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New, Streamlined FAFSA® Available Dec. 31: What Families Should Do Now to Get Prepared and Why Filing As Soon As Possible Is So Important
Almost 30% of College-Going Families Skipped The FAFSA® Last Year, Potentially Missing Out on Grants, Scholarships, and Federal Financial Aid Sallie Mae
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[{"type":"text","content":"\nAlmost 30% of College-Going Families Skipped The FAFSA® Last Year, Potentially Missing Out on Grants, Scholarships, and Federal Financial Aid\n\n\nSallie Mae Introduces Free, Step-by-Step Guide to Help More Families Complete the FAFSA®\n\n\n NEWARK, Del.--(BUSINESS WIRE)--\nThe Free Application for Federal Student Aid (FAFSA®) is the gateway to accessing more than $100 billion in grants, scholarships, and federal financial aid for higher education, and a new, streamlined application will be available on Dec. 31. Now is the time for families to get prepared to complete this all-important form, and Sallie Mae has a free, step-by-step guide to help families get in line for free money for higher education.\n\n\n“Submitting the FAFSA® on, or as close to Dec. 31 is critical since some aid is provided on a first-come first-served basis,” said Rick Castellano, vice president, Sallie Mae. “The good news is the streamlined FAFSA has fewer questions and should expand Pell Grant eligibility for those students and families who need the most support.”\n\n\nRoughly 30% of families reported skipping the FAFSA last year. Among the main reasons for not completing, families believed their income was too high to qualify for aid, (29%), the application was complicated and confusing (20%), and they did have the correct information to complete the form (19%).\n\n\nIn addition to fewer questions and expanding eligibility for federal financial aid, the new FAFSA will offer an updated user experience, including role-based questions specific for students and parents, and a simpler process to submit financial information through IRS data. The number of family members in college is no longer factored into the federal formula, however, which could impact those students who have siblings in college at the same time.\n\n\nSallie Mae offers the following tips from its new, free FAFSA® resource to help families prepare and complete the updated form with confidence:\n\n\n\nDo your homework before you file — While the new FAFSA® form should be easier to complete this year, families will still need to prepare ahead of time. Students need a Federal Student Aid (FSA) ID, and unlike previous years, they can no longer start the FAFSA® without already having it. Students should make an ID at least 3-5 business days before they plan to apply.\n\n\n\nCheck additional de...