How New FAFSA Will Change What Students Pay

"The upcoming overhaul to the Free Application for Federal Student Aid and the underlying formula that determines how aid is dispersed will mean thousands more students will be eligible for the Pell Grant and higher-value Pell Grants than under the current formula, a new Brookings report finds," Inside Higher Ed reports.

..."Levine, a nonresident fellow with Brookings’ Center on Children and Family Studies, worked with Jill Desjean, a senior policy analyst with the National Association of Student Financial Aid Administrators, to calculate the impact of the simplification policy changes. NASFAA released a modeling tool last year to help institutions gauge how the new federal formula would affect them.

The Education Department is set to release a new version of the FAFSA this December as part of a broader overhaul of the federal financial aid system that includes changing how eligibility for the Pell Grant is determined, among other policy shifts.

Desjean said the Brookings report is a 'first stab at trying to get the word out that things are changing for next year,' but it’s still hard to predict exactly how students and families will be affected.

However, students who receive the maximum Pell Grant award won’t see any changes in their aid eligibility, she said.

'Don’t worry, nothing’s going to change to hurt you,' she 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: 4/18/2023

View Desktop Version