"College students and their parents plan. God laughs. In 2020, the Covid-19 crisis has thrown a lot of kids’ college education plans into disarray. While many schools planned to reopen in the fall, some institutions have walked that back now that new virus cases have emerged. Professors, especially older ones, don’t find it worth the risk," Financial Advisor Magazine reports.

"The pandemic and recession it caused have also caused college students to swarm the student financial aid offices looking for new grants or scholarships at a time they need it more than ever. Some 30 million Americans were reportedly unemployed in late July, and many families have taken a big hit to their income. That hit, horrible as it is, on the bright side means an opportunity to appeal for more college financial aid for their children.

... 'Our schools have definitely indicated that they are busier than ever,' says Megan Coval, vice president of policy and federal relations at the National Association of Student Financial Aid Administrators. 'A big part of what they’re hearing from students and families is that right now, when you fill out the FAFSA, you put in two years’ prior income, so there’s many people who are saying ‘Hey, my income from two years ago is not where it is now. It’s not even where it was six months ago before this started.’ So what’s on my FAFSA form and what generates the [expected family contribution] and what aid a student gets is no longer accurate for me. So schools are dealing with going through those' in the form of appeals and adjustments."

NASFAA's "Notable Headlines" section highlights media coverage of financial aid to help members stay up to date with the latest news. Articles included under the notable headlines section are not written by NASFAA, but rather by external sources. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.

Publication Date: 8/24/2020