The FAFSA Simplification Act signifies a major restructuring of the methods and systems utilized to allocate federal student aid, starting from the 2024–25 award year. This extensive transformation includes revisions to the Free Application for Federal Student Aid (FAFSA®) form, adjustments to need analysis processes, and the implementation of new policies and procedures for educational institutions participating in federal student aid programs.
Parker University will continue to monitor the impacts on students and update this website as more information becomes available. Key changes will have large impacts on both students and the school. Below are some of the major change's students may see.
What is changing?
The 2024–25 Free Application for Federal Student Aid (FAFSA®) form is now available —with some big changes for students and families. Read on to learn seven critical ways the experience is changing.
1. The 2024–25 FAFSA® form launched in December 2023.
That’s right—the FAFSA form launched on Dec. 31, 2023. The federal deadline to submit the 2024–25 FAFSA form will be June 30, 2025.
Be sure to add our school code: 016293
2. Anyone who provides information on your FAFSA® form will be considered a contributor.
“Contributor” is a new term on the 2024–25 FAFSA form. It refers to anyone (you, your spouse, your biological or adoptive parent, or your parent’s spouse) who’s asked to provide their information, consent, and approval to have their federal tax information transferred automatically from the IRS into the FAFSA form (more on that later), and signature on your FAFSA form.
Note: Unless they’ve legally adopted you, your grandparents, foster parents, legal guardians, siblings, and aunts and uncles aren’t considered contributors—even if they helped provide for or raise you.
Being identified as a contributor on the FAFSA® form won’t make your family member responsible for paying for your education costs.
Wondering how you’ll know if you need to add contributors to your FAFSA form? Don’t worry—the online FAFSA form will tell you who needs to be a contributor based on your answers to certain questions.
You’ll also answer questions about your circumstances to determine whether you’re a dependent or independent student. If you’re considered a dependent student, your parent will be identified as a contributor. And if your parent is married (and not separated) but didn’t file taxes jointly, their spouse will also be a contributor.
If you’re considered an independent student on the FAFSA form, your spouse will be identified as a contributor only if you’re currently married (and not separated) but didn’t file taxes jointly.
Note: Even if you’re living with your parents, you may still be considered independent based on your answers to certain questions on the FAFSA form.
No matter whether you’re a dependent or independent student, your contributors must participate on your FAFSA form so we can determine your eligibility for federal student aid.
View the infographic below to see who will be considered a contributor when you fill out your FAFSA form.
3. You must provide consent and approval to be eligible for federal student aid.
Both you and your contributors must provide consent and approval to have the IRS transfer your federal tax information into the FAFSA form. Your contributors must provide consent and approval even if they don’t have a Social Security number (SSN), didn’t file a tax return, or filed a tax return outside the U.S. If you or your contributors don’t provide consent and approval, you won’t be eligible for federal student aid.
Watch What Does It Mean To Provide Consent and Approval on the 2024–25 FAFSA® Form? to learn more.
What if consent is not provided?
- If the parent contributor refuses to provide consent, student will be given opportunity to indicate whether they would like to receive only Direct Unsubsidized Loan.
- If student or spouse contributor does not provide consent, student is not eligible for any Title IV aid.
4. You won’t be able to access the FAFSA® form without a StudentAid.gov account.
To start your online 2024–25 FAFSA form, you’ll need to log in to your StudentAid.gov account. If you don’t have one already, you and your contributors will each need to create your own StudentAid.gov accounts to access the online FAFSA form, provide consent and approval, sign, and submit the form.
Beginning with the 2024–25 FAFSA® form, each of your contributors (if you have any) will be able to create a StudentAid.gov account even if they don’t have an SSN.
As a student, you’ll be required to enter your SSN (unless you’re a citizen of the Freely Associated States) to create your StudentAid.gov account.
After you and your contributors have created your accounts, you can complete your sections of the FAFSA form on your own.
Whether you’re a student, parent, or borrower, you’ll need to create your own account to apply for, receive, and manage your federal student aid.
Get Started
5. The formula used to determine your financial aid eligibility is changing.
Your Student Aid Index (SAI) is an index number that’s calculated using the information that you and your contributors provide on the FAFSA form. Your SAI can range anywhere from –1500 to 999999. Note that it is not a dollar amount. The SAI replaces the Expected Family Contribution (EFC) starting in the 2024–25 award year.
Once Parker University knows your SAI, we will use it to calculate how much and what types of financial aid you’re eligible to receive.
6. You may qualify for additional Federal Pell Grant funds.
Good news: Federal Pell Grant eligibility has expanded to more students.
Although your SAI may contribute to the formula to determine your Pell Grant eligibility, it’s not the only determining factor. Other information, like family size and federal poverty guidelines, will also be used to determine whether you qualify for a Pell Grant.
The maximum Federal Pell Grant award is updated every year. For the 2023–24 award year, the maximum Pell Grant award is $7,395. The maximum Pell Grant award amount for the 2024–25 award year will be announced in 2024.
Even if you don’t qualify for the maximum Pell Grant award, you may still be eligible for a Pell Grant based on other information you provide on your FAFSA form.
7. The Student Aid Report is now the FAFSA Submission Summary.
After your FAFSA form is submitted and processed, you’ll receive an email with instructions on how to access an online copy of your FAFSA Submission Summary. The FAFSA Submission Summary replaces the Student Aid Report for the 2024–25 award year.
The FAFSA Submission Summary has been specifically designed to highlight your eligibility for federal student aid. It will include the answers that you submitted on your FAFSA form (except for any federal tax information that was transferred directly from the IRS), your SAI, and an estimation of the amount of federal student aid that you may be eligible for.
Your FAFSA Submission Summary is not an aid offer.
Aid offers will be emailed by Parker University.
Want more information about the 2024–25 FAFSA form? Check out our “FAFSA® Frequently Asked Questions” YouTube playlist for answers to common questions about the new form.
Why is it changing?
Below are 3 links providing details these changes:
Consolidated Appropriations Act, 2021:
Consolidated Appropriations Act, 2022:
Anticipated Impact on Students Financial Aid Eligibility
- A larger number of students are expected to qualify for Pell Grants.
- The average Pell Grant amount is anticipated to increase.
- The financial need for dependent students with siblings in college will decrease significantly, as the number in college will no longer be a part of the need formula. This may result in a reduction in Pell Grants for many in this category.
- Families with a business or farm are likely to experience a decrease in their demonstrated financial need.
What You Need to Know Now
- The 2024–25 FAFSA form will offer a new, streamlined user experience for students and their families.
- Applicants will be able to skip as many as 26 FAFSA questions, depending on their circumstances. Some applicants will need to complete as few as 18 questions, taking less than 10 minutes.
- Go to Studentaid.gov to complete the 2024-2025 FAFSA application.
What You Can Do Now
Stay Informed
Stay informed about the changes to the 2024–25 FAFSA and receive up-to-date notifications and information. To ensure you get future updates, log in and verify your current email address.