Financial Aid

Three big changes tot he new FAFSA:

• Simplification: The FAFSA will reduce the maximum number of questions from 108 to 46. And because the FAFSA on the Web is dynamic, some students won’t even be presented with all 46 questions. Recent FAFSAs dropped, and others will no longer be asked due to the way that tax and income information will be shared.
• Tax/Income Data: Previously, students, a student’s spouse (when married), and parent(s) (when students are dependent) entered their tax information or used the IRS Data Retrieval Tool (DRT) to transfer tax data from the IRS to the FAFSA. Beginning with 2024-25, all persons listing tax information on the FAFSA will be required to use the IRS Direct Data Exchange (DDX) to share tax information or confirm non-filing status. DDX gives ease to the process and reduces the number of questions to be answered. This change also requires the student, spouse, and all parents with tax data reported to get a personal FSA ID (if you don’t each have one already).
• Student Aid Index: The FAFSA previously calculated an Estimated Family Contribution (EFC). Now the FAFSA will produce the Student Aid Index (SAI). This name more accurately describes a number used to determine aid eligibility within programs and compared to other students. Also, this number, unlike the EFC, can be negative with the minimum SAI being -1500. EFC becoming SAI is more than a name update. The calculation of the SAI differs from the EFC calculation of the past and makes the following changes that may change your aid eligibility:

• No benefit for having siblings in college: The FAFSA previously divided the EFC proportionally based on the number of households in college. The elimination of this “sibling discount” will be the biggest change in aid eligibility for some students. The SAI will not use the number in college as a factor in the calculation of eligibility. As such, AAC students with siblings in college may see a change in their aid eligibility at AAC as well as with the aid received by their sibling(s) at AAC or elsewhere. The determination to no longer consider numbers in college was made by Congress and can only be changed by Congress.
• Automatic Pell Grants based on income and household size: Families making less than 175% and single parents making less than 225% of the federal poverty level will see their students receive a maximum Federal Pell amount award. Minimum Pell Grants will be guaranteed to students from households below 275%, 325%, 350%, or 400% of the poverty level, depending on household structure. Pell awards between the maximum and minimum amounts will be determined by SAI.
• Larger Income Protection Allowances: The Income Protection Allowance (IPA) covers a family’s basic living expenses and is excluded from SAI formulas. New, larger IPAs lower the amount of student or parent income considered to be available to pay for college. IPAs will increase by 20% for parents, up to about $2400 (35%) for most students, and up to about $6500 (60%) for students who are single parents.
• Inclusion of family farms or small businesses: When required, families will now report the value of their farms or businesses. While this inclusion continues to be debated in Congress, it will require reporting for appropriate families on the 2024-25 FAFSA and can influence the SAI.

Additional Updates on the 2025-26 aid process will be noted here.

Student status for purposes of financial aid is defined by federal regulations and is determined through a series of questions when completing the Free Application for Federal Student Aid (FAFSA). The Art Academy of Cincinnati and the State of Ohio follow these same regulations when determining aid eligibility.

NOTE: When completing the FAFSA, you are likely not to be asked all of these questions. If your answers to simplified versions of these questions provide enough information, the system will avoid taking the student through a long series of somewhat complicated scenarios as described in full below.

Dependent students are required, when completing the FAFSA, to include parental information. Independent students do not have to use parental financial and household information when filing their FAFSA.

You are considered a dependent student for aid purposes unless one or more of the following very specific conditions is met:

• AGE
  • You are 24 as of January 1 of the FAFSA filing year (i.e., you do not become independent when you turn 24).
• GRAD PROGRAM
  • You are or will be enrolled in a master’s or doctoral degree program (beyond a bachelor’s degree with at least 72 undergraduate hours) at the beginning of the academic year.
• MARRIAGE
  • You’re married on the day you complete the FAFSA (even if you are separated but not divorced).
• MILITARY
  • You are currently serving on active duty in the U.S. Armed Forces for purposes other than training.
  • You’re a veteran of the U.S. Armed Forces. (A “veteran” includes students who attended a U.S. service academy and were released under a condition other than dishonorable. For more details on who is considered a veteran, see the explanatory notes on the FAFSA.)
• DEPENDENTS
  • You have children who will receive more than half their support from you between July 1 and June 30 of the FAFSA academic year.
  • You have legal dependents (other than your children or spouse) who live with you and who receive more than half their support from you now and through June 30 of the FAFSA academic year.
• ORPHAN/GUARDIANSHIP
  • When you were age 13 or older, both your parents were deceased and you were in foster care or a dependent or ward of the court.
  • You are or were an emancipated minor as determined by a court in your state of legal residence.
  • You are or were in legal guardianship as determined by a court in your state of legal residence.
• HOMELESS
  • At any time on or after July 1 of the year after the tax year used on the FAFSA, your high school or school district homeless liaison determined that you were an unaccompanied youth who was homeless.
  • At any time on or after July 1 of the year after the tax year used on the FAFSA, the director of an emergency shelter or transitional housing program, funded by the U.S. Department of Housing and Urban Development, they were determined that you were an unaccompanied youth who was homeless.
  • At any time on or after July 1 of the year after the tax year used on the FAFSA, the director of a runaway or homeless youth basic center or transitional living program determined that you were an unaccompanied youth who was homeless or self-supporting and at risk of being homeless.

Some students find themselves in more extreme situations that prevent a student from being able to have parents complete the FAFSA. If you don’t know where your parents are or you’ve left home due to an abusive situation, contact the AAC Office of Financial Aid. We can assist you with the proper course of action.

Parent refusal or desire not to complete the FAFSA is not the same as an inability for parents to complete the FAFSA.

There are many sensitive family issues, and staff will work with you within federal regulation limitations to get you the proper aid.

For the Dependency Override Form – please email us at financialaid@artacademy.edu 

Your FAFSA is completed using financial data from two years ago. While most families experience consistent income from year to year, other situations like job loss, retirement, death, or divorce can change income matters significantly. We will review such a situation with an eye on how it may affect your aid eligibility. Ultimately, staff can help to determine if your situation is worth your extra effort to collect additional documentation.

Students who have specific expenses related to their cost of education (i.e., child care for preschool-aged children, instrument purchases for performance majors) can request an appeal via the AAC Office of Financial. However, recognize that such increases usually only impact some graduate and parent plus loan borrowing.

For the Special Circumstances Form – please email us at financialaid@artacademy.edu