"A miscalculation in college students’ financial aid information means that over 200,000 borrowers’ information needs to be recalculated — and some Pittsburgh-area students are among those affected," The Pittsburgh Post-Gazette reports.

... "Students impacted by the miscalculation will now wait even longer to receive financial aid offers from schools, said Karen McCarthy, vice president of public policy and federal relations at National Association of Student Financial Aid Administrators."

"That could have a heightened impact on incoming freshmen who are still deciding where to attend college."

"'For the roughly 200,000 students impacted by this miscalculation, it means having to wait even longer before receiving their aid offer, likely also delaying their ability to make a decision on college enrollment,' Ms. McCarthy said in an email. 'It’s important that students have a clear understanding of what college will cost before making that decision.'"

... "Key changes to the form include a shortened question pool — it asks around 50 questions rather than over 100 — and a streamlined process for government access to the financial information of applicants and their families. Beginning in the 2024-25 award year, a new interface will allow the government to directly receive federal tax information from the Internal Revenue Service when determining a student's needs and grant eligibility."

"But these improvements could be overshadowed by continuous issues with the new form. Ms. McCarthy, of NASFAA, said she believes the situation has harmed the public’s trust in the Department of Education."

"'With any overhaul of this size, bugs, glitches, and minor errors are to be expected,' she said. 'But the frequency and severity of the errors we’ve seen, coupled with a lack of timely communication and unclear plans for resolution, has certainly eroded the public’s trust in the department.'"

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: 3/27/2024