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Tip of the Week

November 15, 2023

2024-25 FAFSA available on December 31, 2023

As many in the financial aid industry predicted, the 2024-25 FAFSA will be available on December 31, 2023. But there will still be some other delays that could impact schools and students.

Although the release of the FAFSA is later than usual, the December 31 release date does meet the requirements of the FAFSA Simplification legislation. The Department of Education is required by law to have the new 2024-25 FAFSA available by January 1, 2024.

In an Electronic Announcement released today (November 15, 2023), the Department said the changes to the FAFSA form "represent the most ambitious and significant redesign of the processes to apply for federal student aid and the formulas used to determine aid eligibility since. . . the Reagan era."

However, rather than receiving student information shortly after the FAFSA submission, the Department said schools will start receiving the Institutional Student Information Records (ISIRs) by the end of January 2024. As schools start using new systems and processes to accommodate the changes under FAFSA Simplification, this could mean a delay in financial aid offers to students.

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