Experts are concerned about the amount of federal student aid applications that have been submitted, and they may have reason to be worried.
The Hill reports that there has been a sharp drop in Free Application for Federal Student Aid (FAFSA) application submissions, which means that more prospective college students may miss out on funding assistance for their education and other school-related costs. The deadline to apply for the 2024–25 FAFSA form is June 30, 2025. Around this time of year, the usual applicant submission rate reached around 17 million; as of March, under 6 million have applied, the outlet said.
At this time last year, The Hill stated the applicant submission figures reached around 9 million.
But a Federal Student Aid rep shared in a note with ESSENCE that “at this time last year, the applicant submission reached around 9 million.”
Despite this, some officials are still concerned.
“I do think that because the FAFSA became available so much later than it did in a normal year and there were so many glitches at the beginning of the process that needed to be resolved, some of those folks who would normally file a FAFSA earlier in the process may have decided to set it aside temporarily,” Karen McCarthy, vice president for public policy and federal relations at the National Association of Student Financial Aid Administrators per the outlet.
Conversely, a Federal Student Aid rep clarified in a note to ESSENCE that “usually, the form is available from Oct. 1 until June 30 two years later. For example, the 2022–23 FAFSA form launched on Oct. 1, 2021, and closed on June 30, 2023. There are always two FAFSA cycles open at the same time. Currently, the 2023–24 and 2024–25 FAFSA cycles are open. The 2023–24 FAFSA cycle launched Oct. 1, 2022, and will close June 30, 2024; the 2024–25 FAFSA cycle launched Dec. 30, 2023, and will close June 30, 2025. At this time last year, nearly 9 million 2023–24 FAFSA forms were submitted. On average, approximately 17.5 million FAFSA forms are submitted each FAFSA cycle.”
Nonetheless, there seems to be a downshift in applicant rigor this FAFSA as compared to prior years.
Black Enterprise also points out that the National College Attainment Network (NCAN) saw a 34 percent decrease in FAFSA applications from high school seniors compared to the prior year.
Delayed data transmissions to schools may be the cause for the significant decrease in applicant submissions. There has also been heightened distrust in the benefit higher education serves as student loan debt continues to soar and the US labor market flounders.
As ESSENCE previously reported, Intelligent.com’s Nov. 29 report found that forty-five percent of companies plan to eliminate bachelor’s degree requirements for some roles starting next year.
“Due to the expense of attending college, earning a bachelor’s degree is generally more difficult for people from traditionally marginalized groups and those from lower socioeconomic backgrounds,” Diane Gayeski, higher education advisor for Intelligent.com and professor of strategic communication at Ithaca College, said in a statement.
She adds: “If a student’s parents didn’t attend college or if they are from outside the U.S., it can be much more difficult to know how to navigate applying to colleges and finding scholarships and other resources,” she said. “Eliminating a bachelor’s degree can open jobs up to individuals who weren’t able to attend college.”