FAFSA® Simplification Changes for 2024-2025
The FAFSA® Simplification Act represents a significant overhaul of the processes and systems used to award federal student aid starting with the 2024-2025 award year. Normally, the FAFSA® has been available in October for the following fall. The new FAFSA® features fewer questions and retrieve tax information using a direct data exchange from the IRS instead of the previous IRS Data Retrieval Tool.
The FAFSA® is now open for the 2024-2025 academic year!
This is a crucial step in securing financial assistance for your education, and we encourage you to complete the application as soon as possible.
The priority deadline for students to complete the application has been extended to May 6, 2024. It’s essential to submit your application before that deadline to ensure your eligibility for aid. Some financial aid programs operate on a first-come, first-served basis.
Use school code 003623.
FAFSA® Completion Date
The priority deadline for all current St. Mary’s undergraduate students to submit a 2024-2025 FAFSA® has been extended to May 6, 2024.
The Office of Financial Assistance at St. Mary’s University has begun receiving FAFSA® submissions and will contact you if you need to submit a correction.
When can I expect my financial aid award offer?
Financial aid award offers will be sent to new students on or after the following dates:
- New undergraduate and graduate students: beginning April 29, 2024
- New law students: beginning May 6, 2024
Financial aid award offers will be sent to current students on or after the following dates:
- Current undergraduate and graduate students: beginning July 1, 2024
- Current law students: beginning July 15, 2024
Documents Needed
Before you start the application, gather all necessary documents. This will streamline the application process and help ensure accuracy. Documents needed may include:
- Your FSA ID*
- Parents’ (and/or spouse’s) FSA ID*
- 2022 Tax Returns:
- Parents’ 2022 1040 Tax Return Form with schedules 1,2 and 3 (if applicable)
- Your (student’s) 2022 Tax Return with Schedules 1, 2 and 3 (if applicable)
- W2 forms for parent(s) and yourself, if you worked in 2022
- Financial assets information, such as current statements for checking, savings and investment accounts
- Child support payments received in 2023
*FSA IDs must be created at least three days before you submit. All contributors will need an FSA ID. Contributors are individuals, such as a parent or spouse, who may be required to provide information on an applicant’s FAFSA®, depending on the applicant’s dependency or marital status.
New Terminology
The Expected Family Contribution (EFC) is no longer used. The Student Aid Index (SAI) will take the place of the EFC. The new formula removes the number of family members in college from the calculation, allows a minimum SAI of -$1,500, and implements a separate eligibility determination criterion for the Federal Pell Grant.
The new FAFSA® introduces the term contributor. Contributors are individuals, such as a parent or spouse, who may be required to provide information on an applicant’s FAFSA® depending on the applicant’s dependency or marital status. Applicants and other contributors must consent to the use of their Federal Tax Information (FTI) of their FAFSA® or will risk not being awarded aid.
FSA ID Information
Start planning for the 2024-2025 FAFSA® by getting an FSA ID. An FSA ID is an account and password that gives you access to the Federal Student Aid’s online system and serves as your electronic signature.
- Each contributor must have an FSA ID.
- To set up an FSA ID, each contributor will need the items below:
- Social Security Number (SSN)
- Email address for each person
- Each individual must have their own, individual email
- When can contributors sign up for an FSA ID?
- If you have an SSN, you can sign up now
- Parents without an SSN can sign up by December 31, 2023
- If you already have an FSA ID, there’s no need to sign up again.
- Start at studentaid.gov and select Create Account from the top right corner of the page.
- Click Get Started.
- Check I don’t have a Social Security Number and click Continue.
- A warning will appear; click Continue Without SSN.
- Follow the instructions to create a username and password and click Continue.
- Note, an email address is required and the email address cannot be associated with another FSA ID account. (For example, you cannot use the same email address for the child and parent, or for both parents.)
- Enter address information and click Continue.
- Note, a mailing address is required for anyone without an SSN.
- Foreign phone numbers are not accepted, so leave this field blank if you have a foreign phone number.
- Follow the instructions and click Continue.
- Follow the instructions to choose challenge questions you will be asked to answer if you forget your username or password and click Continue.
- Review information, and edit incorrect information if necessary.
- Check the box indicating you agree to FSA’s Terms and Conditions, then click Continue.
- Follow the instructions and click Continue.
- Answer knowledge-based identity verification questions and click Submit.
- Note, if any identity verification questions are answered incorrectly (and only in this case), you will see an error message indicating your account was created. You still need to contact the Federal Student Aid Information Center (FSAIC) to verify your identity before you can use the FSA ID to complete the FAFSA® as an applicant or contributor (parent or spouse).
- You will be asked by email to submit the following documentation to the email address provided.
- ONE of the following: U.S. driver’s license, U.S. state/city ID card or foreign passport
- OR a utility bill (with name and address matching what was entered in the FSA ID request process), plus one of the following: municipal ID card, community ID, consular ID card/matricula consular
- Identity verification will be confirmed within 1-3 days by email, after which the FSA ID will be created and you will be ready to complete the FAFSA® as a student applicant or contributor.
How can I create an FSA ID without a Social Security Number (SSN)?
After You’ve Completed Your 2024-2025 FAFSA®
As of mid-March, the St. Mary’s University Office of Financial Assistance has begun receiving the initial batches of 2024-2025 FAFSA® submissions from the U.S. Department of Education. Below is some information on how to check the status of your FAFSA® form and other FAQs.
- Log in to your www.StudentAid.gov account using your username and password (FSAID).
- Navigate to your account Dashboard.
- Select 2024-25 FAFSA® Form from the My Activity tab. The application status will be one of the following:
- Draft: Your section of the FAFSA ®form is incomplete.
- In Progress: You provided your consent, approval and signature to your section of the FAFSA® form, but the FAFSA® form has not been submitted yet.
- In Review: You have submitted your form and your application is still processing.
- Processed: Your application was processed successfully. No further action is needed.
- Action Required: Your application requires further action from you or your contributor(s). In some cases, you may need to contact your college to resolve the issue.
- Closed: Your FAFSA® form was never submitted and can no longer be submitted because the federal FAFSA® deadline passed.
How do I check the status of my 2024-2025 FAFSA® Form?
When you submit your FAFSA® form, the University does not immediately receive it. Your submission is held by the Department of Education until it has been processed by their systems.
When your FAFSA® form shows Processed or Action Required, your FAFSA® has been sent to your listed schools. You can contact the Office of Financial Assistance to find out if we have received it. The Financial Assistance team cannot access your FAFSA® unless you show one of these statuses.
The Office of Financial Assistance will begin importing FAFSA® forms into our internal system beginning Monday, April 1.
When will St. Mary’s University receive my FAFSA® Form?
Corrections can now be made to your FAFSA® form if necessary. You may see the status Action Required if corrections are needed.
Action Required: You are missing your consent and approval or signature, or the FAFSA® form was processed, but a correction is required.
The most common corrections are as follows:
- For new students: Adding St. Mary’s University as a listed school
- Adding a missing signature
- Form is missing a Contributor’s Consent and Approval
- Answer to Direct Unsubsidized Loan Only question was incorrect
Other corrections may be necessary. For more information on how to correct or update your 2024-2025 FAFSA®, visit the How To Correct or Update Your FAFSA® Form page on the Federal Student Aid website.
What if I need to make a correction to my 2024-2025 FAFSA® form?
The Department of Education has a webpage where you can monitor open issues related to the 2024-2025 FAFSA®. Check this page for helpful workarounds and updates.
The Financial Assistance team will continue to share new information as it becomes available on this webpage and via email, mail and Instagram @stmufinaid.
What if I am still encountering issues with submitting my FAFSA® form?
Questions?
For any questions you or your family may have, please don’t hesitate to reach out to the Office of Financial Assistance or the available FAFSA® hotlines.
Office of Financial Assistance
St. Louis Hall, Room 301
210-436-3141
finaid@stmarytx.eduTrellis-Project Success FAFSA® Hotline
1-877-845-9883This is a free service to assist students one-on-one with completing the FAFSA®. Counselors are available by phone Monday through Thursday, from 8 a.m. to 6 p.m., and Friday, 8 a.m. to 5 pm.