"FAFSA Updates: Maximizing Student Aid for 2024-25 Education Cycle"

The U.S. Education Department has acknowledged a $1.8 billion mistake in the Free Application for Federal Student Aid (FAFSA) and plans to rectify it for the 2024-2025 award year. The error could have led to some students and families receiving less aid than they should have. Financial aid offices are concerned about the impact on students, as the delay in fixing the mistake is affecting their ability to provide accurate financial aid information. The department's decision on how and when to fix the error will have significant implications for universities' financial aid timelines and could potentially discourage lower-income students from pursuing higher education.