"A new, shorter version of the federal student aid form is aimed at encouraging more families to complete it and qualify for financial help. But tweaks to its underlying formula could reduce aid for some families, particularly more affluent ones with more than one child in college," The New York Times reports.
"... In the big picture, the changes to the formula increases access to college aid for low-income students who sorely need the help, said Justin Draeger, president and chief executive of the National Association of Student Financial Aid Administrators. For instance, he said, the updated formula greatly expands eligibility for federal Pell grants for low-income students, making them newly available to about half a million more people and giving more access to the maximum grant.
That may be 'small consolation' to families affected by the elimination of the sibling break, Mr. Draeger acknowledged. 'I don’t want to be callous,' he said, yet the result of the policy change is a formula that 'treats families in similar circumstances more equitably.'”
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: 1/29/2021