"Parents paying tuition for two or more children in college stand to lose some financial aid under new government rules," The Wall Street Journal reports. 

... "Changes to the formula for the 2024-25 academic year intend to make more students eligible for federal aid like Pell grants. But that means parents won’t get a break for having multiple children in college since the new formula looks at family members individually instead of as a family unit, said Dana Kelly, vice president of professional development and institutional compliance at the National Association of Student Financial Aid Administrators."

"Under the new Fafsa system, a family’s ability to pay isn’t divided per child, meaning that each student might be on the hook for more tuition, depending on the family’s income."

"'They have adjusted things on the back end such that it is very student-specific,' said Kelly at the National Association of Student Financial Aid Administrators. 'Rather than looking at the family as a whole, they are looking at each student individually.'"

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: 7/18/2023