The U.S. FAFSA Simplification Act represents a significant overhaul to the processes and systems used to apply for and offer financial aid.
**Caution! Our information is limited, but we will continue to update this page as more details become available. The details included on this page are what we can currently confirm. Check back regularly for updates!**
Complete the 2024-25 FAFSA
The 2024-25 FAFSA® is available and we’re continuing to see the success rate of submissions improve!
It appears that students and their contributors are now able to make corrections; the most common need for correction we see are students or their contributors missing their signature on the FAFSA®.
We’ve begun reaching out, mostly via email, to all students based on the FAFSA® information we’ve received to offer added support and request verification documents.
UW–Madison will not have a FAFSA® Priority Date for 2024-25.
Impacts & Benefits
The FAFSA® is getting a makeover with the hopes of making it even easier for students and their families to submit.
Not only will there be fewer questions on the FAFSA® to answer, and fewer requirements overall, your tax information will be retrieved through a direct data exchange with the IRS.
The U.S. Department of Education (ED) also estimates we should see in increase to the number of students eligible to receive the Federal Pell Grant.
Federal Student Aid’s Pro Tips for the 2024-25 FAFSA®.
Financial Aid Offers
We’ve started to send financial aid offers to all undergraduate students and will continue to do so as we have complete and accurate FAFSAs®!
Graduate and professional students should have their financial aid offers before the end of May.
Running into issues with the 2024-25 FAFSA®? Please take screenshots of what you’re seeing or where you are getting stuck and attach them when you email us your questions(s).
FSA ID
Beginning with the 2024-25 FAFSA®, all users/contributors must have an FSA ID and password to fill out the FAFSA®, even those without a Social Security Number (SSN).
Processing your FSA ID can take up to 5 business days, so we recommend creating it at least a week before you start your FAFSA®.
This is an accordion element with a series of buttons that open and close related content panels.
What is an FSA ID?
An FSA ID is a username and password that you must use to log in to certain U.S. Department of Education (ED) websites. Your FSA ID identifies you as someone who has the right to access your own personal information on ED websites such as the Free Application for Federal Student Aid (FAFSA®).
Who needs an FSA ID?
Beginning with the 2024-25 FAFSA®, all contributors (student, student’s spouse, and/or parent) must have their own FSA ID.
How do you get an FSA ID?
To create your FSA ID, please go to https://studentaid.gov/fsa-id/create-account/launch.
What if I don't remember my FSA ID or am not sure if I have one?
To retrieve a forgotten FSA ID or password, please go to https://studentaid.gov/fsa-id/sign-in/landing and click either the “Forgot my Username” or “Forgot my Password” links.
When should I create my FSA ID?
Now!
In general, because it can take up to 5 business days, we recommend creating it at least a week before you start your FAFSA®.
What’s Changing?
This is an accordion element with a series of buttons that open and close related content panels.
Contributors
A contributor refers to anyone who is required to provide information on a student’s FAFSA®, including the student, the student’s spouse, a biological or adopted parent, or the parent’s spouse. Being a contributor does not imply responsibility for the student’s college costs.
- You, the student, will need the contributor’s name, date of birth, Social Security Number (SSN), and email address to invite them to complete the required portion of your FAFSA®.
- Contributors will need to provide personal and financial information on their section of your FAFSA®. They will only be able to see and complete their own specific sections of your FAFSA®.
- All Contributors must provide consent to have their federal tax information (FTI) transferred directly from the IRS to the FAFSA®. If consent is not provided by all parties, you will not be eligible for federal financial aid. In previous years, transferring IRS data was optional; moving forward, it’s required.
Which Parent to Use in Divorced/Separated Situations
If your parents are divorced or separated, the contributing parent(s) is the parent (and their spouse, if remarried) who provided the greater portion of your financial support during the 12 months immediately prior to filing the FAFSA®.
It no longer will default to the parent you primarily lived with during the past 12 months.
Family Size and Number in College
The number of people in your family size will be automatically pulled in from your Federal Tax Information (FTI).
The number of family members in college will still be asked on the FAFSA®, but it will be excluded from the federal, state, and institutional financial aid calculation.
Assets
Child Support Received
The annual amount of child support received (i.e. in the last complete calendar year) should be included in the assets you report.
Small Business and Farm Assets
The net worth of any small business and/or farm must be included on the FAFSA®. Remember, net worth = asset value minus asset debt.
Education Savings Accounts (i.e. 529 Plans)
For dependent students, these accounts will only be counted as a parental asset if the account is designated for the student.
Terminology
EFC > SAI
The final figure calculated by the FAFSA® will no longer be called the Expected Family Contribution (EFC). Rather, it will be called the Student Aid Index (SAI) to more accurately describe how that number is used to determine financial aid eligibility. And, instead of a scale of 0 to 999,999, the SAI could be a negative number and the new scale is from -1,500 to 999,999.
Student Aid Report (SAR) > FAFSA® Submission Summary
Similarly, the Student Aid Report (SAR) which is the confirmation of what’s been submitted will now be referred to as the FAFSA® Submission Summary.
Veteran
To align with the Veterans Administration (VA) definition, a veteran is “a person who served in the active military, naval, air, or space service, and who was discharged or released therefrom under conditions other than dishonorable.”
Unusual Circumstances
Otherwise dependent students who indicate that they have unusual circumstances that prevent them from providing parent data will no longer receive a rejected FASFA but will instead have their application processed with provisional independent status, a provisional SAI, and an estimate of federal student aid eligibility.
However, if you’re a student in this situation, you must still follow up with our office to make final determinations.
What’s Not Changing?
This is an accordion element with a series of buttons that open and close related content panels.
Basic Eligibility
The FAFSA® will continue to be made available on an annual basis for federal financial aid consideration and students must meet the eligibility requirements.
It is the only application UW–Madison uses for consideration of all sources of financial aid including federal, state, and institutional financial aid.
Dependency Status
The requirement that determines whether or not you, the student, are required to provide parent information on your FAFSA® will remain the same. The FAFSA® includes a series of questions and you must be able to answer ‘Yes’ to at least one question to be considered Independent for financial aid purposes. Read more»
Net Price Calculator
Our Net Price Calculator is updated each year around the time financial aid offers begin going out and we expect similar for access to 2024-25.
In the meantime, you can use the Federal Student Aid Estimator to get an estimate of your federal financial aid eligibility.
Prior-Prior Year Tax Data
The FAFSA® will use prior-prior tax data, which could be up to two years old.
If you or your family have experienced significant changes in income or have expenses that are not reflected on the Free Application for Federal Student Aid (FAFSA®), your special circumstances may be eligible for a professional judgment. Read More»