Can you tell me when FAFSA opens? Do you know when the deadline is?What about the changes made with the entire process to make it easier for students? It’s time to pay attention, guys. Why? According to Kim Cook, Executive Director of the National College Access Network, over 1.4 million students left $2.7 billion in financial aid on the table by not completing the FAFSA. That’s money for your education that was wasted. But like I said, changes were made so you can complete your FAFSA easier this year. Here are some changes:
Students can more easily transfer their tax information because it’s currently available tax data. In the past, students were asked to transfer the date that wasn’t available until tax filing deadlines.
Students don’t have to think about which colleges they would apply or go to before they had any sense of their aid eligibility, never mind what they will have now, which is a commitment of federal student aid on the front end as they go into their college search and application time.
Student will have an early commitment of at least their federal aid, so a low-income student who receives a Pell Grant and subsidized loans could have up to $11,500 of a commitment as they look around and make the important decision of which college to go to and if it’s affordable.
Some factors to be aware of: type of household that you’re in, if you have other siblings in school, the number in college, whether your family qualifies for other federal means-tested benefits, where you go to college.