2 weeks ago
New and returning assemblage students' timelines for applying for federal financial aid and receiving their grant offers person been thrown disconnected this twelvemonth aft nan botched rollout of a caller exertion shape – pinch nan activity of nan agency successful complaint group to alteration this summer.
College students and their families person been successful limbo aft issues pinch nan implementation of a caller FAFSA exertion shape person caused delays successful financial assistance offers that person near galore uncertain of what they'll person erstwhile nan caller world twelvemonth starts successful a fewer months.
In years past, FAFSA applications for nan pursuing twelvemonth would unfastened to students and families successful October. Institutions would process applications successful January to springiness students clip earlier enrollment deadlines successful May to measure their situation. However, delays from a botched update prevented applications from opening until January, erstwhile they were temporarily unopen down, while a consequent setback delayed nan process further.
Richard Cordray, nan main operating serviceman for nan Office of Federal Student Aid (FSA), will measurement down astatine nan extremity of June, according to a study connected Friday by nan USA Today. The announcement comes arsenic nan Department of Education believes it has addressed issues pinch FAFSA applications, though it remains unclear really nan delays will effect incoming assemblage students still waiting for financial assistance offers – which person historically had a May 1 deadline for acceptance, though immoderate colleges person pushed that deadline backmost to May 15 aliases June 1.
TOP EDUCATION DEPARTMENT OFFICIAL STEPPING DOWN AS COLLEGE FINANCIAL AID FIASCO CONTINUES
Many students are still awaiting connection from colleges astir their financial assistance offers. (Photo by Scott Eisen/Getty Images / Getty Images)
"Any students who person been waiting to capable retired a FAFSA request to cognize that now is nan clip to capable it out," Undersecretary of Education James Kvaal told media members connected Tuesday. "We cognize really important this is, and we will proceed to do immoderate we tin to get students each of nan financial assistance for which they are eligible, and to thief colleges make financial assistance offers arsenic quickly arsenic possible."
"Students who complete a FAFSA coming tin expect their records to beryllium sent to colleges wrong 1 to 3 days," Kvaal added. "It's been a challenging twelvemonth for nan FAFSA, but I'm proud of nan advancement we've made successful caller weeks."
What is FAFSA?
The Free Application for Federal Student Aid (FAFSA) is simply a archive that must beryllium completed by incoming and existent students arsenic good arsenic their families if they want to person national financial assistance astatine institutions of higher acquisition successful nan adjacent academic year.
The FAFSA uses accusation astir nan finances of a student and their family to find really overmuch national financial assistance they're eligible to person – including subsidized aliases unsubsidized student loans.
BIDEN ADMIN'S BOTCHED FINANCIAL AID ROLLOUT UNDER INVESTIGATION BY WATCHDOG
Why was it revamped?
A bipartisan spending measure enacted by Congress successful December 2020 included provisions that required nan Department of Education to betterment and streamline nan process for submitting nan FAFSA anterior to nan 2024-2025 grant year.
The biggest alteration successful nan revamped FAFSA was nan replacement of nan Expected Family Contribution (EFC) look pinch nan Student Aid Index (SAI). The Department of Education said nan SAI removes nan number of family members successful assemblage from nan calculation and implements abstracted eligibility criteria for Federal Pell Grants.
Richard Cordray will measurement down from nan Office of Federal Student Aid astatine nan extremity of June. (Reuters / Reuters Photos)
What delayed nan caller FAFSA?
Delays from nan Department of Education's overhaul process prevented FAFSA applications from opening until January, astatine which clip it was temporarily unopen down.
When it reopened, it included incorrect ostentation tables that had to beryllium changed because nan outdated information was understating nan magnitude of financial assistance students were eligible – which successful move delayed applications from being sent to colleges. Later, different correction occurred erstwhile a national contractor miscalculated a abstracted look connected complete 200,000 applications.
THE COST OF COLLEGE TUITION SURGED THE HIGHEST IN THESE STATES
The agency said Tuesday it has since reprocessed astir each nan applications that were antecedently reviewed pinch known issues.
Students and parents person had to hold to person financial assistance offers owed to nan FAFSA delays. (Photo by Rick Friedman/Corbis via Getty Images / Getty Images)
Application challenges
The request that FAFSA applications see their parents' Social Security numbers initially prevented hundreds of thousands of students who are U.S. citizens aliases permanent residents, but who person parents who are not, from submitting their applications.
The Department of Education said Tuesday that parents impacted by that bug successful nan strategy will beryllium capable to participate their taxation accusation manually and will person a impermanent workaround successful spot for nan identity-verification process. The agency said it will notify applicants astir nan procedural change.
LIST OF 'NEW IVY LEAGUE' COLLEGES RELEASED AS LEGACY SCHOOLS LOSE LUSTER
A position of Wellesley College campus. A Wellesley College referendum supports admittance of transgender men, but nan administrators disagree. (Photo by Jessica Rinaldi/The Boston Globe via Getty Images) (Jessica Rinaldi/The Boston Globe via Getty Images / Getty Images)
Deadlines
Colleges, states and nan national authorities person different deadlines for submitting nan FAFSA – truthful students and their families should guarantee they complete nan shape anterior to nan earliest applicable deadline for their circumstances.
For example, nan national deadline for nan 2023-24 FAFSA shape is disposable to beryllium filled retired done June 30, 2024, but nan Department of Education notes that waiting until nan extremity of an world twelvemonth is simply a "bad idea" fixed different deadlines.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The Department of Education maintains a list of authorities FAFSA deadlines for nan existent and upcoming world twelvemonth that tin beryllium referenced by applicants. Students and families should cheque pinch nan financial assistance agency astatine institutions they're considering to find those colleges' deadlines.
