2024-25 Financial Aid Processing
Whether enrolled for Fall 2024 semester or about to begin in Spring 2025 semester, if you have not yet submitted your 2024-25 FAFSA, we recommend doing so as soon as possible.

In order to be considered for federal and state aid – and some scholarships – you must complete the Free Application for Federal Student Aid (FAFSA) each year. We encourage every eligible student to file a FASFA, regardless of whether you think you will qualify for any aid. The U.S. Department of Education administers the online FAFSA and millions of students complete the FAFSA each year.

Submitting a Free Application for Federal Student Aid (FAFSA) is a must if you’re hoping to take advantage of federal and state grants, federal loans, and some Penn College scholarships. Unsure where to start? Work with a member of our experienced team who will walk you through how to complete this important aid application.

• Schedule FAFSA Completion Assistance

• Remember to designate Penn College as the recipient of your FAFSA by using our federal school code: 003395.
• The Penn College priority submission deadline is March 1 for the 2025-26 FAFSA. 
  • The 2025-26 FAFSA is needed for students starting or returning for Summer or Fall 2025 and/or Spring 2026.
    • It uses income from calendar year 2023.
    • Try the Federal Student Aid Estimator to estimate your federal aid.
    • FAFSA Tips from Federal Student Aid (FSA)
    • We encourage you to complete the FAFSA as early as possible.
• Below are a few FSA videos to help you with the FAFSA:
  • What is FAFSA?
  • Understand and Prepare FAFSA® Contributors
  • Create and Access Your StudentAid.gov Account
  • What Does it Mean to Provide Consent and Approval on the FAFSA?
• The 2024-25 FAFSA uses income from calendar year 2022.
• The 2024-25 FAFSA is needed for students starting or returning for Summer or Fall 2024 and/or Spring 2025.

Most students under the age of 24 will need to include information about their parent(s) on their FAFSA, even if they live separately or their parent(s) will not help them financially.
More information about dependent and independent students from Federal Student Aid.

What if your parents are divorced or separated or never married?
More information about which parent(s) to include for the FAFSA from Federal Student Aid.

You and, if needed, a parent, sign your FAFSA and give consent electronically using the FSA ID. If you do not have a FSA ID/StudentAid.gov account , you should create one at least 1-3 weekdays before you start your FAFSA. The same is true for all FAFSA contributors - each contributor needs their own FSA ID/StudentAid.gov account. 

• Creating your account information from FSA
• Create an account

The Financial Aid Direct Data Exchange (FA-DDX) allows FAFSA contributors to give consent and approval for the IRS to securely provide federal tax information to the U.S. Department of Education. The FA-DDX:

• Simplifies your FAFSA completion process
• Reduces the odds of error on your FAFSA
• Significantly reduces the likelihood that your FAFSA is selected for Federal Verification

What you need to complete your FAFSA.

Submit your FAFSA

Fewer than 1 out of 10 students who submit a FAFSA are selected by the U.S. Department of Education for a process called Federal Verification.  The Financial Aid Office is here to assist you if you are selected.

Learn more about Federal Verification

Did your family experience a significant reduction in income since calendar year 2022? As a result, the financial data on the 2024-25 FAFSA may not reflect your family’s recent or current financial situation. This could be because of a job loss, reduced wages, divorce, separation, or another reason.

If you're an accepted or current student and your family’s 2023 or 2024 total income (both taxable and non-taxable) is significantly lower than it was in 2022, let's have a conversation to help us better understand your family's circumstances and determine if a FAFSA adjustment is possible. Please contact us with any questions.

The following information applies only to students who answer ‘No’ to all of the FAFSA dependency questions.

By answering ‘Yes’ on the FAFSA to the ‘Student Unusual Circumstances’ question, you can complete and submit your FAFSA, and will be granted ‘provisional independent’ status.  After receiving your FAFSA, the Financial Aid team will contact you and may request documentation in order to make a final determination of your dependency status, which you will be notified of via email. 

Please understand that even for those students who we approve their dependency status as  ‘independent’,  they will typically need one or more educational loans to help cover the cost of education 

Note that the following student circumstances are not considered as Unusual Circumstances:

• Live separate from parents or are not financially dependent on their parents
• Are not claimed as a dependent by their parents on a federal tax return
• Parents are unwilling or unable to take out a loan or help fund the cost of education
• Parents are reluctant to provide their information on the FAFSA

Please contact the Financial Aid team with any questions.

Explore the links below for additional resources to help before and after completing your FAFSA.

• Review FAFSA information from the U.S Department of Education.
• See Aid Notification for details on what to expect after you’ve filed your FAFSA.