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FAFSA Simplification

FAFSA Simplification is the first major redesign of the Free Application of Federal Student Aid process in 40 years. Our goal in the Office of Scholarships and Financial Aid is to make sure we are here to support you and your family by making this a seamless process.

 

This significant overhaul will take effect for the 2024-25 school/award year, making it easier for students and families to complete and submit the FAFSA form. It also expands access to federal aid. You can learn more about the FAFSA Simplification Act on the studentaid.gov website.


What to expect once you've completed the FAFSA? 

Even though the FAFSA will open toward the end of December, OSU won't receive your information until late March. 

  • You will receive a confirmation email from Federal Student Aid after filing the FAFSA. 
  • If you or a contributor (parent/guardian) need to make corrections to the FAFSA, you will not be able to do so until late-March at the earliest. You can check the status of your application in the "My Activity" section of your studentaid.gov account. 
  • To correct your 2024-25 FAFSA to include parent information, once your FAFSA form is processed, you will first need to correct any information that previously indicated you were not going to be providing parent information. Then, when prompted in the FAFSA form, you will need to invite your contributor (parent) to complete their portion of the form. Please note that your parent(s) will need to have their own Federal Student Aid ID (FSAID) log-in, so that they can provide the required information and consent/approval. Due to the updated FAFSA form and requirement to provide consent/approval, a school is no longer able to correct a FAFSA form to include parent information that was not previously provided.
  • Sometimes, when students file the FAFSA, the Office of Scholarships and Financial Aid will request additional information, such as tax documents or specific forms. We cannot start requesting this information until late March.
  • You filed the FAFSA to determine what you are eligible for in federal aid. Incoming students should receive their award notification in mid-April. Current students should receive their award notification late April.
  • Please note these dates may change if there are further nation-wide delays in schools receiving FAFSA information. 

All of this to say — keep an eye on your OSU email and your financial aid portal at myokstate.edu. We will send you information regarding your FAFSA as soon as possible. A big thanks for being so patient with the FAFSA delay this year!


What does it mean for me? 

  • The FAFSA usually opens for the next academic year on Oct. 1. Due to the changes, it will be available by Dec. 31. 

      • We have been told this date change is only for the 2024-2025 FAFSA and will go back to Oct. 1 for 2025-26 and beyond. Students will notice fewer questions on the application and an easier way to transfer tax information directly from the IRS.

 

  • Another change students and families will notice is the replacement of the Expected Family Contribution (EFC) with the Student Aid Index (SAI) and how your level of financial need is calculated. 

 

  • This new formula will expand the Federal Pell Grant to more students who may have not received it in the past.

 

  • Student and families will be required to report the value of the family farm and/or business.

 

  • Student will notice a change in terminology for parents and student spouse. They will now be called contributors and each contributor will need to consent to their information being included on the FAFSA. 

      • Students will be walked through a process that will help determine who is considered their parents/contributors. 


Video Resources from Federal Student Aid


FSA ID

While you wait for the 2024-25 FAFSA to be released and if you haven't filed the FAFSA in the past, you can apply for your FSA ID now.

 

The FSA ID consists of a username and password you create to gain access to the U.S. Department of Education's online systems. It serves as your legal signature when completing the FAFSA. 

 

  • Go to the Federal Student Aid website to start the FSA ID Process. 
  • Everyone contributing (parent/stepparent or spouse) to the FAFSA form online must have their own account on the Federal Student Aid (FSA) website. Each contributor, including the student, will access their account with their own FSA ID (account username and password).
  • Parents/contributors who do not have a social security number will not be able to register for a FSA ID until the 2024-25 FAFSA is released. 

 

We will keep you updated as more information becomes available. Questions? Contact the Office of Scholarships and Financial Aid.

 

 

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