Chicago — Students applying for financial aid for the 2023-2024 school year will see changes on the Free Application for Federal Student Aid (FAFSA).
There will be fewer questions in an effort to make the application more user-friendly; information from both parents won’t be required; and a name change for the Expected Family Contribution (EFC), according to Kiplinger.
The application will go from 100 questions to 36. Among those disappearing are questions that were not applicable to 99% of filers.
The parent who provides the most financial support will be required to fill out the FAFSA. If both parents equally contribute, the one with the highest adjusted gross income (AGI) is required to use their information.
The Expected Family Contribution (EFC) number will be referred to as the Student Aid Index (SAI). The term has often caused because some families have interpreted the name to mean the amount they will pay or the amount they will receive in aid. However, for middle- and high-income families, schools do not offer aid packages that meet 100% of need.
Other changes include the elimination of discounts for having more than one child in college at a time and simplified Pell Grant eligibility.
The changes will appear on the 2022 application and will take effect for the 2023-2024 school year.