Federal Student Aid Announces December Launch Date for new FAFSA
Federal Student Aid has provided a roadmap to give students, parents, institutions, and FAFSA stakeholders a timeline for the resources and tools that will become available throughout the rest of the year to prepare for these major changes.
The key details for school counselors and students to be aware of are listed below in chronological order:
- May 2023: Pell Grant look-up tables will be released. Educators, students, and parents can use these tables to see the eligibility income/household size thresholds for the new minimum and maximum Pell Grant. These tables will help individuals know what possible federal financial aid is available early in their college planning process.
- July 2023: New FAFSA preview details will be available. Training materials such as screenshots will help educators plan for the new FAFSA format and understand all the significant changes.
- August 2023: The new process for creating an FSA ID will include individuals without a Social Security Number. The new FAFSA requires every individual to have an FSA ID. This new process will expand confirming identity to include other electronic ways such as through TransUnion Credit Bureau.
- Early Fall 2023: The FAFSA estimator will be available to help students determine their federal financial aid eligibility.
- Late Fall 2023: FAFSA Demo Site available for educators and applicants to walk through the application in a practice environment.
- December 2023: The 2024-25 FAFSA will open with the exact release date announced before December.
- December 2023: The Iowa Financial Aid Application will open on the same date as the FAFSA and will be announced before December.
Information submitted by Iowa College Aid and ICAN. The Iowa Association of Independent Colleges & Universities, Iowa College Aid and ICAN will continue to keep Iowa’s FAFSA stakeholders informed. Training sessions, completion events, and helpful FAFSA tools are all currently being developed by ICA and ICAN and will be announced as they become available this summer and Fall 2023.