"The U.S. Education Department said it has discovered a calculation error in hundreds of thousands of student financial aid applications sent to colleges this month and will need to reprocess them — a blunder that follows a series of others and threatens further delays to this year’s college applications," The Associated Press reports.

... "'This is another unforced error that will likely cause more processing delays for students,' said Justin Draeger, president and CEO of the National Association of Student Financial Aid Administrators."

"After so many delays, he added, 'Every error adds up and will be felt acutely by every student who is counting on need-based financial aid to make their postsecondary dreams a reality.'"

... "While the department fixes those students’ records, it’s encouraging colleges to make their own calculations and craft 'a tentative aid package.'"

"Draeger pushed against that idea, saying colleges can only work with 'valid and correct data.'"

"'It is not feasible or realistic to send out incorrect FAFSA data and ask thousands of schools to make real-time calculations and adjustments to the federal formula,' he said."

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: 3/22/2024