FAFSA Overview

As you conclude the fall semester and prepare for winter break, I want to inform you of some important financial aid changes that will happen for the 2024-25 academic year.

The FAFSA Simplification Act was put into law in 2021. To learn more about the act you can visit our website. Changes of this magnitude have not occurred in over 40 years, so I want to make sure to keep you updated as the new process rolls out.

While the FAFSA has traditionally opened on Oct. 1, due to all the new developments, the FAFSA is expected to be released in December this year. The exact date has yet to be published by the Department of Education, but don't worry - the Financial Aid office will notify you as soon as it's made available. We recommend that you prepare to complete and submit the 2024-25 FAFSA as early as possible in January. If your parents are involved in financially supporting your education at McDaniel, I encourage you to loop them in now, so they are also fully aware of changes.

The FAFSA changes have resulted in the Department of Education establishing new calculation metrics to determine students' financial need. It's very important to understand how the changes in the federal methodology may impact your individual financial situation because it could result in reductions in need-based grants, including your McDaniel Grant. Examples of how it could affect need-based grants are available on the McDaniel website.

The college's goal is to ensure that the total amount of financial aid (federal, state, and institutional) is maintained for all students, with priority given to those who complete the FAFSA prior to March 1, the college's preferred FAFSA deadline.

WHAT SHOULD YOU DO PRIOR TO THE FAFSA RELEASE DATE?

1. Go to https://studentaid.gov/fsa-id/sign-in/landing and confirm that you are able to log in using your current FSA ID.
2. Inform your parent(s) or contributor(s) that they should also log in to the Student Aid website to confirm that they are able to log in using their FSA ID, which is different from yours.
3. If a parent or contributor does not have an FSA ID, they can and should create it as soon as possible at https://studentaid.gov/fsa-id/create-account/launch.

My goal is to make sure that you are provided with all that you need to prepare for and complete the new FAFSA. You can expect to hear from the Financial Aid Office as new information becomes available. If you have any questions regarding this email, don't hesitate to stop by the office Monday through Friday 9 a.m. - 4:30 p.m. or reach out at 410-857-2233 to connect with your financial aid specialist.

Dear Family of Student,

While students are concluding their fall semester and preparing for winter break, I want to inform you of some important financial aid changes that will happen for the 2024-25 academic year. Your student received an email communication on Nov. 1 with this information.

The FAFSA Simplification Act was put into law in 2021. To learn more about the act, you can visit our website. Changes of this magnitude have not occurred in over 40 years, so I want to make sure that your family is updated as the new process rolls out.
While the Free Application for Federal Student Aid (FAFSA) has traditionally opened on Oct. 1, due to the new developments, the FAFSA is expected to be released in December this year. The exact date has yet to be published by the Department of Education, but don’t worry — your student will be notified as soon as it’s made available. I recommend that your family is prepared to complete and submit the 2024-25 FAFSA as early as possible in January.

The FAFSA changes have resulted in the Department of Education establishing new calculation metrics to determine students’ financial need. It’s very important to understand how the changes in the federal methodology may impact your family’s financial situation, because it could result in reductions in need-based grants, including the McDaniel Grant. Examples of how it could affect need-based grants are available on the McDaniel website.

As much as is possible, McDaniel will seek to ensure that the total amount of need-based aid (including federal, state, and institutional grants) is maintained for students who submit their FAFSA by the March 1 priority deadline.

WHAT SHOULD YOU DO PRIOR TO THE FAFSA RELEASE DATE?
1. Have your student go to studentaid.gov/fsa-id/sign-in/landing and confirm that they are able to log in using their current FSA ID.
2. As the parent or contributor, you should also go to the Federal Student Aid website to confirm that you are able to log in using your FSA ID, which is different from your student’s. If you are married, your spouse is also required to have an FSA ID.
3. If you or your spouse do not have an FSA ID, you should create it as soon as possible at studentaid.gov/fsa-id/create-account/launch.

My goal is to make sure that your family is provided with all that you need to prepare for and complete the new FAFSA. Students can expect to hear from us as new information becomes available, and you’ll find all communications about the new FAFSA on our FAFSA Simplification webpage at www.mcdaniel.edu/FAFSA.

I’ll also be hosting a virtual Zoom session on the new FAFSA for students and families on Dec. 13 at 7 p.m. I hope that you are able to attend. The meeting ID is: 979 8061 5291. An email will be sent to students, and a reminder post will be on the McDaniel Parents and Families Facebook group as we get closer to the event.
If you have any questions regarding this letter, don’t hesitate to reach out to your financial aid specialist at 410-857-2233, Monday through Friday, 9 a.m. - 4:30 p.m.

Thank you,

Kemia Himon
Director of Financial Aid

Thank you for considering McDaniel as a college option! We understand that financing your education is important, and we wanted to provide you with some important financial aid information for the 2024-25 academic year. The FAFSA (Free Application for Federal Student Aid) is changing! 

New federal legislation, called the FAFSA Simplification Act, is being implemented and, due to this significant overhaul (it’s been 40 years since something like this was done!), this year will be different for all families when it comes to your financial aid awarding process. Completing the 2024-25 FAFSA will potentially unlock additional grant dollars to help with your costs beyond those you may receive through scholarship consideration. For most students, the FAFSA will require you and your parent(s)/guardian(s) to provide specific information, so please make time in early January to sit down and complete the FAFSA together. 

Once you submit your 2024-25 FAFSA, your information will be sent to the colleges you have identified in late January. We anticipate that financial aid offers will be mailed to your home mid-March through early April. Since that’s a long time between now and then, let’s be proactive while we wait! 

WHAT SHOULD YOU DO PRIOR TO THE FAFSA RELEASE DATE? 

1. Create your FSA ID https://studentaid.gov/fsa-id/create-account/launch. 
    
2. Inform your parent(s)/guardian(s) that they should create their own FSA ID as soon as possible at https://studentaid.gov/fsa-id/create-account/launch.
   • Note: Students and parent(s)/guardian(s) will need to have different, unique email addresses when creating their FSA IDs. 
      
3. Make sure your social security number was provided on your college application. This is required for colleges to be able to import your student aid information. If you overlooked this, reach out to each college individually to find out how to get it added. 
    
4. Maryland residents ONLY: For state scholarship and grant consideration, students can create their MDCAPS portal account. Go to https://mdcaps.mhec.state.md.us to get set up. 

Our goal is to make sure that we provide you with all that you need to prepare for and complete the 2024-25 FAFSA. You'll be receiving a postcard in the mail with this information as well. If you have any questions, don’t hesitate to reach out to the Financial Aid Office Monday through Friday 8:30 a.m. - 4:30 p.m. at 410-857-2233 or finaid@mcdaniel.edu to connect with your financial aid specialist. 

Our best, 

McDaniel College Financial Aid Team 

FAFSA Postcard

The release of the 2024-2025 FAFSA application being delayed until December 2023 has caused significant impacts on the overall timeline for processing FAFSA applications and providing financial aid packages to students. The timeline below is anticipated for the 2024-2025 aid year; we expect to return to the normal timeline for the 2025-2026 aid year. Though the FAFSA will be released by December 31st, the federal government has indicated that they will not send FAFSA data to schools until January, which will delay awarding. McDaniel is committed to comprehensive system testing to minimize errors in initial awards but please be aware that awards are subject to change if the Department of Education sends revised FAFSA data.

The Financial Aid leadership team will be hosting a virtual session to discuss the upcoming changes to the FAFSA. Current students and parents of current students, please join us on December 13th at 7:00 pm EST. Zoom meeting ID : 979 8061 5291

McDaniel College
Financial Aid Office
2 College Hill
Westminster, MD 21157-4390
Phone: 410-857-2233
Fax: 410-386-4608
finaid@mcdaniel.edu

Expected Family Contribution (EFC) is being replaced with the Student Aid Index (SAI), which is the result of a processed FAFSA and is used for packaging financial aid. Things to note on the Student Aid Index (SAI) for 2024-25:

• Two New Calculations: Separate calculations are now utilized for determining SAI and Pell Grant eligibility, with new data elements being used in each formula.
• Multiple Family Members in College: Having multiple family members in college is no longer factored into the calculation of the SAI.
• Farm and Small Business Reporting Requirements: Details such as net worth of farms (excluding primary residences) and small businesses are now required to be reported.
• Asset Information: There are new rules to determine who is exempt from providing asset information. These rules are based on AGI, tax filing status, and if they are a recipient of a means-tested federal benefit program in the prior two calendar years (2022 or 2023).
• No Alternative SAI: The SAI for a student will be the same if enrolled for fall only or for the entire year. There is no change to the SAI if enrolled for less than nine months.

Students will now be considered for one of three types of Pell Grants: maximum, minimum, or a calculated Pell amount. Eligibility is now based on dependency status, family size, parent’s marital status, income (AGI), a multiplier of the federal poverty level, and enrollment intensity. All students enrolled for at least one credit hour will now receive consideration for a Pell Grant.

• New Provisional Independent Status: If a dependent student indicates they have unusual circumstances that prevent them from providing parent data, they will have their FAFSA processed with a provisional independent status. The student must provide documentation to financial aid administrators to determine if the student should be considered independent.
• Professional Judgements: A new requirement states financial aid offices must publicly share that students have the option to pursue a professional judgment adjustment on a case-by-case basis. There are several occasions when an adjustment may be needed, such as when there are changes to a parent’s income.