FAFSA Simplification

Last updated 4/26/2024

  • Geneseo has begun sending financial aid award packages to new students for the 2024-25 academic year! Award letters will be uploaded to your application portal and mailed to your home address. We will continue to send aid packages as FAFSAs are received. Award packages for current students should be available in mid/late May.  
  • In addition, you can now make corrections to your 2024-25 FAFSA. If you need to make a change or have been instructed to update your previously submitted FAFSA, you should now be able to do so.
  • If you have not yet completed a 2024-25 Free Application for Federal Student Aid (FAFSA), we ask that you submit it as soon as you are able.

The FAFSA Simplification Act represents a significant overhaul of the processes and systems used to award federal student aid starting with the 2024–25 award year. This includes the Free Application for Federal Student Aid (FAFSA®) form, need analysis, and many policies and procedures for schools that participate in federal student aid programs. 

These changes are aimed at making it easier for students and their families to apply for financial aid with a more streamlined application process.  

The New York State Tuition Assistance Program (TAP) application was released on November 1, 2023. 

New aid applicants can complete the TAP application after submitting the FAFSA. Once the FAFSA is processed beginning in March, applicants will need to return to their TAP application to submit it. 

Previous aid filers will need to wait until their FAFSA is submitted and processed in March before they can submit a TAP application. 

 

We will continue to update this page as we receive more information from the Department of Education.

The Student Aid Index (SAI) Estimator is now available!

You can use the calculator to get an estimate of your Federal Pell Grant and student loan eligibility

for the 2024-25 academic year. (Keep in mind - this is only an estimate and not a guarantee of funds.)

What must you do to prepare for the 2024-25 FAFSA?

  • Apply for an FSA ID, if you don't have one already.
    • Both the student and all parent contributors will need an FSA ID to electronically sign the FAFSA when it is released.
    • This must be completed at least 3-5 business days BEFORE completing the FAFSA.
  • Locate your tax returns from 2022. If you didn't save a copy, request a free tax transcript from the IRS.

Instructions for obtaining an FSA ID for individuals without a social security number - English version, Spanish version.

Key changes 

  • Availability – the 2024-25 FAFSA will not be available until December 2023 (instead of October 1st). The exact date to come.   
  • More streamlined application process with fewer questions, and an easier way to transfer the tax information directly from IRS. 
  • Student Aid Index (SAI) replaces the term Expected Family Contribution (EFC). 
  • New terminology – you will notice new terminology being used in the application and aid eligibility process. 
  • Pell grant eligibility will now be based on the poverty guidelines, SAI, family size, and the student/family’s Adjusted Gross Income (AGI). 
  • The number of multiple children has been eliminated from the SAI calculation.

Terminology changes 

  • Contributor: anyone who is asked to provide information on the FAFSA – student, student spouse, parent(s), and stepparent(s) for example. 
  • Consent: each contributor will now need to provide their consent to their Federal Tax Information (FTI) being included in the FAFSA, even if they did not file a U.S. tax return. 
  • SAI: Student Index Aid (SAI) replaces the Expected Family Contribution (EFC). The EFC was used to calculate the amount a family could contribute to a student’s education. The SAI is now based on an actual index of the federal poverty level guidelines.
  • FTI: Federal Tax Information (FTI) transferred directly from the IRS. 

Changes to the application 

  • The number of questions on the FAFSA will be reduced. Keep in mind that although the number of initial questions are fewer, there may be additional questions depending on your answers, so there could still be a lot of questions to answer.
  • For students whose parents are divorced or separated, the parent on your FAFSA will be the parent who provides you with the most financial support and will no longer be the parent with whom you lived with the most over the past 12 months. (If the parent contributor is remarried, step-parent information will also need to be included on the FAFSA.) Students will be able to use the "Who is my Parent?" tool to determine who should be listed as a contributor on the FAFSA.
  • Each contributor (student, student spouse, parent(s) and/or stepparent) will have to provide consent.   
  • If any contributor does not provide their consent the Student Aid Index (SAI) will not be calculated, and we will not be able to determine your eligibility for financial aid. 
  • Foster, homeless, and unaccompanied youth—as well as applicants who cannot provide parental information—will be able to complete the form with a provisional independent student determination and receive a calculated SAI.  
  • Students can list up to 20 schools on their FAFSA via the online application. 

Other changes 

  • A direct data share with the IRS will replace what is currently known as the IRS Data Retrieval Tool (DRT).  
  • Resources for completing the FAFSA form will be expanded to the 11 most common languages spoken in the United States.

FAFSA Links

Related Pages
Office of Financial Aid
The Free Application for Federal Student Aid
Financial Aid FAQ
Financial Aid Examples