In the past, federal financial need was calculated by subtracting the expected family contribution (EFC) from the school’s cost of attendance. Moving forward, need will be calculated by subtracting the student aid index (SAI) from cost.

As part of the FAFSA Simplification Act families no longer receive a “discount” for having more than one child in college at the same time. In years past, the federal government took the total Estimated Family Contribution (EFC) and divided it by the number of children you have in college but with the Student Aid Index (SAI) this no longer applies.

Families making less than 175% and single parents making less than 225% of the federal poverty level will see their students receive a maximum Federal Pell Grant award. award. Minimum Pell Grants will be guaranteed to students from households below 275%, 325%, 350%, or 400% of the poverty level, depending on household structure. Pell awards between the maximum and minimum amounts will be determined by SAI.

The FAFSA will reduce the maximum number of questions from 108 to 46. And because the FAFSA on the Web is dynamic, some students won't even be presented with all 46 questions.

Learn more about these changes by visiting the FAFSA Simplification Act website.

Visit FAFSA Website

• Complete the 2024-25 GT Application for Scholarships and Financial Aid (GT App) starting in October 2023.

• Prospective first-year students only:

  • Complete the CSS PROFILE starting in October 2023.

  • Create an FSA ID for yourself and, if applicable, have your parent/guardian create their own FSA ID. Visit the Federal Student Aid website to learn how to create and link these accounts.

• Complete the 2024-25 FAFSA.

• The data exchange is required, and it will make your application process easier, faster, and more accurate.

• Confirm that your and your family’s 2022 tax returns were filed, and copies can be accessed.

Set Up IRS Data Exchange

Students and families may see a different measure of their calculated ability to pay for college, based on the change in the methodology used to determine Federal need and Pell Grant eligibility. The new need analysis formula removes the number of family members in college from the calculation, allows a minimum SAI of -1500, and implements separate eligibility criteria for Federal Pell Grants.