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## New FAFSA Rules and Their Impact on Farming and Small-Business Families

Students and families completing FAFSA forms this year might notice a few changes from previous years. The Free Application for Federal Student Aid has fewer questions this year, reflecting the new approach to assessing the ability of students to afford college as part of the FAFSA Simplification Act. These changes are aimed at making the student aid process more predictable for low-income students, with the policy allowing students with an adjusted gross income below specified levels to automatically qualify for a maximum Pell Grant. The AGI threshold is either 175% or 225% of federal poverty guidelines, depending on the studentÔÇÖs dependency status and marital status.

The FAFSA Simplification Act makes additional changes to award rules and some eligibility criteria. However, the American Farm Bureau is warning that some of those changes may have a negative impact on families who farm or own small businesses. The exemption for families who owned farms and small businesses and had an adjusted gross income of $60,000 or more is no longer applicable, which means that some families may now be responsible for significantly higher education costs under the new rules.

### How AI legalese decoder can help

The AI legalese decoder can be a valuable tool for families and individuals navigating these changes to the FAFSA rules. By using advanced artificial intelligence, the legalese decoder can analyze and interpret complex legal language, providing clear and simplified explanations of how changes to FAFSA may impact farming and small-business families. This can help individuals make informed decisions and take the necessary steps to address any potential challenges or changes in their financial aid eligibility. Additionally, the legalese decoder can stay updated with the latest legislation and proposed changes, providing users with timely information on any developments related to FAFSA rules and exemptions.

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