As Smaller Colleges Close, Competition Increases

"When the pause on student loan repayments was extended through the end of August, 43 million borrowers may have breathed a collective sigh of relief. But former students paying off loans is just one facet of a complicated college planning environment that has only intensified since the pandemic, experts say," Financial Advisor reports.

..."First, helping clients accurately complete their Free Application for Federal Student Aid (FAFSA) is the best thing an advisor can do, sources agree. And in this case, 2020 might show a silver lining, according to Karen McCarthy, vice president for public policy and federal relations at the National Association of Student Financial Aid Administrators.

'Aid applications for the current academic year, which is 2021-2022, were based on income in 2019. The applications for this fall are looking at 2020 income,' she says. 'For a lot of people, 2020 represented a real drop in income, and whether they’ve recovered or not, that may provide some relief.'"

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: 5/1/2022

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