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Calculation Error

All articles tagged with #calculation error

education1 year ago

"Education Department's FAFSA Calculation Errors Impact Hundreds of Thousands of Students"

The U.S. Education Department has identified a calculation error in over 200,000 student financial aid applications, necessitating a reprocessing of these applications and potentially causing further delays in this year's college application process. The error, related to the Student Aid Index formula, resulted in an underestimation of students' financial need. This latest blunder adds to a series of delays and technical glitches in the overhaul of the Free Application for Federal Student Aid (FAFSA), raising concerns about the impact on students' college decisions and prompting Senate Republicans to request a hearing with Education Secretary Miguel Cardona.

education1 year ago

"FAFSA Delays: Education Department Accused of Negligence, Lawmakers Extend Deadline"

The Department of Education has identified a vendor's calculation error affecting several hundred thousand financial aid forms, potentially causing further delays in students' aid awards and college decisions. This adds to the complications in the FAFSA process, which has already been marked by delays and glitches after the release of an updated version of the financial aid form. The error impacts ISIRs sent to schools prior to March 21, but the Department of Education has provided workaround instructions for colleges to process the affected ISIRs. The new FAFSA version, released at the end of last year, is expected to make more students eligible for financial aid, but its implementation has faced criticism and delays.