Need-Based Aid

FAFSA^® Simplification for the 2024-25 academic year provides a modernized FAFSA^® application process and a new FAFSA^® calculation to determine eligibility for federal student financial aid.

The new FAFSA^® calculation for 2024-25 may either increase, or in a limited number of circumstances, decrease, each FAFSA^® applicant’s eligibility for federal student financial aid.

Federal Student Aid programs include the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant, Federal Direct Loans, Federal Work Study, and the Federal TEACH Grant.

The 2024-25 FAFSA^® became available to students to complete about three months later than normal (in late December 2023 instead of the normal October 2023 availability).

Rather than relying solely on the FAFSA^® to evaluate students’ eligibility for all need-based aid programs, Wake Forest primarily utilizes the more comprehensive CSS Profile^® to determine eligibility for Wake Forest need-based scholarship assistance and uses the FAFSA^® to determine eligibility for federal student financial aid programs.

The CSS Profile^® uses the standards and principles developed by the College Board to measure a student’s financial need. Unlike the FAFSA^® calculation for 2024-25, the CSS Profile^® did not undergo any major changes for 2024-25.

Wake Forest is not changing how it determines students’ eligibility for total need-based scholarship assistance for the 2024-25 academic year due to changes in the FAFSA^® calculation.

Nor is Wake Forest changing its financial aid application priority filing dates and its aid notification timelines. Aid notifications will include estimated eligibility for federal student aid programs based on CSS Profile^® data. Enrolling students will then receive a subsequent aid notification after 2024-25 FAFSA^® results are received and analyzed by Wake Forest. This subsequent aid notification will include final official eligibility for federal student aid programs.

As the 2024-25 academic year approaches, there may be increased media attention about FAFSA^® Simplification and its potential impacts on students. Students at colleges and universities who rely solely on the FAFSA^® to determine students’ eligibility for all financial aid programs will likely be more impacted by FAFSA^® Simplification.

The determination of students’ financial aid eligibility is an annual process, and students’ eligibility may therefore change each year due to changes in families’ financial circumstances. Wake Forest maintains its commitment to provide need-based scholarship assistance based on the annual analysis of information provided by students and families via the CSS Profile^® and supporting documentation.

For the latest FAFSA^® Simplification information from the U.S. Department of Education, visit studentaid.gov and type “simplification” in the search box. The U.S. Department of Education’s Pro Tips for the 2024–25 FAFSA® Form page provides tips to help you successfully complete the 2024–25 FAFSA^®.

The U.S. Department of Education’s Launch of the 2024–25 FAFSA^® Form, 2024-25 FAFSA^® Updates, and 2024-25 FAFSA^® Issue Alerts pages provide additional resources and updated information. The U.S. Department of Education’s “What’s Changed for the 2024–25 FAFSA® Form?” video and other related videos are also available.