Potential Decline in College Enrollment due to FAFSA Issues, Experts Warn

Last Updated on April 17, 2024 by Robert C. Hoopes

FAFSA Completion Rates Drop, Worrying Experts

The completion rates for the Free Application for Federal Student Aid (FAFSA) have seen a significant decrease compared to last year, with only 31% of the high school class of 2024 having completed the form as of March 8. School counselors and financial aid experts are expressing concerns about this drop, as completing the FAFSA is crucial for students to access federal aid money, including loans, work study, and grants.

Students are feeling frustrated and uncertain about their chances of receiving financial aid for college, as the FAFSA is the gateway to accessing these crucial funds. The new aid formula could potentially make an additional 2.1 million students eligible for the maximum Pell Grant, which is a significant increase. However, despite this new formula, the number of Pell Grant recipients is not expected to rise due to the slower pace of FAFSA applications.

FAFSA simplification was implemented with the intention of increasing the number of lower-income students applying for financial aid, but the decline in completion rates is causing concern among experts. FAFSA completion is essential for students to pave the way for college and receive the necessary financial assistance to make their higher education dreams a reality.

As we continue to navigate the challenges of accessing higher education during the ongoing pandemic, it is crucial for students to prioritize completing the FAFSA to ensure they are able to access the financial aid they need to pursue their academic goals. Experts are urging students to not delay in completing the FAFSA to secure their future opportunities for higher education.