New FAFSA Issue Could Further Delay Financial Aid Awards

It's possible that colleges received inaccurate information regarding some families' finances after those applicants submitted the FAFSA to the DOE.

The Department of Education has revealed another issue impacting some college financial aid forms.

The problem involves tax data transferred from the IRS and impacts less than 20% or around one million of the FAFSA forms previously submitted by students and families this year.

It’s possible that colleges received inaccurate information regarding some families’ finances after those applicants submitted the FAFSA to the DOE.

The new error is the latest complication with this year’s process, which has been marked with delays and glitches.

Usually, colleges inform applicants by March referring to how much financial assistance they’ll receive. However, many are still waiting to hear back.

Colleges and universities then usually request students to make a decision to enroll and pay a deposit by May 1. However, due to the delays, many schools, have pushed back that date.