There are several factors that influence where students choose to continue their higher education. However, one factor tends to rise above the rest: money.
Many students rely on loans, scholarships and other forms of financial aid to fund their college educations, but delays in the release of the updated Free Application for Federal Student Aid have left people unsure of where they stand.
The FAFSA Simplification Act, passed in 2020 and updated in 2022, revamped several aspects of the FAFSA and outlined a, “significant overhaul of the processes and systems used to award federal student aid starting with the 2024-25 award year.”
While the FAFSA usually rolls out on Oct. 1, this year’s updated application was not released until Dec. 31, 2023 with a submission deadline of June 30. Many students have encountered technological difficulties, with some still having trouble accessing the application.
“Students and families have encountered hours-long wait times and glitchy forms after the federal government unveiled a ‘streamlined’ process at the end of last year,” according to reporting from Mississippi Today.
In addition to changes to how financial aid eligibility is calculated — like replacing Expected Family Contribution with a Student Aid Index — families also encountered additional questions on sex, race and ethnicity, while questions on Selective Service registration and drug convictions were removed. For Mississippi residents seeking State Aid, there are additional FAFSA filing deadlines. The HELP Grant deadline is April 30. For students who wish to apply for the Mississippi Tuition Assistance Grant and the Mississippi Eminent Scholars Grant, the deadline is Oct. 15.
Although the changes to the application were meant to make filing for need-based aid more accessible, many students have struggled to adjust to the new process.
“It took me days to fill out,” freshman business major Braden Root said.
While current students like Root might not have as much reason for concern, the FAFSA changes have led to uncertainty among families of prospective students.
“My daughter really hoped to make an early decision, but that will not be possible until we know about financial aid and scholarship offerings,” Shannan Waits from Maurice, La., said. “The Ole Miss Financial Aid Office told us that it may be mid-April before they can send out that information.”
While the new application is open, final award offerings might not come in before college decision deadlines. Typically, high school seniors celebrate “Decision Day” on May 1.
In California, some colleges including University of California and California State University have extended their decision deadlines to May 15 due to the FAFSA challenges.
While these deadlines may complicate the situation for some schools, students with their sights set on UM have less to worry about, as the university does not have a set decision date.
“UM is a rolling admissions school that does not currently impose decision deadlines or confirmation deposits,” Laura Diven-Brown, UM director of financial aid, said.
Diven-Brown urged both new and returning students to fill out the FAFSA as soon as possible.
“The issue is that students and schools cannot get any results back right now. So no federal or need-based awards can be determined yet,” Diven-Brown said. “But I would urge everyone, new and continuing students, to file now so their data will be in the system when we get ready to award.”
While there is no decision deadline, some UM scholarships do have filing deadlines.
To combat these issues, the University of Mississippi has extended their priority filing deadline for scholarships like Ole Miss Opportunity, a need-based scholarship, from March 1 to June 1 for the 2024-25 school year.
“We know that students and parents are anxious about making plans for next year. They want to know what financial aid options are available before choosing a college,” Diven-Brown said. “So, financial aid and admissions are doing everything we can to provide information to them while we all wait for the FAFSAs to be processed.”
As of now, UM expects to begin making award offers around mid-April, but the university is flexible about students accepting award packages.
“We do want students to confirm that they are accepting their financial aid as well, which is done through myOleMiss,” Diven-Brown said. “But we are flexible about that, especially knowing that new students are still being admitted until fall starts. We won’t be canceling award offers unless we hear from a student that they are not attending.”
