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Wednesday, July 19, 2017

System Financial Aid Council (SFAC) news (July 2017)

2017-18 financial aid awards
Now that the Board of Regents has approved the budget and set tuition and fees for the upcoming year, SF-IT, FA-IT and Office of Student Finance financial aid staff are busily inputting the figures and creating actual financial aid packages for students on all campuses.

Impact of Prior Prior Year (PPY) and early FAFSA filing date
Sometimes policy changes work as intended. As we enter into the second year of the early FAFSA and PPY, the National College Access Network (NCAN) looked at the numbers from the US Education Department’s Office of Federal Student Aid and found that the high school class of 2017 filed 9% more FAFSAs by June 30 than the class of 2016, an increase of 178,000 more students--over 2.1 million in total. Overall, 61% of high school seniors this year filed the FAFSA by June 30, compared to 56% in 2016.

By the end of December, 1.1 million high school seniors--about a third of all seniors nationally--had already filed their FAFSA before it would have even been available to them in the past. The University did experience higher than normal FAFSA submission levels. (Excerpted from NASFAA News)

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