Navigating recent FAFSA changes: What students need to know

This article has been updated with the latest information regarding the FAFSA and 2024-2025 financial aid timeline.

As college students and their families eagerly await their financial aid offers, issues with the process began with the delayed release of this year’s Free Application for Federal Student Aid (FAFSA). (The FAFSA is typically released in October but was not available until late December 2023.) Now, a series of errors may impact the amount of federal financial aid students receive and cause additional headaches and delays.

The inflation adjustment dilemma

The changes to this year’s FAFSA sought to extend Pell Grants and financial aid to more students, but an error that did not account for inflation meant students who would otherwise receive the Pell Grant could be deemed ineligible or receive less aid. The Washington Post first reported the error and outlined the possible repercussions in December.

In late January, a spokesperson for the U.S. Department of Education said the inflation mistake would be fixed in time for the 2024-2025 academic year. This adjustment, mandated by Congress, aims to ensure that students receive the intended levels of federal aid.

 

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