FAFSA Simplification FAQ
Financial Aid

2024-25 FAFSA Simplification Frequently Asked Questions

Last updated: May 17, 2024

1. What is “Better FAFSA, Better Future”?

The FAFSA Simplification Act or “Better FAFSA Better Future” is a federal initiative to simplify the FAFSA (FREE Application for Federal Student Aid) Form.

2. When will the FAFSA be available to complete for the 24-25 aid year?

The 24-25 FAFSA is now available for students and contributors to complete. The FAFSA will be available in future years on October 1st. *The 25-26 FAFSA form will be available for a limited number of students starting October 1st. It will open for all students on or before December 1st. It is important to complete the FAFSA each year you plan to be enrolled in school to avoid delays in packaging your financial aid in future years.

3. Where do I complete the FAFSA?

The FAFSA is available to complete at http://studentaid.gov/h/apply-for-aid/fafsa

4. How has the process changed?

There are new changes in place to make the FAFSA process easier. The changes include:

• A reduced number of questions on the FAFSA form (from 108 to 36).
• A new formula to determine your ability to pay for college: EFC (Expected Family Contribution) to SAI (Student Aid Index).
• Changes to the Pell formula - The Pell Grant is money that you do not need to pay back. Under the Better FAFSA, the Pell Grant will be calculated using your Student Aid Index (SAI) and in some cases the Adjusted Gross Income (or AGI) from your tax return (which could result in more students qualifying for the Pell Grant).

5. What will I need to complete the FAFSA?

Information needed to complete the FAFSA:

• Herzing school code: 009621
• Your FSA (Federal Student Aid) ID; Your contributor(s) will also need an FSA ID
• Your Social Security Number (or an Alien Registration number if you are not a U.S. citizen)
• Federal Income Tax Return (two years prior)
• Bank Statements (if applicable)
• Record of untaxed income (if applicable)
• Your contributor(s) name, date of birth, social security number, and email address (if applicable)

6. Who is a contributor?

A contributor is anyone asked to provide information on the FAFSA application: this may include you, your spouse, your parent(s), and/or stepparent(s).

7. What will contributor(s) need to complete the FAFSA?

Your contributor(s) will need an FSA ID (username and email address). Contributors will receive an email inviting them to complete their portion of the FAFSA.

8. Why does the FAFSA ask for a signature to review my tax information?

The new direct data share tool will replace the IRS Data Retrieval Tool. To determine your eligibility for federal student aid, your signature will be required to automatically retrieve your Federal Tax Information (FTI). Your signature will be required every year that you complete the FAFSA.

9. Why do my contributor(s) need to sign the FAFSA?

Your contributor(s) will need to provide consent to retrieve their Federal Tax Information (FTI) in the “Consent to Retrieve and Disclose Federal Tax information” section of the FAFSA to determine your student aid eligibility. A signature from your contributor(s) will be required each year that you complete the FAFSA and are required to include the contributor(s) information.

10. What is the SAI and how is this different from the EFC?

The SAI (Student Aid Index) is a new formula to determine your ability to pay for college. Under the old formula, a family's Expected Family Contribution (EFC) was divided equally between college students, and the minimum EFC calculation could not be less than zero. The new formula simplifies the calculation of aid eligibility to make the process more transparent for students and their families by removing the number of family members in college from the calculation and allowing for a minimum SAI of -$1500.