Key Takeaways
- The Department of Education announced recently that student applications for financial aid (FAFSA) for the 2024-2025 academic year will not be available for U.S. colleges and universities to review until at least March.
- Colleges and universities will have less time to determine financial aid packages for students and aid offers could be delayed.
- The current expected timing would leave students with less than a month before they’re typically expected to commit to a college (May 1), so many schools could extend their deposit deadlines.
- The potential delay in financial aid offerings to students could affect college and university matriculations, as well as fiscal 2025 operating budgets if fall 2024 institutional financial aid ends up being materially higher than anticipated.
12 Feb, 2024