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FSA letter to higher education leaders – Get ready for the 2024-25 FAFSA and changes to Federal Student Aid

College Aid Services

Richard Cordray, Chief Operating Officer of Federal Student Aid, sent a letter this week to higher education leaders advising them to be ready for the impact the 2024-25 FASFA will have at their institutions. The letter outlines several potential impacts that the changes could have at institutions that participate in Title IV programs.

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When Is the FAFSA Due? 3 Essential Deadlines

Student Loan Hero

The Free Application for Federal Student Aid (FAFSA) opens on Oct. Instead of waiting until a FAFSA deadline approaches, it’s a better idea to submit this important form as close to Oct. If you apply early, not only will you meet all the various FAFSA deadlines, but you might also get more financial aid for college.

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Jk Jk (The CARES Act Returns)

Moneyman

That’s what’s happening with the Student Eligibility rules for CARES Grant funds. As part of the law, the Higher Education Emergency Relief Fund is created, with $12B of relief funds for students. Just kidding on the “just kidding” So, Philip J. Fry , pay attention. And guess what friends? Great question!!

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If it is on the Internet, it must be true (CARES Act update)

Moneyman

The total amount of funds that the institution will receive or has received from the Department pursuant to the institution’s Certification and Agreement [for] Emergency Financial Aid Grants to Students. The total number of students who have received an Emergency Financial Aid Grant to students under Section 18004(a)(1) of the CARES Act.