Miguel López The Education Department, under President Joe Biden’s administration, is set to unveil an update to the Free Application for Federal Student Aid (FAFSA) that will expand eligibility for Pell Grants, making financial aid more accessible to millions of students.
Aligning with the FAFSA Simplification Act
In line with the FAFSA Simplification Act, the department’s update to the FAFSA formula aims to broaden the scope of Pell Grants and link eligibility to factors such as family size and federal poverty level. This adjustment, scheduled for the 2024-2025 school year, is expected to render an additional 7.3 million students eligible for Pell Grants.
Under Secretary of Education James Kvaal emphasized that the update focuses on assessing students’ affordability based on their earnings and assured that it will not disrupt the department’s timeline to dispatch completed applications to schools by the first half of March.
Commitment to Accessibility and Transformation
Education Secretary Miguel Cardona underscored the department’s commitment to enhancing access to higher education. He lauded the technical updates to the FAFSA, asserting that they will not impede implementation timelines. Cardona expressed confidence that the Better FAFSA initiative will amplify the number of students eligible for Pell Grants in the upcoming academic year.
Collaborative Implementation Efforts
Following the announcement, the Education Department is poised to collaborate with educational institutions to integrate the latest FAFSA formula update. Additionally, Federal Student Aid staff will embark on visits to schools nationwide to ensure readiness in processing student aid packages efficiently.
Addressing Previous Challenges
The recent update follows a series of challenges encountered during the FAFSA rollout. Delays in sending FAFSA forms to schools sparked concerns among advocates and lawmakers. Despite these setbacks, colleges like the University of Pittsburgh have adjusted their commitment deadlines to accommodate students reviewing financial aid packages.
Encouraging Flexibility and Student-Centric Policies
Under Secretary Kvaal commended schools for extending commitment deadlines to provide students with more flexibility. He urged other institutions to assess their financial aid timelines, prioritizing the best interests of students in the application process.
The Education Department’s latest update to the FAFSA underscores its commitment to fostering accessibility and affordability in higher education, ensuring that more students have the opportunity to pursue their academic aspirations without financial barriers.
