Financial Aid Postponed for 2024
The US Department of Education announced on Jan. 30 that they would not be sending students’ FAFSA (Free Application for Federal Student Aid) data to schools until the first half of March. This setback is one of many that the department has faced during the 2023-2024 school year—most notably, the delayed launch date for the 2024-2025 FAFSA form from October 2023 to Dec. 31, 2023; and the previous announcement that students’ FAFSA data would be released to schools at the end of January.
The main reason for this delay is that the department is fixing a $1.8 billion miscalculation. The department’s FAFSA math—which decides how much aid a student gets—would have made some students and families appear to have more income than they do, resulting in less aid. This would have allowed low income students and families to receive less aid than they were eligible to receive.
Undersecretary of Education James Kvaal stated that, “Updating our calculations will help students qualify for as much financial aid as possible.”
This, however, is not the only change the department has made to this year’s FAFSA. Because of the Biden-Harris Administration’s commitment to making higher education possible for more students, FAFSA faced a massive overhaul that simplified the process, making the form more accessible and easier for low-income families to prove their low-income status. Nonetheless, financial aid offices across the country are not entirely sure what to expect from the FAFSA data they will be receiving.
Because schools rely on FAFSA data to determine what financial aid students receive and how much of their institutional funds to give out in the form of non-repayable grants, many of them will be unable to send out financial aid offers to incoming students until April, leaving less than a month for students to commit to a college.
What does this mean for Whittier College students?
According to the Whittier College website, approximately 85 percent of students receive some form of financial aid. Furthermore, despite the College experiencing a steep drop in enrollment due to the COVID-19 pandemic and the abrupt cancellation of three sports programs, Interim Vice President of Enrollment Ken Woods noted that the College has recently seen a 35 percent increase in enrollment for the Spring semester. This spike in enrollment can be attributed to the short-range plan President Kristine Dillon implemented at the beginning of her tenure.
Woods also stated that the “goal is to bring in a class of about 405 students” for the upcoming Fall 2024 semester. To do this, the admissions team has taken several steps to make the College attractive to a diverse student population, namely by advertising the College as a Hispanic Serving Institution (HSI) and by participating in Black Exposition Fairs that are specifically curated for underrepresented students.
The US Department of Education’s decision to delay releasing FAFSA data threatens the College’s attempts at attracting underrepresented students. According to Forbes, Black and Latino Americans are much more likely to belong to the low-income class. Although a recent report attests that Black Americans are experiencing upwards movement in terms of income as well as moderate gains for Latinos, much of the Black and Latino American populations remain in the low-income margin.
Prior to the department’s announcement, the College indicated via email that financial aid will be disbursed at the end of the first week of the Spring semester. The College has not yet released a statement about the state of financial aid following the department’s announcement.
Justin Drager, president and CEO of the National Association of Student Financial Aid Administrators (NASFAA) commented on the problems that may arise from this: “Schools are furiously reworking their timelines to see just how quickly they could turn around financial aid offers for students, to get them accurate aid offers as soon as possible. This could be difficult for under-resourced institutions that lack the funding, staffing, or technology capabilities of their peers.”
As the cost of living rises and America’s middle class shrinks, more than 17 million students depend on government funds to help cover the cost of college. This aid comes in the form of federal student loans, work-study, and Pell Grants for low-income students. However, the department’s decision to delay sending out FAFSA data leaves millions of students and their families uncertain of how much they will have to pay for college this Fall, particularly for low-income students, for whom federal loans can determine whether they can start, continue, or finish a program.
To apply for financial aid, or to get more information, visit studentaid.gov. You may also direct specific questions fao@whittier.edu or 562.907.4285. Make sure to include your student ID number when emailing and leaving a voicemail.
Photo courtesy of Getty Images.
