A simplified student financial aid form finally will be launched by year-end, but the delay from its usual Oct. 1 date will make getting financial aid anything but simple, experts say.
The new Free Application for Federal Student Aid (FAFSA) for school year 2024-25 will be shorter than in the past (just 36 questions compared to 108); allow you to transfer tax data directly from the IRS; and include new formulas that should grant more aid to more students.
However, its availability to students and families is about three months later than usual – with the information sent to schools even later. Schools can begin receiving aid eligibility information by the end of January, the Department of Education said.
The string of delays, experts warned, will mean students and families will receive their aid offers later and must decide more hastily which college to accept and put a deposit on by the May 1 deadline, in the best-case scenario. In the worst case, students may end up leaving money on the table, experts say.
“I do worry that the compressed process is going to result in students missing out,” said Shannon Vasconcelos, Bright Horizons College Coach, a unit of child care operator Bright Horizons.
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How might students miss out on eligible aid?
Multiple points in the process that could trip people up:
◾ The tighter timelines for students and families to complete the form and then, for schools to process and determine aid amounts…
