Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
The U.S. Department of Education has announced the completion of FAFSA reprocessing to address various issues related to incorrect Student Aid Index calculations and financial aid eligibility.
All known issues have been resolved and should allow all institutions to assemble offers of assistance, including those institutions that wished to wait for any reprocessed documentation before proceeding.
The reprocessing included updates to key financial data such as education tax credits, adjusted gross income (AGI), and filing status for taxpayers who had amended tax returns or updated their tax information. The Education Department had originally targeted May 1 for multiple editions to be completed, but completed the reedit over the weekend.
However, the current announcement highlighted that only 8.2 million FAFSA forms were processed and sent to institutions. At this point, well over 10 million forms should have been submitted and processed, as approximately 17 million forms are typically processed each year. This is a significant decrease in FAFSA applications.
FAFSA applications are moving forward
Approximately 8.2 million FAFSA-ISIRs have been submitted to educational institutions, states, and certain scholarship organizations. The department has also successfully processed nearly one million corrections to FAFSA applications, significantly reducing the turnaround time for updates to ISIRs, which now ranges from one to three days after submission.
To further support students and their families, the department is actively reaching out to those who need to make corrections to their applications or who have started but not yet completed their FAFSA forms. Regular communication efforts are underway to promote completion, which is critical to accessing potential financial assistance.
Finally, the Department urges states and schools to continue their outreach to students, particularly those who have been admitted, who have not yet submitted a FAFSA, and those who have begun the application process but have not yet completed it. This is critical to ensure that all students have the opportunity to secure the financial support they need for their educational pursuits.
Don't miss these other stories:
Create your very own Auto Publish News/Blog Site and Earn Passive Income in Just 4 Easy Steps
