Change in FAFSA for Students

• Chris The Grad
• 0 Comments
• October 5, 2023

For many years, FAFSA has helped students afford college. Recently, it has made a massive difference in my ability to pay for college. I find the application very wordy and feel like so much information must be entered only to wait for a few numbers and information. Let’s be honest, there are many factors to consider when estimating the cost of schooling. Is anyone really interested in sitting down and filling out this nonsense? It can be tedious to answer these questions, even if you know the answers. However, the FAFSA application has recently taken a different approach. Will this affect the application process and will it improve it?

The FAFSA is a way for students and parents to receive aid and grants for college. The new approach makes it easier to fill out the application by using IRS data to autofill sections. This makes the process quicker and more accurate. It is expected that more students will now be able to take advantage of the aid available. From experience, using FAFSA in the recent year, I feel this can be a great change. This can make it easier for parents to input information, especially for parents new to the process. And for those parents who are more experienced, they’ll be able to fill out their forms in record time!

How does this new wave of FAFSA affect students? With this new system, students will have access to more financial aid opportunities, making college more accessible and affordable. Additionally, the time saved by the streamlined process can be used to focus on other aspects of college preparation. I also find the change in EFC to be an interesting concept. Originally, EFC stood for Expected Family Contribution. This lets users know how much money a family would have to go to college. Now after the change, this will be called the SAI. A student’s Student Aid Index indicates what types of federal aid they are likely to receive. For instance, if a student’s SAI is high, they are likely to be eligible for grants and subsidized loans, whereas a student with a low SAI would only be eligible for unsubsidized loans.

Overall I believe the FAFSA change could help students and parents become more successful with financial aid for college. The change should also help reduce the stress and confusion of completing the FAFSA as the new system streamlines the process. This could lead to an increase in the number of students who access federal aid to help pay for college. By making the FAFSA system easier to use, it could prove to be an invaluable tool in helping students achieve their educational and financial goals. Of course, the real challenge will be getting students to actually fill out the FAFSA – but if they can figure out how to order pizza online, this should be a piece of cake!