2024-25 FAFSA Changes

The FAFSA Simplification Act was passed by Congress in 2020 to overhaul and simplify the FAFSA form. The 2024-25 FAFSA form will reduce the number of questions on the FAFSA and streamline the application process on the Web.

JANUARY 30th FAFSA UPDATE

The Department of Education announced that they are making updates to their 2024-25 FAFSA formulas to account for inflationary adjustments are required under law. These updates will take place in the coming weeks and will mean that all completed FAFSAs will be held until the corrections are completed.

The changes by the Department of Education directly impacts eligibility for need-based federal student aid and will ensure that students benefit from this aid. However, this update means that all higher education institutions will not receive your 2024-25 FAFSA data until mid-March.

Greensboro College’s Student Financial Services office is reviewing all the information available from the Department of Education to prepare to receive your FAFSA data. Our office is working to provide all incoming and returning students an accurate financial aid offer as soon as we possibly can.

If you have not yet completed the 2024-25 FAFSA, we strongly encourage you to do so. Our office is available to assist you if you have any questions or need any help.

If you have already completed the 2024-25 FAFSA, you will receive an email from the Department of Education once your FAFSA has been fully processed and the information has been sent to our office. You will be able to make FAFSA corrections (if necessary) after your FAFSA is processed.

If you or your family need help completing the 2024-25 FAFSA, please do not hesitate to contact our office. Our office can schedule an appointment to help you complete the FAFSA.

New Students

It is important to complete your 2024-25 FAFSA as soon as possible. Our office will begin reviewing FAFSAs when they become available in mid-March and will send you a financial aid package in the following weeks. You will receive a digital copy of your Financial Aid Offer by email and a printed copy will be mailed to the address we have on file.

Returning Students

The 2024-25 FAFSA priority filing deadline is still March 15th for all returning students. The updates by the Department of Education may delay when you receive your 2024-25 financial aid information. Additionally, your financial aid may be affected by the FAFSA changes. Our office will work quickly once we have received your FAFSA, but you may not receive an email notifying you about your financial aid until after the Spring semester has ended.

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Major Changes

FAFSA Opening

The 2024-25 FAFSA will be available online in January 2024. Students will need to visit StudentAid.gov to get started. Our priority deadline for the 2024-25 FAFSA is March 15, 2024.

Don’t forget! You will need to include Greensboro College’s school code on your 2024-25 FAFSA. Greensboro College’s school code is 002930

*The FAFSA will return to an October 1st opening date next year.

StudentAid.gov Username & Password

The student and parent(s) will need to have unique StudentAid.gov usernames and passwords. If you have completed the FAFSA online in a previous year, you will use your same username and password.

In some cases, BOTH parents will need to create a StudentAid.gov username and password. We strongly encourage both parents to create their username and password before January 2024.

Filing the FAFSA

The process to file your 2024-25 will begin with the student logging in to StudentAid.gov using their student account. After the student answers questions regarding the student information, the FAFSA will then prompt the student to invite the parent to complete their required sections.

Parents will receive an email where they must log in and finish their part of the FAFSA form.

Student Aid Index (SAI)

The Student Aid Index (SAI) will replace the Expected Family Contribution (EFC). Your SAI will be calculated by the information listed on your FAFSA and will be used to determine your eligible for federal, state, and institutional financial aid.

Tax Information

The 2024-25 FAFSA will use 2022 Tax Information for both the student and parent. The student and parent(s) must provide consent for the Department of Education to use your tax information from the IRS.

If you or a parent do NOT provide consent for your tax information, you will NOT be eligible for federal or state financial aid.

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How to Prepare

• Create your StudentAid.gov Username & Password

  • If you have completed the FAFSA online before, you will already have a StudentAid.gov username and password.

    • Forgot your username and/or password? Visit StudentAid.gov to recover your account.

  • New students will need to create a StudentAid.gov username and password online at StudentAid.gov.

    • If your parents are married or your parent has remarried, we strongly encourage BOTH parents to create a StudentAid.gov username and password.

    • It will take up to 72 hours to activate your StudentAid.gov username, so plan ahead.

• File your FAFSA Early

  • Be prepared to complete your 2024-25 FAFSA in January 2024.

  • Greensboro College’s priority FAFSA Filing Deadline is March 15, 2024.

  • Don’t forget to include our school code on your FAFSA!

  • Greensboro College’s school code is 002930