2024-2025 FAFSA Updates
The FAFSA Simplification Act represents a significant overhaul to the process used to award student aid. The 2024-2025 FAFSA is now open to complete, and we encourage you to submit this important form.
Please be advised that due to significant processing delays by the Department of Education, Benedictine College will not receive FAFSA data until mid-March. This means we are unable to prepare official financial aid offers until that time. Beginning March 15, we anticipate issuing offer letters within two weeks of receiving a FAFSA, provided all necessary information has been received for the student. Please keep in mind that these delays do not affect your academic merit scholarship, for which you received notice of at the time of your Admission acceptance. Thank you for your understanding and patience.
FAQ'S ABOUT THE NEW FAFSA
DOES THE NEW FAFSA AFFECT MY SCHOLARSHIP TO BENEDICTINE?
No, the current FAFSA processing delay by the US Dept. of Education does not affect your academic merit scholarship, athletic scholarship, or any other Benedictine scholarship you have been offered throughout the application process. We are pleased to report that all Benedictine processes are continuing as usual – including Admitted Student Experience weekends, SOAR weekends, and Freshman Enrollment. Due to the atypical financial aid year, enrollment deposits are refundable through June 1, 2024.
WHAT IS THE STUDENT AID INDEX (SAI)?
The Student Aid Index (SAI), formerly referred to as the Expected Family Contribution (EFC), is an eligibility index figure generated from the information provided on the FAFSA that the Office of Financial Aid uses to determine each student’s eligibility for financial aid programs (e.g., grants, scholarships, loans, or work study). The SAI is calculated by the Department of Education and provided to the institution(s) selected by the applicant. It is not to be interpreted as an amount that the student/family is anticipated to pay out of pocket for the student’s college expenses.
WHAT IS THE FADDX?
Beginning with 2024-2025, income information for the FAFSA completion process will be imported directly from the IRS using the Futures Act Direct Data Exchange (FADDX). This process was formerly referred to as the IRS Data Retrieval Tool (DRT). This process can only be completed by the student and parents (contributors) providing consent for the US Department of Education to retrieve the data from the student’s and parents’ (contributors’) submitted 2022 Federal Income Tax Return with the IRS.
WHAT IF MY FAMILY HAS ENCOUNTERED SPECIAL CIRCUMSTANCES NOT COVERED IN THE FAFSA?
Families who feel that something has been unaccounted for in the standard questions of the FAFSA are able to complete Benedictine’s Special Circumstance process via the Office of Financial Aid.
SPECIAL CIRCUMSTANCES
The Special Circumstances process allows a family to request consideration from Benedictine College for unique financial circumstances that are not accounted for on the Free Application for Federal Student Aid (FAFSA). With proper documentation, Benedictine College is permitted to evaluate these submissions to determine if the circumstances warrant an adjustment to the Student Aid Index. Any qualified adjustment to a student’s SAI may result in a change in their eligibility to access federal/state/institutional aid programs.
While we are unable to guarantee that this process will result in any change in financial aid, it does ensure that we have fully factored your circumstances to provide the most comprehensive financial aid offering your student is eligible to receive.
Examples of variables that may be considered include:
- Excessive educational costs due to having multiple dependents in college
- Private elementary, secondary, or home school tuition expenses
- Medical or dental expenses not covered by insurance
- A change in income due to under or unemployment
- A one-time temporary increase in yearly income
- Payments on PLUS loans
It is important to note that students/families must initiate this request for a Special Circumstance process and have a completed FAFSA on file. Once initiated, you will be asked to complete the FAFSA Verification Worksheet and Special Circumstance Worksheet to provide additional information regarding your request. To begin the Special Circumstance process, please email Tona Stone, Associate Director of Financial Aid, at tstone@benedictine.edu.
HOW CAN I PREPARE?
Benedictine College must have a FAFSA on file for each applicable student to begin the Special Circumstances process; however, we would encourage you to collect the proper documentation necessary to support your case so that upon completion of the form you are prepared to submit documentation immediately, expediting the process.
HOW DO I INITIATE THE SPECIAL CIRCUMSTANCE PROCESS?
To begin the Special Circumstance process, please email Tona Stone, Associate Director of Financial Aid, at tstone@benedictine.edu.
WHERE DO I FIND THE SPECIAL CIRCUMSTANCE FORM FOR 2024-2025?
The Special Circumstances form can be found on the Benedictine College website under the Financial Aid Forms.
WHERE DO I SUBMIT THE SPECIAL CIRCUMSTANCE FORM AND ADDITIONAL DOCUMENTATION?
Once the request has been initiated, students will find all Special Circumstance information in their RavenZone. The checklist on the financial aid screen will indicate he or she needs to “Complete Required Documents”. Upon clicking this link, the student can upload the Special Circumstance form as well as any supporting documentation via a secure portal within RavenZone. These documents will be sent directly to the Office of Financial Aid, who will notify you of any missing or additional items.
WHAT DOCUMENTATION DO I NEED?
Documentation varies greatly by circumstance and by family. Below is a list of examples of documents that may be requested for various situations. Benedictine may request additional information once the Special Circumstances submission is received by the Financial Aid Office.
Parent PLUS Loans Payments in 2022
Please provide payment information indicating the monthly payments made during the 2022 calendar year. Include copy of payment stubs or lender account activity.
Private School Tuition
Please list the students, schools, and amount paid out of pocket for each child who is/was enrolled at a private elementary, secondary, or homeschool in 2022. Include an itemized statement from the school, parish, or homeschool expenses. Only tuition costs will be considered.
Additional Students Attending College
If the family household has more than one student enrolled in college for the 2024-2025 academic year, please list each additional student (NOTincluding the student on the application planning to attend Benedictine) and the institution they are/will be attending. Include an itemized copy of each student’s financial aid offer letter from that institution, as well as an itemized listing of costs billed by the college for tuition. The net difference between the tuition costs and gift aid on the offer letter will be taken into considerations. Fees, housing, and food costs will not be considered.
Significant Medical or Dental Expenses
If family household has paid medical or dental expenses “out of pocket” in 2022 not covered by insurance or reimbursement, list amount from Schedule A-Itemized Deductions, Line 1 from the parents’ 2022 Federal Income Tax Return. Include a copy of Schedule A or itemized statement from the applicable healthcare provider(s). Insurance premiums and Cafeteria 125 plans or prepaid medical accounts do not qualify for this consideration.
Income Changes Due to Change of Employment
If the student or their contributors have recently become unemployed, or there has been a change in income, provide a brief description of the situation. Submit a copy of the separation agreement, the contributor’s or student’s most recent paystubs showing year-to-date earnings, and a current paystub from a new job.
Caretakers
If the family household contributes essential financial support to persons unable to be self-sufficient, including parents in extended care homes or unemployed adult children, provide a brief explanation of the situation and provide annual costs associated with the situation as well as documentation of such expenses for 2024.
Increase in Yearly Income
For families having experienced a one-time bump or temporary increase in the family’s 2022 income (capital gains, bonus, gaming winnings, stock options, IRA withdrawal, etc.) that will not be considered renewable, provide a brief explanation as well as documentation (e.g., pay stub, W-2, etc.) associated with the amount of such a gain.
HOW LONG WILL IT TAKE FOR ME TO GET THE RESULTS FROM MY SUBMISSION?
Upon confirmation by the Financial Aid Office that all required/requested documentation has been received, the processing of received submissions will begin. At that time, the Financial Aid Office will have the submission reviewed and processed within 60 days. Upon completion of the review of each submission, the student and/or parent contributor will be notified that the review has been completed, along with any resulting changes to the student’s aid package (if applicable).Your patience is appreciated.
