Changes In The FAFSA: What Every High School Student & Parent Needs To Know

The president decided to make changes to the FAFSA process for the following reasons:

1. To align the financial aid process to the college admission process.
2. To take the pressure off parents to quickly prepare their tax return.
3. To alleviate the need for families to estimate their income when applying for financial aid.                             

See the table below for an overview of the upcoming FAFSA changes.

When a Student Is Attending College (School Year)	When a Student Can Submit a FAFSA	Which Year’s Income Information Is Required
July 1, 2015–June 30, 2016	January 1, 2015–June 30, 2016	2014
July 1, 2016–June 30, 2017	January 1, 2016–June 30, 2017	2015
July 1, 2017–June 30, 2018	October 1, 2016–June 30, 2018	2015
July 1, 2018–June 30, 2019	October 1, 2017–June 30, 2019	2016

      Source: StudentAid.ed.gov website

See resource: FASFA Changes 2017-18

 

1. Information for Students Regarding FAFSA Changes

Why the FAFSA?

The US Dept. of Education claims completing the FAFSA is the single most important act in determining financial eligibility for college.  Fast Web adds that completing the FAFSA puts students at an advantage of receiving federal, state, and/or school aid.  So, the FAFSA is important to determining the amount of money students will receive for college.  However, many students and their families fail to complete this free application each year.  Let's talk about the problems with the current FAFSA.

 

Problems with the FAFSA

Hey, come back here!!

Many researchers believe the FAFSA is completely unnecessary, and contains information that is already available from the IRS. Even though Congress has tried to simplify the FAFSA, the Dept. of Education has continued to add questions to this already complex form.  In  ablog post by Susan M. Dynarski of the Brookings Institute, she points out some great reasons why the FAFSA is really unnecessary. 

1.  It's too complex; and, many families don't understand how to complete it.

2.  Many of the questions are totally unnecessary.

3.  The information can be provided by the IRS.

4.  It deters college admission particularly for low income students.

 

What Can Counselors Do to Encourage Families to Complete the FAFSA?

Change your financial IQ!

One of the initiatives of the First Lady is to help students understand the financial aid process.  So who do you suppose high school families and students come to for help?  You guessed it...you, their school counselor.  The problem is that the majority of school counselors are clueless or uncertain about the financial aid process, including myself.  Here are some suggestions about improving your financial aid IQ.



1.  Get training!  The good news is that training is free from US Dept. of Education Financial Aid Toolkit.