FAFSA is changing for our 2024 graduates. Important updates below!
https://studentaid.gov/help-center/answers/article/fafsa-simplification-act
The terminology of EFC (Estimated Family Contribution) is now replaced with SAI (Student Aid Index) reflecting the change in methodology for calculating aid.
The FAFSA initial submission should include all possible colleges when students submit the FAFSA, because adding future colleges or making FAFSA correction(s), the process is expected to be delayed for these types of corrections.
3. Colleges & NJ HESAA will receive FAFSA output (ISIRS) data sometime in late January 2024. College need based awarding and the state financial aid management system (NJFAMS) will not get data from FAFSA processing until this later date in January 2024.
4. Undocumented parents of US citizen students must a get a FSA ID account to give consent and pull IRS FTI Tax Data, however that process will not be available to these undocumented parents until the FAFSA release date. The same link is used for all other FSA Account setups.
Link to create an account: https://studentaid.gov/fsa-id/create-account/launch