The 2024-25 Free Application for Federal Student Aid (FAFSA) has been redesigned under the FAFSA Simplification Act to allow for a better user experience. The new FAFSA application is open, and records are being sent to institutions daily.
If you received a notice from the Department of Education or OU indicating that you or a parent need to make a correction to your FAFSA, you can log in at FAFSA.gov to make corrections now.
OU is processing FAFSA data and awarding aid to students who have a complete file as indicated by the Department of Education. Some files are awaiting corrections or additional information to be sent to the university. Please check one.ou.edu under the Financial Aid section for any missing documents or notices. Contact the SFC at 405-325-9000 or sfc@ou.edu if you have questions about your missing documents.
In the event that the Department of Education determines an adjustment needs to be made to your 2024-2025 Free Application for Federal Student Aid (FAFSA) data and/or Student Aid index (SAI) calculation, your aid package is subject to change. Please watch your OU email and the Financial Aid section of your ONE account at one.ou.edu for potential updates.
A new Financial Aid Notification will be sent to your OU email address if your aid offers change. If you accept federal direct loans and your aid package changes, you will be required to reaccept any loan offers you would like to utilize. Please contact the Student Financial Center if you have any questions at sfc@ou.edu or 405-325-9000.
Significantly fewer questions. The new FAFSA will include less than half of the questions that were previously required.
The Student Aid Index (SAI) will now be the number generated after the FAFSA is completed, and used by the financial aid office to determine financial aid offers.
Contributors to a student’s FAFSA form will include their spouses and stepparents.
If you are a married student, your spouse will now be a contributor on your application.
Dependent students will need all parents within the household to contribute and sign their FAFSA. This includes a student’s parent or stepparent who may not have signed the FAFSA in previous years.
All contributors will obtain their own FSA ID for signing the application and providing consent.
Contributors without an SSN can still apply for an FSA ID.
Each contributor will need their own email address.
Once a contributor is listed on the FAFSA, they have 45 days to provide consent and sign the application. After 45 days, the application will be deleted, and students will start over with a new form.
The federal tax information (FTI) of all contributors on the FAFSA must be directly transferred from the IRS. This is no longer optional. Non-tax filing status, yearly earnings, and amended tax return information will be provided through this process.
Consent and approval to transfer federal tax information from the IRS are required. In order to receive aid, all contributors must provide consent. This includes non-tax filers.
All student FAFSA filers will have access to a studentaid.gov account where they can review the status of their application and contributor progress. Students can now designate up to 20 schools to which they want their FAFSA details to be sent.
Families are required to submit the value of small businesses (regardless of the number of employees) and family farms.
Financial information will be required from the parent(s) who provided the most financial support to the student in the previous twelve months. The FAFSA will contain a parent/contributor wizard to help students determine which parent(s) to include.
Student Aid Index (SAI) replaces Expected Family Contribution (EFC). Financial need is still calculated using this number. Cost of attendance – SAI = Financial Need
FAFSA Submission Summary replaces Student Aid Report (SAR)
Federal Tax Information (FTI)
FUTURE Act Direct Data Exchange (FADDX) replaces IRS Data Retrieval Tool (IRS DRT)
