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FAFSA Simplification Act: A simplified financial aid application process that expands the federal aid eligibility to families in need. |
The 2024-2025 FAFSA Is Now OPEN!
FAFSA Update Regarding Financial Aid Offers for 2024-2025
Despite the various technological and systemic challenges highlighted in the media concerning the 2024-2025 FAFSA, we are pleased to inform you that the Student Financial Services Office has been diligently reviewing processed FAFSAs. As a result, we have commenced sending out Financial Aid Offers to prospective students for the Fall 2024 semester, beginning April 1, 2024.
- SFS will continue sending out Financial Aid Offers for prospective students each Friday
- Returning Rindge students will begin to receive Financial Aid Offers the week of May 6, 2024
- Online and Graduate Students will begin to receive Financial Aid Offers the week of May 6, 2024
SFS will continue to update students and families with any additional information through email. Please pay close attention to and promptly respond to all correspondence from the Student Financial Services Office.
The Consolidated Appropriations Act, enacted on December 27, 2020, brought about significant changes in federal student aid. Within this legislation, amendments were made to the Fostering Undergraduate Talent by Unlocking Resources for Education (FUTURE) Act, and it introduced the FAFSA Simplification Act. These changes represent a comprehensive overhaul of the procedures and mechanisms for awarding federal student aid. In essence, this law simplifies the process of completing and submitting the Free Application for Federal Student Aid (FAFSA®) form, making it more accessible for students and their families while also expanding the availability of federal student aid.
BENEFITS TO STUDENTS AND THEIR FAMILIES
The EFC (Estimated Family Contribution) will be replaced with the SAI (Student Aid Index)
Families and students will encounter a modified assessment of their college affordability and witness a shift in the approach used to calculate financial assistance.
Increased Federal Pell Grant Eligibility
The FAFSA Simplification Act is set to broaden the reach of the Federal Pell Grant program, connecting eligibility with family size and the federal poverty level. This change has the potential to expand the pool of Pell-eligible students at Franklin Pierce University by over 100 individuals while boosting the average award by $600 per recipient.
New Federal Methodology
The updated formula excludes the count of family members attending college from the equation and permits a minimum Student Aid Index (SAI) of negative 1,500. This adjustment aims to provide financial aid administrators with greater clarity when evaluating students facing particularly complex financial circumstances.
Important Dates
- October 2023 - Sign up for your FSA ID
- January 2024 – 2024-2025 FAFSA Open
- March 2024 – Schools will begin to receive FAFSA Data Mid-March
- April 2024 - Financial Aid Offers will begin to go out to Students
Net Price Calculator
This calculator provides an approximation of what a first-year, undergraduate student can expect to pay to attend Franklin Pierce University.
Contact Student Financial Services
Monday-Friday
Lobby Hours: 9:00 a.m.-4:30 p.m.
Phone Hours: 9:30 a.m. - 4:30 p.m.
LiveChat: 9:00 a.m.-4:00 p.m..
