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Department provides summary of major changes under FAFSA Simplification
August 17, 2023
So much is happening to financial aid with the implementation of FAFSA Simplification, it’s hard to keep track of all the changes.
To help keep financial aid and other higher education professionals on track, the Department of Education has issued a summary of all the FAFSA Simplification changes that will become effective for the 2024-25 Award Year.
In an August 4 Dear Colleague Letter (DCL), the Department summarized changes to requirements under Title IV of the Higher Education Ac, which will become effective for the 2024-25 Award Year. According to the Department, “these changes include significant modifications to the need analysis formulas and calculation of Federal Pell Grant awards.”
In the DCL, the Department provided information on the changes resulting from the Act that have previously been implemented. In addition, the Department explained the final changes to the need analysis formulas and the calculation of Pell Grant awards that the Department is implementing beginning with the 2024-25 Award Year.
The Department said it will make significant and extensive changes to the FAFSA form and process for the 2024-25 Award Year to implement these statutory changes.