Schools encouraged to report work-study earnings by December
July 31, 2023
To ensure an accurate calculation of a student's financial need under FAFSA Simplification, schools are being asked to report federal work-study wages by December 2023.
The December 2023 deadline for reporting federal work-study wages (FWS) this year coincides with the anticipated release of the 2024-25 FAFSA, scheduled to be out sometime in that same month (no specific release date has been announced yet).
In the July 21 Electronic Announcement, the Department of Education provided operational guidance for reporting work-study earnings and said the reported work-study earnings information will be used in the calculation of the Student Aid Index (SAI).
“To ensure accurate SAI calculations at start-up, it is strongly recommended that schools plan to complete the submission (and COD System acceptance) of FWS earnings for the 2022 calendar year by December 2023, as data must be on file before the release of the 2024–25 FAFSA form,” the Department said in the announcement. “Timely advance reporting will also help limit unnecessary subsequent Institutional Student Information Record (ISIR) transactions.”
Although the Department encourages schools to report work-study wages by December this year, it said in the announcement that in the future, calendar year FWS reporting deadlines will be “no later than the annual release of the FAFSA form, generally October 1 of each year.”