The FAFSA (Free Application for Federal Student Aid) is undergoing major changes for 2024–25. Learn about the upcoming changes and what students and their families should do to prepare.
The FAFSA (Free Application for Federal Student Aid) is an application for federal student financial aid. The CSS Profile application is the application for institutional need-based aid from Colgate.
Domestic students must reapply for financial aid annually by submitting both the FAFSA and the CSS Profile.
Here is what you need to know.
Upcoming 24–25 Changes
Delayed Deadlines
The Department of Education has delayed the release of the 2024–25 FAFSA due to the implementation of the FAFSA changes. It will be released by December 31, 2023. As a result, the priority deadline for returning students to apply for financial aid at Colgate is March 1, 2024.
FAFSA Contributors
A contributor refers to anyone who is required to provide information on a student’s 24–25 FAFSA (such as a parent or step-parent). A student’s or parent’s answers on the FAFSA will determine which contributors (if any) will be required to provide information.
Contributors will receive an email informing them that they’ve been identified as such and will need to log in to the FAFSA using their own Studentaid.gov account to provide the required information on the student’s FAFSA.
Being a contributor does not mean they are financially responsible for the student’s education costs, but it does mean the contributor must provide information on the FAFSA or the application will be incomplete and the student will not be eligible for federal student aid.
Providing Consent
All contributors to the FAFSA must provide consent for the Department of Education to receive federal tax information (or confirmation of non–tax-filing status) directly from the IRS. Consent and approval for the transfer of federal tax information are required to be eligible for federal student aid. If consent is not provided, the FAFSA will be considered incomplete. The direct transfer of IRS data onto the FAFSA will reduce the number of questions and the amount of time it takes to complete the FAFSA.
Changes for Divorced or Separated Parents
Report financial information about the parent who provided the most financial support over the past 12 months, and if the parent has remarried, give information about the stepparent as well. The parent contributing to the 2024–25 FAFSA is not necessarily the parent with whom the student lives; instead, it is the parent who provided the greater financial support.
Siblings in College
The number of siblings in college will no longer be considered in the calculation of federal student aid eligibility; however, the number of siblings under age 24 who are enrolled full-time in programs leading to a first undergraduate degree will still be factored into a student’s eligibility for Colgate Grant.
How To Prepare
Each contributor should have their own Studentaid.gov account and their own verified email address associated with that account. New accounts can be created at studentaid.gov. If you forgot your Username or Password, follow the instructions on studentaid.gov to retrieve your username or to reset your password.
Parent contributors who do not have a social security number must create a Studentaid.gov account after the 2024–25 FAFSA is released in late December.
For dependent students whose parents are divorced/separated, determine which parent will need to contribute to the FAFSA, based on who provided the most financial support to the student over the past 12 months.
Watch the How to Prepare for the 2024–25 FAFSA Form webinar hosted by Federal Student Aid this past October.
Support
The Office of Financial Aid understands the financial aid process can be complex and is here to help. Staff members are available for any questions and can be contacted via email at finaid@colgate.edu or by phone at 315-228-7431.
Resources can also be found on Colgate’s FAFSA Guidance page.
—Meek is assistant director of financial aid at Colgate.