NASFAA Mention: Here's the Latest on Student Loans, Refinance Rates and More for June 15, 2020

“Four out of 10 college students say they expect they’ll need to borrow more this fall to pay tuition bills. That’s the latest in a series of surveys that highlight the pressure the coronavirus is putting on students’ plans to pay for college,” Money reports.

…”A new survey of financial aid administrators finds most are anticipating a surge in requests for more financial aid, as college students and their parents deal with the economic fallout of the coronavirus.

Nine out of 10 colleges told the National Association of Student Financial Aid Administrators they anticipate an increase in the number of families asking the college to reevaluate their finances.

If you’ve lost your job or had your wages cut in the time since you filed your financial aid forms, you can ask for what’s called a special circumstances appeal from your college. A financial aid administrator will then review your details and determine whether you can qualify for additional money, like a Pell grant from the federal government or a scholarship from the college. In fact, nearly half of colleges told NASFAA said they’ve already seen an increase in such requests between March and the end of May, compared with last year’s numbers.”

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: 6/16/2020

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