Dive Brief:
- Utah has the lowest rate of FAFSA applications in the nation, but financial aid officers at the state’s universities hope policy changes around filing will help students get on track sooner.
- The Salt-Lake Tribune reports that many students start their first semesters before they get their financial aid disbursements, keeping them on shaky footing as they are expected to dive into college life.
- New filing deadlines mean this year’s high school sophomores will be able to apply for financial aid at the same time or before they apply for college admission, giving them answers up to three months before this year’s applicants will see them.
Dive Insight:
Changes to the FAFSA were announced in September, creating a shift in the financial aid process for the 2016-17 school year that lets students fill out the federal financial aid application as early as October. Families previously had to wait until Jan. 1, when their most recent year’s tax information was available. Students will now be able to use the prior year’s tax data on the form.
Sen. Lamar Alexander (R-TN) has his sights set on FAFSA reform in reauthorization of the Higher Education Act. The Obama administration’s changes were in response to years of criticism of the financial aid application, but no one considers them the extent of change to come. If Alexander has his way, the form could be reduced to just two questions. That, however, would almost certainly lead to a rush of companion forms so financial aid officers get the information they need to make institutional awards.