"A calculation error with the 2024-25 Free Application for Federal Student Aid (FAFSA) sent incorrect data to colleges processing financial aid awards, impacting 200,000 students who may have previously received financial aid letters," Yahoo Finance reports.

... "'This is another unforced error that will likely cause more processing delays for students,' Justin Draeger, president of the National Association of Student Financial Aid Administrators (NASFAA), said in a statement. 'At this stage in the game and after so many delays, 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.'"

... "'Schools can only work with valid and correct data that is provided to them from the U.S. Department of Education [and] 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 on the school side,' Draeger 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: 3/28/2024