"The U.S. Department of Education is updating the new Free Application for Federal Student Aid again. This time, it’s fixing a $1.8 billion mistake," The Sacramento Bee reports.

... "The department said it would add adjustments for inflation to accurately reflect family income, resulting in more students able to qualify for federal financial aid, according to a news release from the National Association of Student Financial Aid Administrators."

"'Adjusting these inflationary numbers is the right thing to do, and should have been done from the beginning,' NASFAA President Justin Draeger said in a statement. '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.'"

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: 1/25/2024