"FAFSA Overhaul: Implications for Partners and Students"
The Department of Education is providing technical updates on timelines for student corrections and reprocessing of FAFSA forms for the 2024-25 academic year. They have identified errors affecting FAFSA processing and are working to make corrections available to students early next week. Approximately 16% of FAFSA applications require student corrections, with the majority involving missing signatures and consent for tax information. Additionally, about 30% of FAFSA forms are potentially affected by known processing or data errors, and the Department plans to reprocess these records to ensure accurate financial aid eligibility. Schools and states are advised to use their judgment in making financial aid offers based on the original or reprocessed ISIRs. The Department will provide data to assist schools in identifying affected records and will continue to communicate updates as they work to resolve these issues.