Question of the Day: FAFSA Applications for financial aid have _________ by ___________% compared to last year.
Hat tip to Brian Page who highlighted this trend.
Answer: FAFSA applications have declined by 17% compared to last year.
- Has COVID-19 changed your plans after high school?
- For those considering college, why is filing the FAFSA so important?
- FAFSA applications are a good proxy for students applying to college. Do you think this decline is temporary or permanent (i.e., that fewer students will apply to colleges this year)?
Behind the numbers (WSJ):
The Fafsa form opens a spigot of federal, state and institutional loans and grants...
With many parents out of work, high-school classes held online and a public health crisis bearing down across the country, students’ priorities and aspirations may have shifted.
Mr. DeBaun said that in the hierarchy of needs for many high-school students right now, basics like food, shelter and an internet connection to attend classes rank far above crafting a list of target colleges and figuring out how to pay for them. “Those things are luxuries for a lot of families right now,” he said.
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.
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