The notoriously difficult form might get a little bit easier.
Some of those changes are now taking effect for this year’s FAFSA, which opened Oct. 1, and which students will want to fill out by June 30, 2023 for the 2023-24 school year.
The bill replaces the current Expected Family Contribution with a Student Aid Index . The name change is meant to reflect the calculation as a determination of aid eligibility rather than an expectation of what a family can afford to pay for college. An applicant’s SAI can be as low as -$1,500 . The bill makes changes to the “income protection allowance” for both students and parents and protects a greater percentage of earned income. Ideally, working students and families will now receive more aid.
The bill eases the financial aid application process for students formerly in foster care and students experiencing homelessness.
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