2024-2025 FAFSA ANNOUNCEMENT
On January 30, The U.S. Department of Education announced a timeline update for the 2024-25 FAFSA. Due to the Department of Education’s need to adjust calculations in the FAFSA formula to account for inflation, all submitted FAFSAs nationwide have been placed on hold.
What does this mean? This update allows more students to benefit from aid, more accurate financial aid offers, and ensures that all students can access the maximum financial aid they are eligible for. This adjustment will take time; therefore, the government will withhold FAFSA data from all higher education institutions until mid-March at the earliest.
We understand how this news can be frustrating in your decision making process as cost is an important factor in choosing the right institution for you. Know that The University of Baltimore financial aid team is working hard to prepare as much as possible for the release and timely processing of FAFSA data. Our goal is to provide you with an accurate financial aid offer as soon as possible.
Note that all higher education institutions in the U.S. are experiencing this delay and it impacts all students who are waiting to receive financial aid for the 2024-2025 academic year. We must be patient until FAFSA data is released from the Department of Education.
If you have not yet filed the FAFSA, we strongly encourage you to do so. Once UBalt has access to your data, we will work as quickly as we can to provide you with a financial aid offer.
If you have already filed the FAFSA, we encourage you to visit the Department of Education website for FAFSA processing updates. UBalt will continue to provide updates as we receive them.
In the meantime, our admission and financial aid teams are here to support you. If you would like to schedule a campus tour or attend an upcoming financial aid event to learn more information, select a date and register today!
If you have any questions about attending The University of Baltimore, please contact the Office of Admission at 410.837.4777 or emailing email@example.com . You may also connect with your personal admission counselor to schedule a one-on-one appointment.
Due to the passing of the
Free Application for Federal Student Aid (FAFSA)
Simplification Act, the FAFSA is changing for the 2024-2025 aid year to make it easier for students and their families to submit. The FAFSA is now available.
There will be fewer questions on the FAFSA to answer, and fewer requirements overall. Additionally, tax information will be retrieved through a direct data exchange with the IRS. The U.S. Department of Education implemented these changes to expand federal aid eligibility and simplify the FAFSA process.
What Changes To Expect
- The need analysis formula to determine financial aid, formerly known as the Expected Family Contribution (EFC), will now be referred to as the Student Aid Index (SAI) .
- The Student Aid Report (SAR) will now be referred to as the FAFSA Submission Summary. This is the summary submission document you receive after completing the FAFSA.
- The FAFSA is introducing the new term contributor , which refers to anyone who is required to provide information on a student’s FAFSA form, including the student, the student’s spouse, a biological or adopted parent, or the parent’s spouse.
- A contributor refers to anyone who is required to provide information on a student’s FAFSA, including the student, the student’s spouse, a biological or adopted parent, or the parent’s spouse. Being a contributor does not imply responsibility for the student’s college costs.
- The student will need the contributor’s name, date of birth, Social Security Number (SSN), and email address to invite them to complete the required portion of their FAFSA.
- Contributors will need to provide personal and financial information on their section of the student’s FAFSA. They will only be able to see and complete their own specific sections of the FAFSA.
- All Contributors must provide consent to have their federal tax information transferred directly from the IRS to the FAFSA. If consent is not provided by all parties, the student will not be eligible for federal financial aid . In previous years, transferring IRS data was optional; moving forward, it’s required.
- If your parents are divorced or separated, the contributing parent(s) is the parent (and their spouse, if remarried) who provided the greater portion of your financial support during the 12 months immediately prior to filing the FAFSA. It is not automatically the parent you primarily lived with during the past 12 months.
- The number of people in your family size will be automatically pulled in from your federal tax information.
- The number of family members in college will still be asked on the FAFSA, but it will be excluded from the federal, state, and institutional financial aid calculation.
How to Prepare
Create an FSA ID Early!
- Create an FSA ID on the Federal Student Aid website and assist contributors, such as your parent(s) or spouse, in creating 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.
- Processing your FSA ID can take up to 5 business days, so we recommend creating it at least a week before you start your FAFSA.
Utilize the Student Aid Estimator
- Use the Federal Student Aid Estimator to find out how much federal student aid you may be eligible for starting with the 2024–25 award year. This tool estimates the Student Aid Index (SAI) for 2024–25 award year.
Complete the FAFSA as soon as it opens in December.
- Reminder: the FAFSA completion deadline to be considered for Maryland State Scholarships is still March 1 st ! Complete the FAFSA early.