The time is nearly upon us, and we are thrilled to open our scholarship applications for the 2024 season starting January 15th.
Here at the California Scottish Rite Foundation, we recognize the significance of financial aid in supporting your educational pursuits. To assist you in preparing for this scholarship season, we would like to highlight a few changes made to the 2024-25 FAFSA application:
1. The 2024-25 FAFSA form launched Dec. 31, 2023.
Before you complete the form, make sure you are educated on which form is right for you. Take a look at this chart provided by Federal Student Aid to further understand your specific circumstances.
2. Any person who provides information on your FAFSA form will be considered a contributor.
The term “Contributor” is a new term on the 2024-25 FAFSA form. This term refers to anyone who’s asked to provide their information, consent, and approval to have their federal tax information transferred from the IRS into the FAFSA form, along with their signature. These can include, (you, your biological or adoptive parent, your parent's spouse, or your spouse). Those identified as contributors are not responsible for the payment of your educational costs. Their participation helps to determines your eligibility for federal student aid. The use of the online FAFSA form will tell you who needs to be a contributor determined by your personal circumstances.
3. Both you and your contributor must provide approval and consent to be eligible for federal student aid.
This approval and consent allows the IRS to transfer your federal tax information into the FAFSA form. Learn more about what it means to provide consent and approval in 2024-25 here.
4. You must have an account with StudentAid.gov to access the FAFSA form.
To start your 2024-25 FAFSA form, you will need to create and/or log in to StudentAid.gov. This will allow you to access the form, provide approval and consent, sign, and, upon completion, submit the form.
5. The formula used to determine your financial aid eligibility has changed.
Your Student Aid Index (SAI) is calculated using the information provided on the FAFSA form. Your SAI ranges anywhere from -1500 to 999999 allowing for your college, trade school, or career school to calculate how much and what types of financial aid you are eligible to receive. The SAI replaces the former EFC (Expected Family Contribution) starting in 2024.
6. Federal Pell Grant eligibility has expanded to more students.
That's good news! You may qualify for additional Federal Pell Grant funds. This expansion is predicted to allow 610,00 new students eligible for a Federal Pell Grant. Additionally, 1.5 million students will also gain eligibility to receive a maximum Pell Grant award. Your SAI may contribute to the formula that determines your Pell Grant eligibility but it is not the determining factor as the consideration for family size and federal poverty guidelines have expanded.
7. The Student Aid Report is now the FAFSA submission summary.
After your FAFSA form is submitted and processed, you will receive an online copy of your FAFSA Submission Summary. This Submission Summary replaces the Student Aid Report starting in 2024. The FAFSA Submission summary highlights your eligibility for federal student aid including your SAI and an estimate of the amount of student aid that you may be eligible for. It is important to note this Summary is not an aid offer, offers will come directly from schools listed on your FAFSA form and with admittance.