New Changes to Financial Aid
Federal and Texas Financial Aid Applications
There are several financial aid changes for the upcoming 2024-25 aid year which will impact both the Free Application for Federal Student Aid (FAFSA) and Texas Application for State Financial Aid (TASFA). The University of Texas at Austin remains committed to offering high-quality, affordable education to our students. You can find out more information below on what’s changing. We will continue to share new updates on this webpage as more information becomes available.
UPDATE: The 2024-2025 online TASFA is now available on the Texas Higher Education Coordinating Board TASFA website. While the online TASFA is the preferred method of applying, the paper TASFA is also available and can be submitted to Texas One Stop via email or in person.
Texas One Stop and Texas Financial Wellness are hosting a series of virtual and in person workshops to provide one-on-one FAFSA support to all Longhorns, including guardians and family members. Click the button below to register for an upcoming workshop!
Federal Student Aid (FAFSA):
- There are fewer questions for students to answer on the application.
- The application will now calculate a Student Aid Index (SAI) instead of the Expected Family Contribution (EFC). Students with the highest need may see a negative number.
- Students will need to consent to provide their Federal Tax Information (FTI) via a direct data share with the IRS. All contributors, including parents, step-parents and/or student spouses, must provide FTI consent regardless of tax filing status.
- Students and parents (if applicable) will need an FSA ID to apply for federal student aid. Create your FSA ID to start your application.
- The Student Aid Report (SAR) will now be called the FAFSA Submission Summary (FSS).
What can I do now?
- Didn’t submit a 2023–24 FAFSA form? Make sure to create your StudentAid.gov account—and remember your username and password so you can access and submit the 2024–25 FAFSA form.
- Find out if your parent(s) or spouse will need to be contributors (contribute their info on your FAFSA form). Watch the 2024-25 FAFSA Contributor webinar for more information.
- If your parent(s) or spouse will need to contribute to your form, each contributor will need to create their own StudentAid.gov account. Even if a contributor doesn’t have a Social Security number, they will be able to create an account.
- Watch the “Preparing for the FAFSA Form” playlist to understand what information and documents you’ll need to fill out the FAFSA form.
Texas Student Aid (TASFA):
What can I do now?
- Students who are classified as Texas residents and cannot apply for federal financial aid using the FAFSA are encouraged to complete the TASFA .
- The 2024-2025 online TASFA is now available on the Texas Higher Education Coordinating Board TASFA website. While the online TASFA is the preferred method of applying, the paper TASFA is also available and can be submitted to Texas One Stop via email or in person.
Key dates and deadlines:
The financial aid applications will now open later. We’ve included important dates below, but these are subject to change. We will update this chart as we learn more information.
|December 31, 2023
|FAFSA application opens
|February 28, 2024
|TASFA Application Opens
|March 15, 2024
|Continuing and Transfer Student Scholarship Application Deadline
|Department of Education will begin to send universities FAFSA files
|UT Austin will being to process FAFSA files
|UT Austin will send financial aid offers to students through the My Financial Aid portal
December 31, 2023FAFSA application opens
February 28, 2024TASFA Application Opens
March 15, 2024Continuing and Transfer Student Scholarship Application Deadline
Mid-MarchDepartment of Education will begin to send universities FAFSA files
Mid-AprilUT Austin will being to process FAFSA files
Late AprilUT Austin will send financial aid offers to students through the My Financial Aid portal
My Financial Aid System Coming Soon!
Beginning in the 2024-25 academic year, students will have a new way to review and accept financial aid. An enhanced system titled My Financial Aid will replace UT’s existing financial aid portal, Check Aid Status Here (CASH).
Where do I find the Free Application for Federal Student Aid (FAFSA) form?
What information should I have on hand?
Here’s what you should have readily available:
- Your date of birth, Social Security number, physical address and email address.
- Your parents’ Social Security numbers (if you are a dependent student).
- Your driver’s license number (if you have one).
- Your Alien Registration number (if you are not a U.S. citizen).
- Tax returns for you, your spouse (if you’re married) or your parents (if you’re a dependent student).
- Records of child support received for you or your parents (if you’re a dependent student).
- Current balances of cash, savings and checking accounts.
- Net worth of investments, businesses and farms.
Do my parents need to fill out the form?
Yes, if you are a dependent. Dependent students filling out the form on their own will be prompted to fill in their parents’ full names, Social Security numbers, dates of birth and email addresses so that their parents can fill in their information separately. If the student’s parents are divorced or separated, the parent the student lived with more during the last year will need to fill out their portion of the FAFSA. If the student spent equal time with each parent, the one who provides most financial support should fill out the FAFSA.
For more information about parents filling out the FAFSA, visit http://studentaid.gov/h/apply-for-aid/fafsa
What is the deadline to apply?
We encourage all students to submit their FAFSA as early as possible.
June 30 is the last day to apply for financial aid for the upcoming school year.
What should I expect after I submit my FAFSA form?
Once your FAFSA is submitted, the Office of Federal Student Aid will review your information and share it with the schools you listed in the first half of March. You will receive an email indicating that your FAFSA has been processed and sent to your listed colleges. You can log in to your FSA account and check to see if you need to take any further action with your form.
Students will also receive a FAFSA Submission Summary, which includes a Student Aid Index. The Student Aid Index determines how much financial aid you could receive. Schools will use this number to create your financial aid offer. Your college may contact you if they need additional documentation or information.
Due to the delayed rollout of the 2024-25 FAFSA, schools will not receive the FAFSA information until March.
What should I expect once UT has received my FAFSA?
After we have received your FAFSA, students should:
- Check their My Financial Aid portal (coming soon!) for any notifications and outstanding requirements
- Grant Proxy access (if needed)
- Review financial aid offer (accept/modify offer)
What if my parents do not have a social security number?
Unfortunately, parents who do not have a valid SSN cannot create an FSA ID at this time. FSA announced a nine-step workaround for this issue; however, this does not allow students affected by this issue to submit a completed application. UT Austin encourages students to wait to submit their FAFSA until this issue is corrected in March. Based on current information, we believe that gives students a better chance of getting their FAFSA processed sooner than later.
Do both of my parents need to create an FSA ID?
Both parents do not need to create an FSA ID if they filed jointly in their U.S. tax returns. However, parents (married/re-married) who filed their taxes separately will need to create an FSA ID individually. Students who have separated/divorced parents will also need the parent who provides the most financial support to create an FSA ID.