When Does Fafsa Open 2024

 

When Does Fafsa Open 2024? scheduled for release on December 31, 2023, for the 2024-25 academic year, represents a departure from the usual October 1 release date. It's worth noting that the submission deadline for the 2023-24 FAFSA remains open until June 30, 2024. To be eligible for financial aid, including grants, scholarships, federal work-study, and federal student loans, it is crucial to submit the Free Application for Federal Student Aid (FAFSA) each school year. However, it's essential to be aware of the varying deadlines for federal, state, and institutional aid. Typically, the FAFSA opens on October 1 and closes on June 30. This year, the open date is scheduled for December 2023.

FAFSA open date and deadline

Academic Year	FAFSA Open Date	Federal FAFSA Deadline
2023-24	Oct. 1, 2022	June 30, 2024
2024-25	Dec. 2023	June 30, 2025 (tentatively)

Here is what we know about the soft launch

During the soft launch, the FAFSA form will be intermittently available as Federal Student Aid monitors site performance, conducts planned pauses for maintenance, and implements updates to enhance the user experience for students and families. If applicants submit their form during the soft launch, their information will be saved, eliminating the need for resubmission. In case the form is unavailable during an attempt to access it, users are advised to try again later.

Applicants might encounter a waiting room feature designed to regulate website traffic for optimal form performance. If site maintenance is initiated while a student or contributor is in the process of completing an application, they will be allowed to continue until the form is finished. In the event that a student completes their FAFSA form but a contributor cannot access the site during an unavailable period, the contributor can return to complete their section once the site becomes accessible again.

What documents are needed to fill out the FAFSA?

Once they set up a StudentAid.gov account, students might need the following information or documents as they fill out the 2024–25 FAFSA form:

1. Their parents’ SSNs if they’re a dependent student

2. Tax returns for 2022

3. Records of child support received

4. Current balances of cash, savings, and checking accounts

5. Net worth of investments, businesses, and farm

What happens after students submit the FAFSA?

Upon submitting their completed 2024–25 FAFSA form, students will receive a confirmation email acknowledging the receipt of the form. The email will include preliminary information regarding their eligibility for federal student aid, incorporating their estimated Student Aid Index (SAI) (formerly the estimated family contribution) and the estimated eligibility for Federal Pell Grants.

In late January, Federal Student Aid will convey the FAFSA eligibility information to the college(s) and state. Once the college(s) receive this information, they will furnish the student with personalized aid details. Federal Student Aid will notify students via email when their FAFSA information has been transmitted to their chosen schools and when they can access their FAFSA Submission Summary on StudentAid.gov. The FAFSA Submission Summary will present their official SAI calculation and Federal Pell Grant eligibility.

Students can monitor the status of their FAFSA form on StudentAid.gov in late January.

Given the late rollout of FAFSA, what are the deadlines for student aid?

The completion of the FAFSA form is crucial for students as it enables them to be eligible for federal student aid. Moreover, states and colleges rely on FAFSA information to allocate their own grants, scholarships, and loans.

For North Carolina students seeking state aid, it's essential to note the priority consideration deadlines. The deadline for UNC System colleges is June 1, 2024, while the deadline for community colleges is Aug. 15, 2024. Although these are the stipulated deadlines, it's important to recognize that awards are granted until all funds are exhausted. Hence, applying early is of paramount importance.

What’s new with FAFSA?

The 2024–25 FAFSA form brings about significant improvements, expanding eligibility for federal student aid, particularly Pell Grants, and enhancing the overall user experience. With updates to student aid calculations, 610,000 new students from low-income backgrounds will now qualify for Federal Pell Grants. Additionally, applicants will benefit from a more streamlined process, allowing them to skip up to 26 questions based on their individual circumstances. In some cases, applicants may only need to answer as few as 18 questions, reducing the time commitment to less than 10 minutes.