This Year, Colleges Must Choose Between Fast Financial Aid Offers, or Accurate Ones

"Countless prospective college students are eager to commit to colleges, acceptances in hand, but are stuck waiting for one last piece of the puzzle: their college financial aid package. Those offers are coming later than normal this year, due to the troubled launch of the U.S. Education Department's new federal student aid form, or FAFSA," NPR reports.

..."With students and families eagerly awaiting the results of their FAFSA applications, college financial aid offices are in a tough position: They need to send aid offers out as soon as possible to give students time to weigh their options, but they also don't yet trust the FAFSA data the Education Department is sending them.

That's because the data has been "riddled with errors or incompletions," says Justin Draeger, the president and CEO of the National Association of Student Financial Aid Administrators.

To navigate this dilemma, Draeger says, 'different schools are trying different tactics.'

'Some schools are going to send out provisional or estimated aid offers as soon as they can. Other schools aren't able to sort through the data. They feel like they are stuck until they get more information."

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: 4/5/2024

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