Giving Compass' Take:
- Danielle McLean reports that only 29% of families polled said that completing the updated FAFSA was easier than previous years' forms.
- What is the role of donors and funders in removing barriers to financial aid for prospective and current college students?
- Learn more about key issues in education and how you can help.
- Search our Guide to Good for nonprofits focused on education in your area.
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Delays and technical glitches during the rollout of the updated Free Application for Federal Student Aid caused challenges and stress for many families completing the updated FAFSA to receive financial aid, a new survey from Sallie Mae and Ipsos found.
Just 29% of polled families found the updated form easier to complete than the older version. Yet respondents indicated that financial aid matters when selecting where to enroll, with 36% of students saying the scholarships and financial aid they receive play a role in their ultimate decision.
“That confusion, those delays had an impact on students and families,” said Rick Castellano, vice president of corporate communications at Sallie Mae. “Those who are disproportionately hurt the most are those who would probably be most eligible for support.”
Despite the overwhelmingly high sticker price of college, the recent survey of 1,000 undergraduate students and 1,000 parents, conducted from April 8 to May 14, suggested that many families still believe in the value of higher education despite the difficulty of completing the updated FAFSA.
Among the respondents, 88% agreed that college is still an investment in a student’s future and 86% said they believe earning a degree will create opportunities they wouldn’t be able to reach otherwise.
And they’re willing to shell out big money for higher education. In the survey, 79% of students and parents said they’d stretch themselves financially to get those opportunities.
But the cost of attending is still a big factor, as many look at the price of attending a college and the amount they will receive in scholarships and financial aid when deciding where they would like to attend.
Moreover, sticker shock is very common, Castellano said, even when the cost of attending is actually less than advertised. FAFSA should alleviate some of this stress on students and their families, but the updated FAFSA being so challenging to complete complicates this.
Read the full article about the updated FAFSA by Danielle McLean at Higher Ed Dive.