Apply for Financial Aid
Complete the Free Application for Federal Student Aid (FAFSA) online using Baker College’s school code. Remember that you must apply for financial aid every year.
Baker College School Code:
004673
Big Changes to the 2024-2025 FAFSA
Big changes are coming to the FAFSA for the 2024-25 Award Year! As a result of the FAFSA Simplification Act, Federal Student Aid is updating the FAFSA process to expand access to federal student aid and provide an easier, streamlined FAFSA experience for students and families.
The 2024–25 FAFSA Form Is Available
While the form is available, there will be times where it is not functioning as the federal government continues to make enhancements to the system. Students are encouraged to apply as soon as possible. The Michigan financial aid programs have a May 1, 2024 deadline. Don’t delay, apply today!
Please Note: Colleges will not receive results from the FAFSA application until mid-March.
Key Changes
- The FAFSA will be streamlined and more user-friendly with fewer questions.
- IRS Direct Data Exchange (DDX) makes entering federal tax information easier.
- A student’s family size has changed to align with the number of individuals reported as dependents on the students/parents U.S. tax return. Applicants may update family size if it changes after filing the tax return.
- The number of family members in college will no longer factor into the FAFSA calculation.
- For divorced or separated parents, the parent who provided the most financial support to the student will need to provide their information. Previously, the parent who the student lived with the most provided their information.
- The net worth of a business is no longer limited to those with more than 100 full-time employees. Applicants will be asked to report the net worth of all businesses, regardless of the size of business.
- Child support received will be reported as an asset on the FAFSA instead of as untaxed income.
New Terminology
Contributor
Anyone who is asked to provide information on the FAFSA – Student, Student’s Spouse, Parent(s), and Step-parent(s).
Consent
Required from all contributors in order for the IRS to share tax data directly to the FAFSA. If any contributor refuses, the student will not be eligible for financial aid.
Direct Data Exchange (DDX)
Replaces the Data Retrieval Tool (DRT)
A contributor’s Federal Tax Information (FTI) transferred directly from the Internal Revenue Service (IRS) after giving their consent.
FAFSA Submission
Replaces the Student Aid report (SAR)
FSS is a summary of the applicant’s completed FAFSA information.
Student Aid Index (SAI)
Replaces the Expected Family Contribution (EFC)
SAI is calculated by FAFSA data and will determine student aid eligibility.
What is Not Changing
- The FAFSA is still required for consideration of federal and state financial aid every year.
- Dependency status questions that determine if the applicant’s parent(s) must complete the FAFSA will remain the same.
- The FAFSA will still request tax information from the prior-prior year, which means 2022 income and assets will be reported on the 2024-25 application.
What You Can Do Now to Prepare
Every contributor (student, the student’s spouse, a biological or adoptive parent, or the parent’s spouse) who’s required to provide information on the FAFSA form will have their own studentaid.gov account username and password (FSA ID) to complete and sign the FAFSA form online. Contributors are encouraged to create an FSA ID on studentaid.gov in advance in case issues are encountered during the process.
Federal Student Aid Estimator Tool
With the Federal Student Aid Estimator tool, students can find out how much federal student aid they may be eligible for starting with the 2024–25 award year—note that this tool estimates the Student Aid Index (SAI) for 2024–25 award year, not the Expected Family Contribution (EFC) for 2023–24 award year.