FAFSA Simplification (& FUTURE) Act

The FAFSA® Simplification Act, in conjunction with the FUTURE Act, represents the largest overhaul in the U.S. Department of Education’s (ED) Federal Student Aid programs, which are authorized by Title IV of the Higher Education Act of 1965, as amended, in the last 40 years. While legislation was passed in 2021, the implementation of the related processes and systems became fully effective in the 2024-25 (prior) Academic Year. Major goals of the FAFSA® Simplification Act include streamlining and improving the Free Application for Federal Student Aid (FAFSA®) process, redesigning the calculation of student Need, extending Federal Pell Grant funds, and changing the way that institutions administer Title IV Financial Aid. Please note that all Finance-related policies have been updated to reflect changes that occurred in 2024-25 (prior) Academic Year. Students are required to read and understand BSMCON policies and encouraged to meet with the Financial Aid Counselor to review individualized Financial Aid plans annually. Additional information can be obtained in ADM 4.01 Federal Financial Aid Administration and ADM 4.02 Federal Financial Aid Programs policies.