Timeline for Returning Students

STARTING DECEMBER THROUGH APRIL 1 – FILE THE 2024-25 FAFSA

Changes and improvements are coming to the 2024–25 Free Application for Federal Student Aid (FAFSA®) form. As a result, the new form will be available in December 2023, rather than in October as in previous years. Submit the 2024-25 FAFSA at fafsa.gov to be considered for all forms of need-based aid, including federal, state and UE grants; federal loans; and federal work-study. Once your FAFSA has been submitted, please respond immediately to any requests you receive from the Office of Student Financial Services to correct your FAFSA or provide required documents. Submitting by April 15 is mandatory for Indiana residents and highly beneficial for all.

What are some of the FAFSA application changes for 2024-2025?

Student Aid Index (SAI) replaces EFC

Beginning in the 2024-2025 aid year, the Student Aid Index (SAI) will replace the Expected Family Contribution (EFC). The SAI is a number calculated by the information on the 2024-25 FAFSA provided by the student and other contributors. It determines a student’s eligibility for certain types of federal aid such as student loans and Pell grants.

The SAI is used in the below formula to determine a student’s financial need.

  • Cost of Attendance (COA) – Student Aid Index (SAI) – Other Financial Assistance (OFA) = Need

What is the difference between the EFC and SAI?

  • The SAI can be a negative number as low as -1500 to give financial aid administrators more insight into a student’s financial need.
  • The number of family members in college has been removed in the calculation for SAI.
  • Child support received is now counted as assets in the formula calculation for the SAI. Previously, child support received was counted as untaxed income in the calculation for the EFC.
  • Family farms and small businesses will now count as assets in the SAI formula.
Contributors
  • A contributor is any individual that is required to provide their consent and signature for their federal tax information to be included on the FAFSA form.
  • Contributors may include the student, the student’s spouse, the student’s biological or adoptive parent, and the parent’s spouse (stepparent).
  • All contributors will be required to create an FSA ID if they haven’t already. It is recommended that all contributors create their FSA ID as soon as possible to avoid delays.
  • Students will be prompted to list the email addresses of other required contributors such as parents on the FAFSA application.
  • The FAFSA application will not be fully submitted and processed until all contributors have given their consent and signed the FAFSA using their FSA ID.
Consent
  • For the 2024-2025 aid year, contributors will now be required to give their consent for their federal tax information to be included on the 2024-2025 FAFSA.
  • Once consent is given, it cannot be revoked for that aid year.
  • If a contributor refuses to give consent for their federal tax information to be included on the FAFSA, the student will only be eligible for a Federal Direct Unsubsidized Loan.
  • An FSA ID will be required to give consent. Again, it is recommended that all contributors create their FSA ID as soon as possible.
FADDX replaces IRS DRT
  • Beginning with the 2024-2025 FAFSA, the IRS Data Retrieval Tool (IRS DRT) will be replaced by the Future Act Direct Data Exchange (FADDX).
  • Previously, the IRS DRT gave both students and parents the option to import tax return data to their FAFSA instead of manually entering the information on the FAFSA.
  • In 2024-2025, the FADDX authorizes the IRS to provide federal tax information directly to the FAFSA application upon receiving consent from the contributor.
  • Students and parents will no longer be given the option to manually enter their tax information on the FAFSA.

MAY – Satisfactory Academic Progress is reviewed

Satisfactory Academic Progress is reviewed at the end of each semester (fall, spring, and summer) for all students. Read the full policy.

JUNE

Our office actively corresponds via UE email regarding issues affecting the processing of students’ financial aid awards. We encourage students to check their UE email on a regular basis and take the necessary steps to resolve any pending issues.

  • PROXY ACCESS: Due to federal regulations, UE offices may not discuss account details with anyone not granted Proxy Access by the student. Students may opt to grant complete or selected access to their financial information through links found under Parent’s Information in Self-Service.
  • VERIFICATION: If your FAFSA was selected for review by the federal processor, a Verification Worksheet is available in Financial Aid Self-Service. Please complete and return this form and follow instructions for confirming income. Your financial aid will not be renewed until Verification is completed.
  • FINANCIAL AID NOTIFICATION: Students who have completed required actions will receive email notification of availability of their Financial Aid Award. Students view and accept their financial aid through Financial Aid Self-Service.
  • RESPONDING TO FINANCIAL AID AWARD: Through Financial Aid Self-Service, review your Financial Aid Award Letter found under ‘Financial Aid Counseling.’ The following forms of aid listed in your letter under ‘Self-Help Awards’ require you to accept or decline their use through the ‘My Awards’ link:

    • Federal Direct Subsidized/Unsubsidized Loan: The amount offered indicates your maximum eligibility based on the most recent information we have received. You may request a lower amount than offered.
    • Federal Work-Study: This award represents the opportunity to work on campus approximately nine hours per week. If you accept Federal Work-study, you will receive an email during late-spring/early-summer with additional information.
  • FINANCIAL AID AWARD REVISIONS: Your Financial Aid Award may be revised to reflect changes due to the following: updated FAFSA information, addition of financial aid, updated housing or enrollment status. Students are notified via UE email that a revision is viewable through Financial Aid Self-Service.
  • DETERMINE YOUR ESTIMATED NET COST: Please utilize our online Estimated Cost Calculator to assist you in determining your estimated remaining balance based on the aid you accept.

Return to the Financial Services Timeline