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Students and parents can now estimate federal financial aid eligibility for 2024-25
October 11, 2023
*NOTE: The Student Aid Estimator is now available again, although it may be unavailable from time to time as adjustments are made.
Even though the 2024-25 FAFSA won't be available until sometime in December, students are now able to use a new tool to determine their financial aid eligibility.*
In a September 21 Electronic Announcement, the U.S. Department of Education announced the release of a newly revised Federal Student Aid Estimator, which will provide an estimate of the new Student Aid Index (SAI) and revised federal Pell Grant eligibility calculation.
The Department revised the estimator tool to reflect changes mandated by the FAFSA Simplification Act. Those changes impacted the financial aid need analysis formula, federal financial aid policies and procedures, and some of the financial aid terminology.
“This early view precedes the launch of the 2024-25 FAFSA form in December and will allow students, families, financial aid administrators, and other college access professionals to plan ahead for college, career school, or trade school,” the Department said in the announcement. “By answering a few simple questions pertaining to federal student aid eligibility and the student’s financial situation, the tool calculates an estimated award amount for Pell Grants, Direct Loans, and work study funds.”
Anyone can access the new Federal Student Aid Estimator at studentaid.gov/aid-estimator. While the Estimator should help students and families plan for college, the Department reminds users it is not an aid application and students will not receive any aid without submitting a FAFSA form at studentaid.gov and meeting the eligibility criteria.