What are the first 2024 student aid grants I can apply for and in which states?
The FAFSA application process will be opening soon to help students and families making plans for how to pay for college next year like applying for grants.
Students planning to attend college next year and their families have be anxiously awaiting the opening of the Free Application for Federal Student Aid, better known as FAFSA. Normally, the period when applicants can sign-up kicks off 1 October, but this year it was delayed as the US Department of Education has been updating the form and streamlining the process.
FAFSA is now expected to be available 31 December. Initially there will be a soft launch period into January so families are advised to “consider and plan for the possible impact of the soft launch and delays it might create in accessing the form.”
For families concerned that there won’t be enough time, Federal Student Aid says there is no need to rush and that there will be plenty of time to complete the 2024-25 FAFSA. The agency also shared some of the key changes that can be expected when filling out the 2024-25 FAFSA.
Until the 2024-25 FAFSA is open, there is limited information regarding grants. But here are the details that are known at this time.
What are the first 2024 student aid grants I can apply for?
There are four federal grants that students can apply for including Federal Supplemental Educational Opportunity Grants (FSEOG), Iraq and Afghanistan Service Grants, Teacher Education Assistance for College and Higher Education (TEACH) Grants and Federal Pell Grants. Grants, unlike loans, do not need to be paid back except under certain conditions, for example not completing the course that it was awarded for or changing status from full-time to part-time student.
One of the details that Federal Student Aid shared is that Federal Pell Grant eligibility has expanded to more students. This particular grant is awarded solely to undergraduate students who have not earned a bachelor’s, graduate, or professional degree and who display exceptional financial need.
The maximum Pell Grant award amount is updated every year, and for the 2023–24 award year it was $7,395. The 2024–25 award amount will be announced next year. According to the agency, 610,000 new students will be eligible for Federal Pell Grants and 1.5 million students for the full amount.
In which states are the first 2024 student aid grants I can apply for?
Besides federal student aid funding, states offer their own as well. Below are links for each state to find more specific information applicable to each and regarding grants available and deadlines for when you must apply.
Where to send FAFSA applications and deadlines
The application is sent to the Department of Education. It is now mandatory to create an FSA ID to complete the FAFSA process. Doing the it online is the fastest way to sign and have the application processed. You can also print the form-fillable application and mail it or call 1-800-4-FED-AID to request a form to fill out and mail.
The federal deadline to turn in your form is 30 June 2024. It is recommended that you submit your form at the earliest possible date to allow the federal government to consider your case. Deadlines can be earlier in some states and institutions.
The higher education institution must also receive a copy by the last day of enrollment in the 2024-25 school year. This date is likely to pass before the federal deadline. Also borrowers will want to keep in mind that some schools and states have multiple deadlines. Some of the financial aid available from colleges and states is on a first-come, first-served basis.
Information that must be provided when filing out the FAFSA
Besides the basics like your name, birthday, address, and contact information, the FAFSA asks students to provide their citizenship and marital status. You will then be asked questions about the education level of your parents. Some loans and grants are only available to first generation college students.
Then both the student and parent will be required to provide details about their financial situation, starting with much of the same information that they would report when completing their taxes. Both sectors section will ask a student or parent to report if they or their family has been the recipient of a welfare program like Medicaid, Supplemental Security Income, SNAP, or a child nutritional program.
All of this data will help the school’s financial aid staff and the Department of Education to determine the financial need of a student in order to create a student loan package. If you need help filling out the form, the government’s Federal Student Aid website provides a guide.
What is the IRS Data Retrieval Tool?
The IRS Data Retrieval Tool (IRS DRT) makes centralizing all of the information needed to complete your FAFSA easy. The tool can be accessed through StudentAid.gov. The most important feature is that it allows students and parents who submitted a federal tax return to transfer their filing information directly into their FAFSA form.