"A new version of the federal student aid application known as the FAFSA is available for the 2024-2025 school year, but only on a limited basis as the U.S. Department of Education works on a redesign meant to make it easier to apply," The Associated Press reports.

... "In general, the relaunch of the application is meant to make the process smoother for students and their families. The Education Department also said the relaunch will increase eligibility for financial aid for low- and middle-income students."

"'Most students and families will be able to complete the process in less time and we’ll see more students qualify for need-based aid,' said Justin Draeger, president of the National Association of Student Financial Aid Administrators."

... "On Tuesday, the Education Department said it would update the numbers in time for the 2024-2025 FAFSA, NPR first reported. But this could mean more delays for students, Draeger said."

"'Adjusting these inflationary numbers is the right thing to do, and should have been done from the beginning. Unfortunately, because the Department is making these updates so late in the financial aid processing cycle, students will now pay the price in the form of additional delays in financial aid offers and compressed decision-making timelines,' said Draeger in a press release."

"Since the process has been delayed this year, students will begin to receive their offers later than usual. If a student fills out the application as soon as it’s available, their listed colleges won’t receive their information until potentially the end of January, Draeger said."

"'There will be a bit of a gap and potentially delay so we ask for a little bit of patience,' Draeger said."

"In previous years, colleges would get information about students shortly after they started submitting the FAFSA in October. That meant students would receive their financial aid awards along with their acceptance letters in January. Draeger recommends that students regularly check their desired college’s website for new relevant deadlines."

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: 1/24/2024