Countless students depend on government funding provided through FAFSA to pursue higher education. However, recent modifications to the free application have resulted in substantial delays, leading to frustration among students and their families.
The Free Application for Federal Student Aid changes will be advantageous for applicants, according to Troy University’s Associate Vice Chancellor for Financial Aid.
“These changes are expected to bring about an expansion in the eligibility of federal aid and Pell grants, which is a significant benefit,” stated Alicia Bookout.
The latest version of the FAFSA form has been redesigned to be more concise and easier to navigate.
Additional universities can now be included in the list, while family farms and small businesses can now be considered as valuable assets.
“The number of college students in a household, although it will be considered during the questioning process, will not be factored into the SAI calculations,” explained Bookout, highlighting a significant change.
SAI is set to replace the Expected Family Contribution.
At Troy University, undergraduate students who have siblings in college might experience a modification in their eligibility for federal aid.
There is growing concern over the delayed release of FAFSA data, but Bookout offers some helpful advice.
Everyone is experiencing this transition. “Our software vendors and the institutions are all working together to overcome these challenges, so we kindly ask for your patience,” said Bookout.
Currently, colleges have been informed by the U.S. Department of Education that data will not be available until the first half of March. Typically, students are accustomed to receiving a decision on their aid around that time.
There may be a delay in the process this year, but the majority of schools still expect students to make their commitments by May 1.