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FAFSA Simplification Act

The FAFSA Simplification Act represents a significant overhaul of the processes and systems used to award federal student aid starting with the 2024–25 award year. This includes the Free Application for Federal Student Aid (FAFSA®) form, need analysis, and many policies and procedures. Due to these changes, the 2024-25 FAFSA became available on December 31, 2023 instead of October 1st (for this year only). 

Beginning with the 2024-25 academic year, the Expected Family Contribution (EFC) will be replaced with the Student Aid Index (SAI). 

Pell Grant Eligibility

Pell Grant eligibility will be determined in three steps:

1. Maximum Pell Grant – Applicants may qualify for a Maximum Pell Grant based on family size, adjusted gross income (AGI), and poverty guidelines. Students qualifying for a Maximum Pell Grant will have an SAI between - $1,500 and $0.

2. Student Aid Index (SAI) – Applicants who do not qualify for a Maximum Pell Grant may still qualify if their calculated SAI is less than the maximum Pell Grant award for the award year. The applicant’s Pell Grant award for full-time enrollment will be equal to the maximum Pell Grant for the award year minus SAI. The Pell Grant will be adjusted if the applicant enrolls less than full time, or if the applicant’s COA is less than the calculated Pell Grant award.

3. Minimum Pell Grant – Applicants whose SAI is greater than the maximum Pell Grant award for the award year may still qualify for a Pell Grant, based on family size, AGI, and poverty guidelines.

Other Important Changes:

  • The new SAI formula no longer considers other family members in college that could impact a student’s financial aid eligibility.
  • Family farms and small businesses that were previously excluded in the EFC are now included in the SAI calculation as assets.
  • FAFSA will reduce the number of questions from 108 to 46 making it less daunting for students.
  • The 2024-25 FAFSA will be available in 11 common languages which currently only offers English and Spanish.
  • Previously, FAFSA only allowed students to list up to 10 colleges but now students have the option to list up to 20 colleges.
  • For divorced or separated parents, the new FAFSA will use the information from the parent who contributes the greater financial support. If both parents contribute equally, the highest AGI earning will be used.
  • The IRS Data Retrieval Tool DRT with be replaced with the Direct Data Exchange so that income items will flow to the FAFSA from the IRS. All persons must provide consent.

New for 2024-25 term "Contributor" any individual required to provide consent and approval for federal tax information (FTI) along with their signature on the FAFSA® form, including the student; the student’s spouse; a biological or adoptive parent; or the parent’s spouse (stepparent).

For additional information about FAFSA Simplification and the enhancements to the 2024-25 FAFSA, please review the Department of Education FAFSA Updates webpage.

All federal grants, loans and federal work study programs are based on the information you provide on the Free Application for Federal Student Aid (FAFSA). The FAFSA can be completed online at .

In order to receive federal financial aid, you must complete the FAFSA and submit it for processing. You must apply for financial aid every year. If you have questions about the FAFSA, please contact the Office of Financial.


Completing the FAFSA Online Steps 

  1. You and if applicable a "contributor(s)" will need to create a account to access and fill out the 2024–25 FAFSA form at 
  2. Complete the FAFSA as early as possible in order to meet school and state aid deadlines.  Apply online at Farmingdale State College’s school code is 002858.  The 2024-2025 FAFSA filing targeted deadline is June 1st. (for this year only). 
  3. Once your FAFSA application is processed, you will receive a FAFSA Submission Summary in approximately 3-5 days by mail or e-mail (if you provided an e-mail address). Review the summary and make any changes or corrections and resubmit your FAFSA Submission Summary for reprocessing. Your complete correct summary will contain your Student Aid Index (SAI). This is the number used to determine your Federal student aid eligibility.
  4. If your FAFSA is selected for "verification" by the Department of Education, you will be asked to submit additional documents to the FSC Office of Financial Aid. Be sure to hand the information in as quickly as possible, as your application will be on hold until verification is completed.
  5. Contact the Office of Financial Aid at 934-420-2578 with any questions. Review your award letter and make sure you accept or decline any awards and complete any required loan documents online.


Financial Aid Loan Processing


Federal Direct Loan Borrower Instructions

  1. You must begin by accepting the Federal Direct Loan via OASIS. Access Oasis
  2. Next, borrowers must complete Entrance Counseling. Complete your Entrance Counseling.  "Select Your Student Status to Begin" Login in to start by using the same username and password that you used to sign the FAFSA. Then click on "Complete Entrance Counseling" to begin.
  3. New borrowers must complete a Federal Direct Electronic Master Promissory Note (e-MPN).  Complete your e-MPN. " Choose the Direct Loan MPN you want to preview or complete" Login in to start by using the same username and password that you used to sign the FAFSA.  Then click on "Complete Master Promissory Note" to begin.

Please note: You must use Windows Explorer 7.0 or Firefox 3.6.3 to complete entrance counseling and the e-MPN.  The Department of Education currently does not support Safari.

All steps listed above must be completed in order for your Direct Loan(s) to be applied to your account.

Direct Subsidized Loan

You are eligible for a subsidized Direct Loan if you are in school at least half-time and demonstrate financial need.  With a subsidized Direct Loan, the federal government will pay the interest while you're enrolled at least half-time.

Direct Unsubsidized Loan

Unsubsidized Direct Loans are for students who are enrolled at least half-time and do not demonstrate financial need.  With an unsubsidized Direct Loan, you are responsible for paying the interest during all periods, starting from the date the loan is first disbursed.

Origination Fees

First Disbursed
On or After

Origination Fee

October 1, 2024


October 1, 2023


Interest Rates

1st Disbursed
On or After

And Before

Interest Rate

July 1, 2024 July 1, 2025 6.53%

July 1, 2023

July 1, 2024


UG Annual Loan Limits

Year/Classification Base Amount Additional Unsubsidized Loan Total

Dependent Students










Junior or Senior




Independent Students










Junior or Senior




Aggregate Loan Limits

  • Undergraduate Dependent Students: $31,000 (no more than $23,000 Subsidized Direct Loan)
  • Undergraduate Independent Students: $57,500 (no more than $23,000 Subsidized Direct Loan)
Last Modified 5/15/24