FAFSA Simplification: Campus-wide Impact
FAFSA Simplification:
Campus-Wide Implications
•
What is FAFSA simplification?
o
Implications of FAFSA Simplification
on Campus
•
Why is FAFSA simplification happening?
•
When is FAFSA simplification happening?
•
Who is impacted on campus by
FAFSA simplification
Agenda
What?
The product of several pieces of legislation over the
past few years
•
FUTURE Act
•
Consolidated Appropriations Act of 2021
o
Student eligibility criteria for federal student
aid
o
Pell grant eligibility
o
Eligibility formula for other types of federal
student aid
•
Consolidated Appropriations Act of 2022
Simplifies the FAFSA completion
process for students
Adds new responsibilities for institutions
•
Protecting Federal Taxpayer Information (FTI)
•
Reporting and disclosure requirements
3
What else?
•
National trend of more Pell
recipients, larger Pell
awards, and lower SAIs vs.
EFCs
•
New treatment of
emergency financial aid
•
Change to treatment of
multiple family members in
college
•
Change to treatment of
small businesses and family
farms
•
Questions removed from
2024-25 FAFSA
•
Delayed release of
2024-25 FAFSA
Implications of FAFSA Simplification on campuses:
4
4
Expanded access to
postsecondary education
Pell grant eligibility
predictability
and transparency
Greater program integrity,
data accuracy, and reduced
need
for verification
5
Why?
Restored eligibility for failure to
register for Selective Service
and for students with prior
drug conviction
•
Cost of attendance changes
•
Pell grant eligibility for Prison
Education Programs
•
Professional Judgment changes
•
Provisional Independent
student status
•
New Pell grant
eligibility formula
•
SAI replaces EFC; associated
formula changes
•
IRS Direct Data Exchange with ED
to share FTI
2021:
2023-24:
2024-25:
6
When?
Who?
•
FAO
•
Student Life
•
Admissions
•
IT
•
Budget
•
Institutional Research
•
Emergency aid programs
•
Human Resources/Finance
FAFSA Simplification impacts many campus units
7
Ramifications of FAFSA
Simplification on Campus
•
New data sharing limitations
•
Need for data from other campus offices
•
Budget impacts
•
Student enrollment & retention
8
The FAFSA simplification aims to streamline the financial aid process for students through recent legislative changes, with implications including increased Pell grant recipients and changes in aid eligibility criteria. The shift towards simplification benefits access to postsecondary education, program integrity, and data accuracy, impacting various campus units.
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Presentation Transcript
FAFSA Simplification: Campus-Wide Implications
Agenda What is FAFSA simplification? o Implications of FAFSA Simplification on Campus Why is FAFSA simplification happening? When is FAFSA simplification happening? Who is impacted on campus by FAFSA simplification
What? The product of several pieces of legislation over the past few years Simplifies the FAFSA completion process for students FUTURE Act Adds new responsibilities for institutions Consolidated Appropriations Act of 2021 o Student eligibility criteria for federal student aid o Pell grant eligibility o Eligibility formula for other types of federal student aid Protecting Federal Taxpayer Information (FTI) Reporting and disclosure requirements Consolidated Appropriations Act of 2022 3
What else? Implications of FAFSA Simplification on campuses: National trend of more Pell recipients, larger Pell awards, and lower SAIs vs. EFCs New treatment of emergency financial aid Change to treatment of multiple family members in college Change to treatment of small businesses and family farms Questions removed from 2024-25 FAFSA Delayed release of 2024-25 FAFSA 4 4
Why? Expanded access to postsecondary education Pell grant eligibility predictability and transparency Greater program integrity, data accuracy, and reduced need for verification 5
When? 2021: 2023-24: 2024-25: Cost of attendance changes New Pell grant eligibility formula Restored eligibility for failure to register for Selective Service and for students with prior drug conviction Pell grant eligibility for Prison Education Programs SAI replaces EFC; associated formula changes Professional Judgment changes IRS Direct Data Exchange with ED to share FTI Provisional Independent student status 6
Who? FAFSA Simplification impacts many campus units FAO Student Life Admissions IT Budget Institutional Research Emergency aid programs Human Resources/Finance 7
Ramifications of FAFSA Simplification on Campus New data sharing limitations Need for data from other campus offices Budget impacts Student enrollment & retention 8
