Why is FAFSA taking so long 2024?

Originally estimated to arrive by late January, this delay may have been caused by a recent update to the new financial aid formula. The update is slated to bring in an additional $1.8 billion in need-based student aid, but the timing may impact the federal financial aid timeline.

Why is 2024 FAFSA delayed?

The delay is the latest hiccup in the rollout of the new FAFSA form, which was overhauled last year by congressional mandate in order to “simplify” the process and expand Pell eligibility—and which has been plagued by delays and uncertainty since the launch date was pushed to the end of last year.

Why is the FAFSA taking so long to process?

The delays are a result of overhauls made to the aid application system that were mandated by laws passed by Congress in 2019 and 2020.

Is FAFSA first come first serve 2024?

Registration is available on a first-come, first-serve basis and remains open until filled. Information needed in order to complete the 2024-2025 application during the FAFSA and CADAA Completion Workshops: 2022 Student/Parent Tax Information.

Why is FAFSA always so slow?

The new FAFSA platform is more likely to experience slow load times and outages when visitor volumes are high. Try accessing the site late at night or early in the morning when it's not as busy. Contact the FSA Office. If you're still having trouble, ask the Federal Student Aid (FSA) Office for help.

What’s Changed for the 2024–25 FAFSA® Form?

How can I get my FAFSA processed faster?

The FAFSA process is quicker and easier when you have a username and password called an FSA ID. (If your parent is providing information on your FAFSA, he or she will need his or her own FSA ID as well.)

How long should I wait for FAFSA?

If you submitted your 2023–24 FAFSA form online, we'll process your form within three to five days. If you submitted a paper FAFSA form, your form will be processed within 7 to 10 days.

What is the income limit for FAFSA 2024?

What Are the FAFSA Income Limits for 2024? Both students and their parents often think their household income makes them ineligible for financial aid. However, there's no income limit for the FAFSA, and the U.S. Department of Education does not have an income cap for federal financial aid.

Is Pell first come first serve?

Unlike some other grants and scholarships, funding for the Pell Grant does not run out over the course of a year. But experts still encourage students to file the FAFSA early, as other financial aid can be first-come, first-served.

Am I screwed if I miss the FAFSA deadline?

Some states and colleges continue to award aid to FAFSA latecomers, but your chances get much slimmer, and the payout is often lower. If you miss the end-of-June federal deadline, you're no longer eligible to submit that year's FAFSA form. Did we mention you shouldn't miss the deadlines?

Why is my 2024 FAFSA still in review?

There's a new status for students who have successfully submitted their 2024-25 FAFSA. The “In Review” status indicates that the FAFSA will be processed later in January. The U.S. Department of Education has said submitted FAFSAs won't be processed immediately.

What's going on with FAFSA?

The 2024–25 FAFSA^® form will launch in December 2023.

That's right—the FAFSA form will launch by Dec. 31, 2023. The federal deadline to submit the 2024–25 FAFSA form will be June 30, 2025. Some states and colleges have their own deadlines for financial aid, so check for updates at StudentAid.gov/fafsa-deadlines.

Why hasn't my financial aid been processed?

There are a number of reasons why a student's financial aid may not have been disbursed to their account. They include but are not limited to the following: The student failed to submit all requested documents. The student is not actively enrolled in at least one course (Federal Pell Grant disbursements).

Are FAFSA being processed?

For the 2023–24 FAFSA form, the status of your application will be one of the following: Processing: Your application is still processing. It typically takes three to five days, plus one additional business day to be made available to the schools you listed on the form.

Is the 2024-25 FAFSA delayed?

FSA Announces 2024-25 FAFSA Will Go Live By December 31, ISIR Delivery Delayed. Federal Student Aid (FSA) on Wednesday announced that the 2024-25 FAFSA will go live by December 31, 2023, meeting the statutory requirement that the form must be available by January 1.

Is the FAFSA changing in 2024?

Beginning with 2024-25, all persons on the FAFSA must provide consent for the Department of Education to receive tax information or confirmation of non-filing status directly from the IRS.

What is the maximum FAFSA grant?

Under these continuing appropriations, for the 2024-2025 award year, the maximum Pell Grant award remains fixed at $7,395.

Can I use Pell Grant to buy a laptop?

Pell Grant recipients with near-zero EFC may be eligible for Long Term Equipment Loans (LTELs) while they remain actively enrolled at the college - through to graduation. Long Term Equipment Loans can include laptops, desktops and other equipment, as well as specialized software for their discipline where necessary.

How long does it take for FAFSA to process Pell Grant?

Processing Time

It takes approximately two to four weeks for the Federal Student Aid (FSA) program to process a FAFSA and produce a Student Aid Report (SAR). The SAR details the student's financial information and Expected Family Contribution (EFC).

What income is too high for FAFSA?

There is no set income limit for eligibility to qualify for financial aid through. You'll need to fill out the FAFSA every year to see what you qualify for at your college. It's important to make sure you fill out the FAFSA as quickly as possible once it opens for the following school year.

Will I get financial aid if my parents make over $200 K?

But you might be surprised to learn that there are no FAFSA income limits to qualify for aid. For example, a family with a household income of hundreds of thousands of dollars could be helped by other factors in the FAFSA formula, including school costs and the number of siblings also attending school.

Will I get financial aid if my parents make over 100k?

In conclusion, even with a household income of $100,000, it is still possible to receive financial aid. To maximize your chances, ensure that you apply for as many different aid programs and scholarships as possible, both at the college level and from outside sources.

How will I know if my FAFSA was approved?

At any time, students can check the status of their 2024–25 FAFSA form from the “My Activity” page after logging in to StudentAid.gov.

How long does it take FAFSA to process financial aid?

It typically takes 3–5 days to process a 2023–24 FAFSA form that was submitted electronically. The student can check the status of their FAFSA form immediately after submitting it online. The U.S. Department of Education processes a paper FAFSA form within 7–10 days from the date it was mailed.

Does the FAFSA take long?

How long will it take? It takes most people less than one hour to fill out the FAFSA form, including gathering any personal documents and financial information needed to complete it. What do I need?