FAFSA Changes for 2024-2025

• The number of family members in college will no longer impact eligibility calculations and will no longer be asked on the FAFSA.
• The definition of ‘custodial parent’ has changed and no longer refers to the parent with whom you have lived most of the time. Instead, the parent on the FAFSA will be the parent who provides you with the most financial support.
• The Expected Family Contribution (EFC) will become the Student Aid Index (SAI).
• The Student Aid Index (SAI) can be a negative value, with a minimum of -1,500, rather than zero as in previous years where the EFC was used.
• The process for transferring parental tax information to the FAFSA now requires them to give consent via the Consent to Retrieve and Disclose Federal Tax Information section of the FAFSA.
  • This consent will allow the IRS to share federal tax information.
  • If any party to the FAFSA form does not provide consent, submission of the form will still be allowed. However, a Student Aid Index (SAI) will not be calculated.
• The IRS Data Retrieval Tool (DRT) will now be referred to as the Direct Data Exchange (DDX), and will be used to transfer tax information directly to the FAFSA.
• As a result of the new formula, some students will have increased Pell eligibility, while a smaller percentage of students will have decreased or no Pell eligibility.
• Students with unusual circumstances preventing parent data provision receive provisional independent status. Further review by the Office of Financial Aid is required.

Students and families may now begin to complete and submit the 2024–25 FAFSA form online. The Department of Education will be treating the period leading up to and following December 31, 2023 as a soft launch period, which will allow them to monitor and respond in real time to any potential issues impacting the applicant experience. You may review their announcement on their website.

Here is what you can expect during the soft launch:

• FSA will initiate pauses for site maintenance and to make updates as needed to create a better FAFSA experience for students and families. Users who go on-line during a temporary pause should check back at a later time to complete the form.
• If a student completes their FAFSA form, but a contributor cannot access the site during a period when the site is unavailable, the contributor can return to complete their portion of the form as soon as the site becomes available again. 
• Applicants may experience a waiting room feature, which will help control website volumes to ensure optimal performance of the form.
• If a student completes their form during the soft launch period, their information will be stored for processing. They do NOT need to return to resubmit their application after the soft launch concludes.
• Any data entered in the form is still in the system and is secure.
• If FSA initiates site maintenance while a student or contributor is completing an application, their data is securely saved in the system as they progress through the application.
• After all sections of the online FAFSA form are completed and submitted, the student will receive a confirmation email noting their submission date, their estimated Student Aid Index (SAI), and estimated Federal Pell Grant eligibility. However, the student will not receive a FAFSA Submission Summary until FSA processes the FAFSA, beginning in late January.

Application Deadlines:

Students should submit the FAFSA as soon as they are able. The College will begin receiving student reports in mid-March. Admitted Regular Decision applicants will receive estimated awards at the time of their decision release in late March. We hope to finalize all financial aid packages in April once FAFSA information is received and processed. 

**Please note: Regular Decision applicants must complete the CSS profile by January 15th. Additional requested documentation must be uploaded to the Barnard Applicant Portal by January 25th. Please review the financial aid checklist within the portal to see what is required.

FSA is updating its messaging to students and their families on StudentAid.gov and in other external communications to explain:

• The colleges/universities students select will receive the student’s FAFSA eligibility information starting in late January.  Students will receive an email informing them when that information has been sent to the schools.
• Students will receive an email when their FAFSA Submission Summary is available to review on StudentAid.gov.
• Admitted ED applicants who applied for aid received an estimated financial aid package with their acceptance letter. This included estimated federal awards based on information included in the CSS profile. Enrolling ED students will receive a finalized financial aid package in early April.
• Admitted Regular Decision applicants will receive their aid information along with their admission decision late March.

Information specific to NY State residents: 

• Students who are legal residents of New York will be directed by the FAFSA form to a state-approved URL to complete their state applications.

If you have any questions about your admissions application, please feel free to contact admissions@barnard.edu. For questions about the 2024-2025 FAFSA application, please feel free to contact finaid@barnard.edu.

ADMITTED EARLY DECISION APPLICANTS who indicate a desire to be considered for Financial Aid should carefully review the following:

• Admitted Early Decision applicants must submit the FAFSA by February 15, 2024. Barnard will begin receiving student aid reports from FAFSA in late January. We will begin sending final financial aid letters in early April once we receive your student aid report from FAFSA. Provided the information entered in the CSS profile matches what was entered in the FAFSA, your financial aid award will not change.
• Students must submit the CSS profile. They must also use the Federal Need Estimator, and submit a .pdf copy of their results from the Estimator via the applicant portal in order to be considered for federal and institutional aid. Please note, the Financial Aid package students receive in December will show their estimated SAI and tentative federal and institutional awards.
• Additional requested documentation must be uploaded to the Barnard Applicant Portal by November 10th. Please review the financial aid checklist within the portal to see what is required. 
• Students should identify which parent they will use on the FAFSA if their parents are not married, and begin collecting the 2022 federal taxes and w2 information for that individual. If parents are married, students must collect documentation for both parents.
• As soon as possible, students should register themselves and help their parent(s) register for an FSA ID on the Federal Student Aid website.
• The Federal Department of Education has provided resources on How to complete the FAFSA. Once FAFSA’s are received, we will review the estimated packages and send ‘Revised Award Notices’ to those with updated packages. 

REGULAR DECISION APPLICANTS who indicate a desire to be considered for Financial Aid should carefully review the following:

• Regular decision applicants must complete the CSS Profile by January 15, 2024 and the FAFSA by February 15, 2024.
• Additional requested documentation must be uploaded to the Barnard Applicant Portal by January 25th. Please review the financial aid checklist within the portal to see what is required.

TRANSFER APPLICANTS who indicate a desire to be considered for Financial Aid should carefully review the following:

• Fall 2024 transfer applicants must submit their 2024-25 FAFSA and CSS profile by March 15, 2024.

CURRENT OR RETURNING STUDENTS who indicate a desire to be considered for Financial Aid should carefully review the following:

• Students must submit their 2024-2025 FAFSA and CSS Profile by April 15, 2024.