"Low-income students will get more help paying for college next year thanks to a new, more generous formula for awarding federal financial aid," Money reports.

... "Now, the Education Department says schools may have to even wait longer to receive information submitted by students on the FAFSA, posting in a separate notice Wednesday that schools could expect the information 'by the end of January 2024.'"

"That would delay when families can expect to receive financial aid offers. Colleges can't start packaging financial aid awards until they receive that information from the Education Department, and financial aid offices receive the information, distributing offers will likely take at least several more weeks, according to Justin Draeger, president of the National Association of Student Financial Aid Administrators."

"Any significant delay in sharing applicant data with schools would leave 'the most vulnerable student populations in limbo as they wait for the financial aid information they need to make vital college-going decisions,' Draeger said in a statement."

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: 11/15/2023