence, applicants should determine the total net value of all farm assets and subtract the net value of their principle residence to determine the final value of their farm assets.