Key Financial Aid Tool Could Be Down for Months

"The Department of Education and the Internal Revenue Service said Thursday that an important online tool for financial aid applicants could be down for months while protections are added to protect the security of users," Inside Higher Ed reports.
 
"That means a more time-consuming process for students and their families completing the Free Application for Federal Student Aid and, potentially, a more burdensome verification process after students submit the application. The impact of the IRS data retrieval tool's continued outage will extend far beyond first-time college students, affecting current students renewing the FAFSA as well as student loan borrowers seeking to enroll in or update information for income-driven repayment plans. ...
 
Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators, said Koskinen's statement 'betrays a disheartening lack of understanding about how vital this tool has become in streamlining the financial aid application process.' Although NASFAA said students can still manually complete the FAFSA online, it renewed its call on the department to improve communication about the data retrieval tool and soften the impact on affected students."
 
NASFAA's "Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

 

Publication Date: 3/31/2017

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