"A long-awaited, supposedly user-friendly version of the college financial aid form known as the FAFSA will be unveiled for the 2024-25 school year," The New York Times reports.
..."While the number of students in college is no longer a factor in the federal formula, the FAFSA still asks a question about the number of family members in college, said Karen McCarthy, vice president of public policy and federal relations with the National Association of Student Financial Aid Administrators. Colleges can take the information into account and potentially make adjustments under a process known as 'professional judgment.'
If a student receives an aid package from a college that falls short, Ms. McCarthy said, 'I recommend reaching out to the financial aid office to see what can be done.'
Other expected changes on the form include replacing the confusing 'expected family contribution,' a number that estimates what a family might have to pay, with the 'student aid index,' a sort of guideline for the amount of financial help for which a student qualifies.
The federal government says the number of questions on the form have been greatly reduced, but Ms. McCarthy said the number you’d have to answer would depend on your circumstances. Still, she said, 'we do think it will be an easier process for families.'
The transfer of federal income tax forms from the Internal Revenue Service into the application, for instance, has been streamlined and should occur seamlessly after users approve the transfer, instead of requiring several clunky steps, Ms. McCarthy 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: 8/11/2023