2024-25 FAFSA Now Open, Students May Experience Delays

1/5/2024

 

The 2024-25 Free Application for Federal Student Aid (FAFSA) is now open for students and families to access financial aid for college and career/trade school. The FAFSA can be completed at fafsa.gov.

Delayed from its typical open date of Oct. 1, Federal Student Aid soft launched the updated FAFSA form on Dec. 30, 2023. Currently in its soft launch period, students may experience delays while completing their FAFSA. More information about the overall FAFSA changes is available here, and the 2024-25 FAFSA timeline is available here. 

Minnesota families who are attending college or career/trade school between July 1, 2024 and June 30, 2025 should complete the new 2024-25 FAFSA. All students, regardless of income, should complete the FAFSA. 

The federal deadline to submit is June 30, 2025, which is also Minnesota’s deadline to access the main state financial aid program, the Minnesota State Grant. Each college and career/trade school may have its own deadline. Be sure to check with the school you’re interested in attending.

Note: The Minnesota Dream Act, the application for financial aid for undocumented students, will launch in January 2024.

Anticipate Pauses and Delays During Soft Launch Period 

• Due to the high traffic to the FAFSA application, users may see a waiting room feature to help manage website volume. Federal Student Aid announced that students do not have to rush to complete the FAFSA during its soft launch period, as institutions selected in a student's FAFSA will receive their eligibility results starting in late January 2024. 
  
  Given the delay in processing this information, financial aid offers from schools will also be delayed. Students, as well as schools, will not be able to make corrections to the FAFSA until February 2024. 

Be Prepared 

• All applicants and their contributors must have an FSA ID. Those who do not have this login credential should create an account now, as it can take up to three days to be processed and verified. You may start to see the terms “StudentAid.gov account” and “FSA ID” used interchangeably.  
  
  Do you have questions on if you have a contributor or who your contributor(s) may be? There is a helpful “Is My Parent a Contributor?” graphic and additional contributor information on the Federal Student Aid website. 

• Applicants and contributors MUST provide consent and approve to have the IRS transfer data into the FAFSA, even if contributors do not have a Social Security Number (SSN). This step is essential to accessing financial aid. If no consent is given, the student will not receive aid.   

• After the FAFSA is submitted and processed, applicants will receive an email confirmation. The former Student Aid Report (SAR) has become the FAFSA Submission Summary. The FAFSA Submission Summary is a summary of the data provided and the calculated Student Aid Index (SAI). It also highlights eligibility for federal student aid, specifically the Federal Pell Grant. The FAFSA Submission Summary is not a Financial Aid Offer; aid offers come directly from the college or university. 

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Need Assistance? 

The Federal Student Aid Information Center’s number is 1-800-433-3243 (1-800-4-FED AID) has extended service hours for January through April: 

• Monday-Friday 7:00 a.m. - 9:00 p.m. CT
• Saturday 10:00 a.m. - 4:00 p.m. CT
• Closed Sundays and Federal Holidays 

Additionally, Minnesota Office of Higher Education Financial Aid staff can help answer questions about the application or process. The number to call is 651-642-0567. Select option 2. The line is answered Monday-Friday 8:00 a.m. - 4:30 p.m.

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Get help at Ready, Set, FAFSA! January 2024 Series

Kicking off the new year and assisting with the new FAFSA changes, the Minnesota Office of Higher Education, Minnesota Department of Education, ECMC's The College Place Minnesota, and Minnesota Goes to College are hosting Ready, Set, FAFSA!, a series of financial aid webinars for Minnesota students and families as they prepare for the college-going process. All sessions will have simultaneous interpretation in Spanish, Somali, and Hmong. Questions will be answered live in the chat, and for each session attended, students will be entered to win a $500 scholarship.

The series, which runs Tuesday evenings Jan. 9 through 30, will cover important information on how to create a Federal Student Aid ID (FSA ID), which is required for all students and contributors; applying for the FAFSA and Minnesota Dream Act (for undocumented students); general financial aid information; as well as how to understand your offer letters from your selected colleges.

• January 9, 2024, 7 p.m. – Create your FSA ID

• January 16, 2024, 7 p.m. – Apply for FAFSA

• January 23, 2024, 7 p.m. – Apply for Dream Act

• January 30, 2024, 7 p.m. – Understand your Offer Letter

Click here to learn more and register for each session.