(see below for the full announcement.)
What does that mean?
Factually speaking, a student can fill out the FAFSA, and possibly get information on their financial aid eligibility for a college, almost 1 full year before they begin fall classes.
On the positive, financial aid packages can be created earlier, so that students can get a better idea of if they will receive financial aid at a particular school, or if they should apply for a different one (before those deadlines passes). Another possible positive may be that other financial aid forms , such as the CSS(which some private colleges require) may not be necessary. So possibly less paperwork, and less money (CSS charges a fee; FAFSA is always free, with it being the FREE Application for Federal Student Aid).
On the negative, financial aid deadlines will also be moved up, meaning things such as Illinois' MAP grant (worth up to $4700) will run out of money even sooner.
What you can/should do about it?
Plan to have a FAFSA completion service the first week of January. Whether it is on the actual holiday of New Year's, or the first Sunday, or during the week, the next round of financial aid won't begin until January 1, 2016.
Then immediately plan TWO big financial aid pushes for the following year. The first should occur near the first week of October 2016. Another alternative is to hold a FAFSA completion session on Columbus Day. Both Students and many parents should have that day off. Churches could hold their session on the holiday, or following their service on Sunday.
The second big push should continue to be either the first Sunday of the new Year, or starting in 2016, in December, when your returning college students are back as well.
See Do-Gooder's previous blog on planning a FAFSA completion session.
Here is the official announcement from the US Department of Education. They also have a PDF with FAQ's (Frquently Asked Questions) about this change.
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Federal Student Aid Outreach Team
830 First Street, NE
Washington D.C. 20202
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830 First Street, NE
Washington D.C. 20202
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Do-Gooder Consulting is a consulting firm for churches, nonprofits, and small businesses. We provide coaching and teaching on issues relevant to the field, and aim to "help you help others." Please contact us at 872-222-8008 or blog@do-gooder.us to see how we can help you and possibly other partners get your students to college -- and then graduate.