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2024-2025 FAFSA Changes

Last updated October 16, 2023

There are major changes and improvements coming to the 2024–25 Free Application for Federal Student Aid (FAFSA). Historically, the FAFSA has been available beginning October 1st each year. However, because of significant changes to the application and the rebuild of the FAFSA processing system, the 2024-25 FAFSA will be available sometime in December 2023. Updates on an exact date will be posted here when announced.

The FAFSA will be shorter and more user-friendly.

A significant reduction in the number of questions with skip logic allows for a more streamlined format.

The FAFSA will be available in more languages.

The 2024-25 FAFSA will be available in the 11 most common languages spoken by English learner students and their parents.

All “contributors” will need to participate.

A contributor is a new term and refers to anyone required to provide information on the form (such as parents/stepparent or a student’s spouse). Each contributor must have their own account.

Being a contributor does not mean they are financially responsible for the student’s education costs, but it does mean the contributor must provide information on the FAFSA or the application will be incomplete, and the student will not be eligible for federal student aid.

Applicants will be required to use the IRS Direct Data Exchange.

Students and their contributors must provide consent for the Department of Education to receive income tax information or confirmation on non-filing status directly from the IRS.

The Student Aid Index (SAI) will replace the Expected Family Contribution (EFC).

Students and families will see a different measure of their ability to pay for college, and they will experience a change in the methodology used to determine aid. The new need analysis formula removes the number of family members in college from the calculation, allows a minimum SAI of -1500, and implements separate eligibility determination criteria for Federal Pell Grants.

Students must report the income of the parent who provides the most support.

Instead of reporting the income of the parent they live with for most of the year, dependent students of divorced or separated parents now need to report the income of the parent who provides the most financial support.

Net worth of family farms and small businesses must be reported as assets.

Previously, the net worth of a family farm or small business with fewer than 100 employees was not required. Beginning with 2024-2025, the net worth of each will be part of the FAFSA calculation. 

What is not changing?

  • The FAFSA will still be required every year.
  • The FAFSA will still request income tax information from the prior-prior year, which means you will report 2022 income for the 2024-2025 FAFSA. If your financial situation has changed, please reach out to your financial aid counselor.
  • The general types of aid available and federal student loan limits will not change.


NMC’s Financial Aid Office is dedicated to providing timely updates to students, families, and our community. Due to the significant number of changes that are occurring, portions of our website may not yet be 100% accurate for the 2024-2025 aid year. We will continue to update this page as we receive more information from the Department of Education and Federal Student Aid.


Financial Aid Office
Office hours: Mon-Fri, 8-4:30 p.m.
FAFSA code: 009937

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