Evening Edition’s Daniel Hartmann interviewed the Financial Aid Office about upcoming changes to the Free Application for Federal Student Aid. The FAFSA announced changes that will go into effect starting October 1st. Under the old filing system, students and parents would turn in their FAFSA after January first. With the change, financial aid is based off of “Prior-Prior Year”. This means for the 2016-2017 FAFSA, tax records from 2015 would be used.
This change benefits high school students by compressing the time line in which they get their aid. Now students can apply for a university and for aid at the same time. Families are recommended to get their FAFSA in as quickly as possible. Illinois families are especially affected by the development. Map Grant money runs out quickly, and the deadline for Map Grant money has not been set.