"The botched rollout of a revamped process to apply for federal financial aid could have long-lasting effects, with students receiving less money for college this fall and others so fed up they’re delaying their educations," The 74 reports.

... "At the same time, her staff is grappling with a new setback — a backlog of corrections the department won’t accept until August. Those revisions ultimately affect how much money colleges can offer students, especially those whose financial circumstances changed since they first applied."

"'Say a family member loses a job or there are medical expenses,' explained Jill Desjean, director of policy analysis at the National Association of Student Financial Aid Administrators. In those cases, schools might issue a new offer to make tuition more affordable, but those figures won’t be official until the education department approves them."

"Currently, colleges can only submit such changes one at a time."

"'It’s manual and it’s way more work,' Desjean said."

... "But colleges are taking risks when they use their own funds to lower tuition costs for students, said Desjean, with the National Association of Student Financial Aid Administrators."

"'Not all schools can afford to front their own money while waiting for the federal dollars,' she said. 'But it’s great to see that those who are able are doing what they can to minimize harm to students.'"

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: 7/17/2024