2024-2025 FAFSA Simplification

In response to the ongoing delays from the U.S. Department of Education with the implementation of the 2024-2025 FAFSA (normally available October 1st each year), the University of Memphis has taken steps to assist students and parents as they make critical decisions regarding college attendance. The University is committed to assisting students in funding their educational goals and will continue to monitor the situation, making additional adjustments, as necessary.  Below are a few important actions the Univerisity has taken to help students and families: 

  • Priority financial aid deadlines have been further extended to May 1st (previously February 1st and then extended to April 15th). NOTE: The Tennessee Student Assistance Corporation's (TSAC) adjusted priority financial aid deadline was April 15th. 
  • Merit scholarship awarding has been extended.
  • The Office of Student Financial Aid & Scholarships' staff are working closely with state and federal offices as well as our software vendors to ensure students receive initial aid offers as soon as possible. The Financial Aid Timeline for 2024-2025 listed below is tentative and dependant on many factors. Students and families can be assured we are doing everything we can to expedite the process. UPDATE: The University of Memphis Office of Student Financial Aid and Scholarships began loading 2024-2025 FAFSAs the first week in April. Initial financial aid offers for first-time freshmen began sending via email and postal mail April 8th. Aid offers for first-time freshmen will continue to be sent weekly throughout the spring and summer as we receive FAFSAs and updated information.  
  • Students are encouraged to use the Federal Student Aid Estimator provided by the U.S. Department of Education to estimate their federal financial aid eligibility. Please note that this is just an estimate and will not include estimates of institutional, state, or privately funded financial aid eligibility. 
  • Additional FAFSA Completion Events have been scheduled.  Students needing assistance with completing the FAFSA are encouraged to Register Now to attend one of the upcoming events:

Students and families will have the opportunity to complete their FAFSA and receive hands-on assistance from financial aid professionals at the University of Memphis. While we encourage and welcome students to attend our events if they require assistance, we do not recommend waiting to complete your 2024-2025 FAFSA if you are able to do so on your own. Completing the 2024-2025 FAFSA can be done in 10-20 minutes in most cases and waiting for an event may only delay completion of your FAFSA. If you would like to complete your FAFSA with assistance outside of our scheduled events, please visit our office, located in 103 Wilder Tower. We are open 8:00 AM - 4:30 PM Monday - Friday and have a limited number of computers available to complete your FAFSA. Please arrive prior to 3:45 to allow sufficient time to complete your FAFSA before our office closes at 4:30. 

In 2021 the Federal government approved a Consolidated Appropriations Act. This act includes new laws that require changes in how students complete the FAFSA and how the FAFSA calculates eligibility for Federal Student Aid that are going into effect for the 2024-2025 school year. To help students, faculty, and staff with these upcoming changes, the Office of Student Financial Aid and Scholarships has provided information on this page for the upcoming timeline for 2024-2025, the new Student Aid Index, Pell eligibility, and the new 2024-2025 FAFSA application.

Because so many changes are happening to the FAFSA, it is taking the U.S. Department of Education longer to make it ready for use by students.  The 2024-2025 FAFSA application became available in late December 2023, which is later than the October dates in recent years.  This means that financial aid processing will also happen later than normal. The below timeline provides a preliminary estimate of the processing dates for the 2024-2025 FAFSA.

  • January/February 2024: 2024-2025 FAFSA Soft Launch*
    • Students and Parents can begin submitting 2024-2025 FAFSAs
    • FAFSAs will not be fully processed or sent to the UofM by the U.S. Department of Education until mid-March.
  • Late March/Early April 2024: FAFSAs are received by the UofM for review
    • myMemphis portal will go live with 2024-2025 FAFSA and financial aid requirements
  • Mid/Late April 2024: Initial financial aid offers will become available to admitted, first-time freshmen who have completed all financial aid requirements on their myMemphis portal. NOTE: The University of Memphis Office of Student Financial Aid and Scholarships began sending initial aid offers to first-time freshmen April 8th. Aid offers for first-time freshmen will continue to be sent weekly throughout the spring and summer as we receive FAFSA and updated information.
    • Students will receive aid offers via postal mail and email. Students should be on the lookout for an email and the Memphis blue envelope!

*During the soft launch period (January/February 2024), the FAFSA will be periodically unavailable while the Department of Education monitors site performance and makes technical adjustments to improve the experience. We are encouraging students and parents to have patience and consider waiting until early February to complete their 2024-2025 FAFSA.

NOTE: The above timeline is tentative and subject to change.

Beginning with the 2024-2025 FAFSA aid year, the Student Aid Index (SAI) will replace the Expected Family Contribution (EFC). The SAI is a number calculated by the information on the 2024-2025 FAFSA provided by the student and other contributors. It determines a student’s eligibility for certain types of federal aid such as student loans and Pell grants.

The SAI is used in the below formula to determine a student’s financial need.

  • Cost of Attendance (COA) – Student Aid Index (SAI) – Other Financial Assistance (OFA) = Need

What is the difference between the EFC and SAI?

  • The SAI can be a negative number as low as -1500 to give financial aid administrators more insight into a student’s financial need.
  • The number of family members in college has been removed in the calculation for SAI.
  • Child support received is now counted as assets in the formula calculation for the SAI. Previously, child support received was counted as untaxed income in the calculation for the EFC.
  • Family farms and small businesses will now count as assets in the SAI formula.

Beginning in 2024-2025 aid year, the amount of Pell a student can be eligible to receive is no longer determined by the EFC and Pell Charts. Please see below for general information regarding Pell eligibility for 2024-2025 and beyond. Note: The Maximum and Minimum Pell Grant Amounts have not been announced by the Department of Education at this time.

Maximum Pell Grant Eligibility

  • Eligibility for the Maximum amount of Pell is determined by a student’s (or parent's if the student is classified as a dependent) adjusted gross income, tax filing status, and the annual U.S poverty level guidelines for family size and state of residence.
  • SAI is -1500 to 0

Student Aid Index (SAI) Calculated Pell Grant Eligibility

  • For students who do not qualify for Maximum Pell, they may be eligible to receive a Pell amount calculated by their SAI.
  • Maximum Pell Amount – SAI = Calculated Pell Grant Amount rounded to the nearest $5.

Minimum Pell Grant Eligibility

  • Students who do not qualify for the Maximum Pell or Calculated Pell may be still be eligible to receive the Minimum Pell Grant based on adjusted gross income, tax filing status, and the annual U.S poverty level guidelines for family size and state of residence.

Not eligible for Pell Grant

  • Students whose calculated SAI is greater than the Maximum Pell Award OR the calculated Pell amount is less than the Minimum Pell Award will not qualify for the Pell grant.

For more detailed information on the SAI and Pell eligibility, please reference the 2024-25 Draft Student Aid Index and Pell Grant Eligibility Guide (PDF)

If you would like to see an estimate of how much aid you could potentially receive for 2024-2025, please check out the Department of Education’s Federal Student Aid Estimator.

Because of the upcoming changes by the U.S. Department of Education, the FAFSA application will not only have a new look, but will also include some new terminology and steps for FAFSA completion.


  • A Contributor is any individual that is required to provide their signature and consent for their federal tax information to be included on the FAFSA form.
  • Contributors include the student, the student’s spouse, the student’s biological or adoptive parent, and the parent’s spouse (stepparent).
  • All contributors who do not have one will be required to create an FSA ID. It is recommended that all contributors create their FSA ID beginning in October to avoid delays.
  • The FAFSA application will not be fully submitted and processed until all contributors have given their consent and signed the FAFSA using their FSA ID.
  • Students will be prompted to list the email addresses of other required contributors such as parents on the FAFSA application.


  • For the 2024-2025 aid year, contributors will now be required to give their consent for their federal tax information to be included on the 2024-2025 FAFSA.
  • Once consent is given, it cannot be revoked for that aid year.
  • If a contributor refuses to give consent for their federal tax information to be included on the FAFSA, the student will only be eligible for a Federal Direct Unsubsidized Loan.
  • An FSA ID will be required to give consent. Again, it is recommended that all contributors create their FSA ID beginning in October.

FADDX replaces IRS DRT

  • Beginning with the 2024-2025 FAFSA, the IRS Data Retrieval Tool (IRS DRT) will be replaced by the FUTURE Act Direct Data Exchange (FADDX).
  • Previously, the IRS DRT gave both students and parents the option to import tax return data to their FAFSA instead of manually entering the information on the FAFSA.
  • In 2024-2025, the FADDX authorizes the IRS to provide federal tax information directly to the FAFSA application upon receiving consent from the contributor.
  • Students and Parents will no longer be given the option to manually enter their tax information on the FAFSA.

  • To be eligible for federal aid such as student loans and Pell grants, students must still complete the FAFSA every year.
  • Students and parents will still need to sign the online FAFSA application using their FSA ID.
  • Students will still need to list the University of Memphis, school code 003509, on their FAFSA for our office to receive the application and process their aid.
  • To receive Federal Aid, students must complete any unmet requirements for Financial aid listed on their MyMemphis account. We highly encourage students to complete the FAFSA application as soon as it becomes available and satisfy all Financial Aid requirements each year to prevent any delays for receiving Federal and State Aid.

Complete the FAFSA now by doing the following:

  • If you don't already have an FSA account, then create one on the Federal Student Aid website and assist contributors, such as your parent(s) or spouse, in creating an FSA Account.
  • Complete the FAFSA at https://studentaid.gov/h/apply-for-aid/fafsa
  • Use the Federal Student Aid Estimator to find out how much federal student aid you may be eligible for starting with the 2024-2025 award year.
    • This tool estimates the Student Aid Index for 2024-25 award year, not the Expected Family Contribution (EFC) for 2023-24 and previous award years.


We will continue to update this webpage as we receive more information from the U.S. Department of Education. For questions or assistance, reach out to our office by submitting a request to the TigerHelp Request.