- Solely 42.5% of highschool seniors have competed the FAFSA, a lower of 14.4% in comparison with the prior yr
- Nevada, Florida, Utah, Arizona, and Alaska are the states with the bottom completion charges
- Decrease FAFSA completions signifies that fewer households will obtain need-based monetary assist for faculty (and even attend school to being with)
Solely 42.5% of the highschool class of 2024 has accomplished the FAFSA as of Might 24, in accordance with the newest information from the Nationwide Faculty Attainment Community. That is 14.4% beneath the completion charge of the category of 2023 at this identical time final yr.
This enormous decline might be attributed to the Division of Training’s failed FAFSA rollout and steady delays even after it launched. The Division of Training has been pushing to extend FAFSA completions by way of varied outreach initiatives, however as summer season approaches for seniors, FAFSA completions have plateaued.
NCAN FAFSA Tracker as of Might 24, 2024
Although many faculties have prolonged their monetary assist deadlines, by not finishing the FAFSA, households are doubtlessly lacking out on monetary assist – together with Pell Grants. Moreover, with out receiving monetary assist, many specialists fear that school enrollment will decline as households resolve they can not afford it.
FAFSA Delays And Botched Rollout
The FAFSA usually opens for completion in October, and households can being the monetary assist course of effectively earlier than deciding on school enrollment (which occurs the next Might).
Nonetheless, this yr, the FAFSA opening was delayed till the final days of December, and processing was delayed all the way in which till late-March (by way of Might). Even as soon as FAFSA submissions had been opened, households confronted problems with inaccurate information requiring reprocessing, and a myriad of different errors.
The tip result’s that households had been flying blind into school admissions season – doubtlessly having to make enrollment choices with out even understanding the price of school.
Associated: Most Costly Schools In 2024
States With The Highest And Lowest Completion Charges
Based mostly on the newest information from NCAN, listed below are the states with the very best and lowest FAFSA completion charges:
Highest FAFSA Completion Charges
- Tennessee – 56%
- Louisiana – 53.8%
- Illinois – 53.2%
- Washington D.C. – 51.8%
- Texas – 51.3%
Lowest FAFSA Completion Charges:
- Alaska – 22%
- Utah – 27.4%
- Arizona – 29.2%
- Florida – 29.9%
- Nevada – 31.2%
What This Means For Households
Whereas the FAFSA submission deadline has handed for a lot of states and faculties, that does not imply you should not apply.
The FAFSA can unlock each federal Pell Grants and pupil loans, which might be worthwhile choices for college kids to pay for faculty.
Moreover, some faculties should be capable to award scholarship and grant cash for eligible college students. Nonetheless, they may want that FAFSA to validate monetary want.
Lastly, some benefit scholarships, despite the fact that they’re merit-based, require the FAFSA to be accomplished.
The underside line is that households ought to nonetheless fill out the FAFSA if they’re planning to attend school this fall.
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