Hey future Redhawks! We're here to break down the latest updates to the FAFSA in a way that's clear and straightforward. Here's what you need to know...
Simplified Process
You've probably heard about FAFSA simplification – it's all about making things easier for you. The FAFSA form got a makeover to ensure it's less of a headache. These changes will make applying for financial aid smoother and more accessible.
New Release Date
Starting December 2023, you could get your hands on the FAFSA form. Yep, that's a change from the usual October release, but don't worry, due to the delayed roll-out of the 2024-2025 FAFSA, the priority deadline has been moved to April 1, 2024.
Roles in FAFSA
Now, when you fill out the FAFSA, you'll encounter different roles depending on your situation – whether you're a student, a parent, or a spouse. This helps keep everyone's information private and ensures accuracy in the application process.
Getting Your FSA ID
Before you dive into the FAFSA, make sure to grab your Federal Student Aid (FSA) ID. It's like your golden ticket to accessing financial aid, but keep in mind that the process for getting it has changed a bit, so give yourself some extra time.
Tax Information Consent
Here's the deal: to get financial aid, you'll need to give consent for the retrieval of tax information. Without it, you might miss out on aid opportunities.
Impact on Financial Need Calculation
Changes in the FAFSA include collecting info on how many folks in your family are currently enrolled in college. While it won't affect your Student Aid Index (SAI) or Pell Grant eligibility, having siblings in college will likely reduce your financial need.
Family Farm/Business Exemption
Another change you should know about is the removal of the family farm/business exemption. It's a shift in the financial aid landscape, so take note and stay informed.
Revised Financial Aid Offers
Lastly, expect your financial aid offer notices to arrive fashionably late compared to previous years. It's all in the name of ensuring accuracy and fairness in doling out aid to new students like yourself.
Phew, that was a lot of info, but don't stress. We're here to support you every step of the way as you begin your college journey. Remember: at Southeast Missouri State University, we're all about helping you unleash your potential. Do you have the Will To Do? Let's find out together.
SEMO's FAFSA Code is 002501.
For more guidance and resources, head over to Student Financial Services