FAFSA is now set to open on December 31, 2023

The FAFSA Simplification Act represents a significant overhaul of the processes and systems used to award federal student aid starting with the 2024–25 award year. This includes the Free Application for Federal Student Aid (FAFSA^®) form, need analysis, and many policies and procedures for schools that participate in federal student aid programs.

The law will also affect every state that uses FAFSA data to award state grant aid and every school that participates in the federal student aid programs.

Major changes required by the law include the following:

1. Replacing the Expected Family Contribution (EFC) With the Student Aid Index (SAI)

Starting with the 2024–25 award year, students and families will see a different measure of their ability to pay for college, and they’ll experience a change in the methodology used to determine aid. 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 determination criteria for Federal Pell Grants.

2. Modifications to Family Definitions in FAFSA^® Formulas

Expect changes in how a student’s family size is determined aligning more with what was reported on the student/parents tax returns. 

3. Expanding Access to Federal Pell Grants

• The FAFSA Simplification Act will expand the Federal Pell Grant to more students and will link eligibility to family size and the federal poverty level (starting with the 2024–25 award year).
• Incarcerated students in federal and state penal facilities will regain the ability to receive a Federal Pell Grant (starting with the 2023–24 award year).
• Federal Pell Grant lifetime eligibility will be restored to students whose school closed while they were enrolled or if the school is found to have misled the student (starting with the 2023–24 award year). 

4. Streamlining the FAFSA^® Form
Where possible, the law mandates that we use data received directly from the IRS to calculate Federal Pell Grant eligibility and the SAI. This data exchange has been made possible by the Fostering Undergraduate Talent by Unlocking Resources for Education Act (FUTURE Act), which we’ll implement alongside FAFSA simplification starting with the 2024–25 award year. The FAFSA Simplification Act also removes questions about Selective Service registration and drug convictions. It also adds questions about applicants’ sex, race, and ethnicity, which have no effect on federal student aid eligibility (starting with the 2023–24 award year).

• Scholarships and Financial Aid Information

  Remember to visit the link under For Students for more information!

  • FAFSA- to be eligible for any scholarships or financial aid, parents and students must complete the FAFSA Application.  FAFSA is now set to open on December 31, 2023

    

    Application Deadline November 1

    Application and resources: TNPROMISE GOV

    FAFSA- Complete by April 15, 2024 at FAFSA.GOV

    Apply to Community College or TCAT- Spring 2024

    Complete and submit proof of 8 hours of Community Service- by July 1, 2024
     

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    UT Promise is an undergraduate scholarship program that covers tuition and mandatory fees for qualifying TN residents attending UTK, UTC, UT Martin, UT Memphis, & UT Southern.

    Tennessee HOPE Scholarship awards about $4,000 each year of college to a Tennessee public university.
    -Must graduate with 3.0+ GPA or a 21+ ACT.
    -Must complete FAFSA to apply. 

     

    

     

    College for Tennessee

    
    Scholarship Search Resources:

    
    Merit-Based College Scholarships  Begin your scholarship search with the colleges you want to attend by visiting their scholarships and financial aid web pages.  Many schools offer merit-based scholarships based on GPA/ACT combinations.
    
    Institution Department Scholarships:  Once you apply to a certain college, many have department-based scholarships and other scholarships unique to the college or university.  Be sure to reach out to your admissions counselor about how to apply for these scholarships. 
     

    The Community Foundation of Middle Tennessee

    Scholarships from local businesses and foundations.

     

    Scholarship Search Engines-  There are many.  Be careful not to apply to Survey and No Essay or Quick type scholarships as the majority of these are collecting your information and are not legitimate.  These can be found on just about every search engine for scholarships.  

     

    The Fastweb, College Board, and Niche are just a few of many search engines out there.

    Fastweb

    Niche

    hBig Future Scholarship Search

    • FAFSA Step-by-Step Guide that walks students and families through each question of the FAFSA, including screenshots and explanations and a FAQ page for students with special circumstances. Visit Stand Out College Prep
    • Tennessee Scholarship Directory, a list of 100+ vetted scholarships for students across the region, broken down by month. Visit Stand Out College Tennessee Scholarships