The Scholarship Foundation of St. Louis Advising Director, Teresa Steinkamp, has issued the following important alerts to college applicants and their families. Her advice is relevant to all who have completed FAFSA and need financial aid to enroll for 2024-25.
YOUR STUDENT AID INDEX (SAI) MAY BE WRONG AND IT’S NOT YOUR FAULT. If you have been able to complete and submit a 2024 FAFSA already, the SAI estimate that you received may be incorrect, since calculations for inflation were not made by the Department of Education. Once fixed, corrected calculations may decrease SAIs and make students eligible for more aid than originally forecasted.
DO NOT COMMIT UNLESS YOU HAVE THE FUNDING ALREADY KNOWN AND IN PLACE. Since no one knows exactly when (or if) the fix will be made to the FAFSA calculations, and therefore how admissions and financial aid offices will respond, students should HOLD OFF ON COMMITTING to colleges until FAFSA applications have been processed with the corrected SAI calculation and official financial aid packages are formally offered.*
Students and families are worried and frustrated after attempts to complete the new FAFSA. We share those feelings. Every day, our six full-time advisors are working with families and students in the office, on the phone, via email, and on school campuses around the metro area to support and encourage students seeking postsecondary education. Navigating this transition has definitely been (and continues to be) very challenging and Foundation advisors are keeping a close eye on new developments from the Department of Education.
Do not give up; just wait to commit. We can help. For assistance with your application or financial aid questions, please contact us at 314-725-7990 or email info@sfstl.org to be put in touch with a student advisor.
For more information on the initial FAFSA delay, including quotes from Teresa Steinkamp:
FAFSA deadlines delayed due to congressional push to make changes – The Lancer Feed
For more information on why the FAFSA is further delayed:
*CLICK HERE for our upcoming Decision-Making Workshop schedule.
