Revised FAFSA could simplify a dreaded rite of passage for students
Revised FAFSA could simplify a dreaded rite of passage for students
There’s an acronym in education that spurs a feeling of, at best, boredom and, at worst, dread: FAFSA. Formally known as the Free Application for Federal Student Aid, it’s essential for students to complete in order to get access to federal grants and loans for their college education. And now, it’s getting a makeover. In December, the federal government is expected to release a revised FAFSA that’s intended to provide more aid and make the process of getting that aid less painful.
The new FAFSA lets students send their tax info from the IRS directly to the Department of Education, meaning they don’t have to tell the government something more than once.
“Students will have far fewer errors perhaps transposing numbers or not understanding which line they were supposed to pull from,” said Kim Cook, who leads the non-profit National College Attainment Network.
Cook’s organization is advising on the simplified FAFSA, and found over 40% of high school seniors didn’t submit the form last year.
“So we have a lot of money left on the table by those who are eligible for Pell Grants, but don’t know or understand about FAFSA, or started a FAFSA and decided it was too difficult,” she said.
The simplified form will also reflect that the government is expanding who is eligible for a Pell Grant.
The December launch date is later than usual, said the Urban Institute’s Sandy Baum.
“But it doesn’t have to be a disaster as long as the form is manageable, and the bureaucracy works, and they can process all the applications in a timely manner,” Baum said.
The new FAFSA will first be used for students seeking aid for the 2024-25 school year.
Speaking of higher education, and the money it takes to pay for it, interest on existing student debt is set to start accruing again this Friday, Sept. 1. Payments will be due again in October.
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