Eligibility
The FAFSA Simplification Act represents significant changes in the processing and systems affecting federal student aid beginning with the 2024-25 award year. Areas impacted include the Free Application for Federal Student Aid (FAFSA), need analysis, and policies and procedures.
To determine students’ eligibility for assistance, the following estimated direct and indirect expenses are used to create the students’ Cost of Attendance: tuition and fees, books and supplies, housing and meals, transportation and personal/miscellaneous expenses. Because the Cost of Attendance uses average amounts, it may not reflect students’ actual costs.
The Office of Student Financial Aid and Scholarships provides eligible students with financial aid in the form of grants and scholarships, employment and loans. Underlying the awarding of financial aid at PSU is the nationally accepted philosophy that parents, considered contributors, are the primary source responsible for helping their dependent students meet their educational costs. The amount of the contribution expected from parents is based on a family’s financial strength as indicated by taxed and untaxed income, family size, and assets. Additional family members in college are no longer included in the calculation. Both dependent and independent students have a responsibility to make a reasonable contribution toward their costs from earnings and savings. Financial aid resources serve to supplement these primary resources and are intended for educational expenses only. Financial aid eligibility is calculated using a formula determined by federal law. This calculation is now referred to as the Student Aid Index or SAI, replacing the Expected Family Contribution (EFC).
Students should apply annually using the Free Application for Federal Student Aid (FAFSA). The FAFSA can be filed online at www.fafsa.gov. PSU’s federal school code to be used on the FAFSA is 003216. It’s important to note that both the student and, if required, at least one contributor must have an FSAID and password to complete the FAFSA.