2008 Woodie Awards
Forecast looks good for FAFSA
By: Megan Connelly
Issue date: 4/5/07 Section: News
Students who must file the Free Application for Federal Student Aid got an opportunity to lighten their load April 1.
The new FAFSA4caster, which went online April 1, is expected to significantly reduce the time it takes to complete the actual FAFSA, because information entered into FAFSA4caster will be automatically filled in for 51 of the 102 questions on the FAFSA. This could jump-start the tedious filing process for college students. The Web site instantly calculates a student's eligibility for federal student aid, including Pell grants and subsidized loans, when tax information is entered.
The new tool also aims to give students a head-start with their financial planning. U.S. Secretary of Education Margaret Spellings announced plans March 21 for the new online FAFSA4caster to help students and families prepare for college before a student's senior year of high school.
"Improving college access and affordability are key to giving more Americans a chance at higher education and keeping America competitive," Spellings said in a press release. "Families need more information - sooner - about students' federal aid eligibility so that they can plan ahead for college. The FAFSA4caster gives families an important tool they can use to make decisions about the future."
Webster Director of Financial Aid Jon Gruett said he is unsure how the FAFSA4caster will affect his department. He is waiting to see what the actual product looks like and how he can integrate it into the Financial Aid Office's services. He expects the new Web site will operate much like the FAFSA Web site, the only difference being that it's targeted at students in their junior year of high school, Gruett said.
"That's the point at which they start planning on going to college and how they're going to pay for college," Gruett said. "That's something that weighs on a family's mind."
Similar to the FAFSA, the FAFSA4caster provides the estimated family contribution, and that in turn shows what can financial aid can be expected. The difference between family contribution and the cost of education determines the amount of federal assistance.
The new FAFSA4caster, which went online April 1, is expected to significantly reduce the time it takes to complete the actual FAFSA, because information entered into FAFSA4caster will be automatically filled in for 51 of the 102 questions on the FAFSA. This could jump-start the tedious filing process for college students. The Web site instantly calculates a student's eligibility for federal student aid, including Pell grants and subsidized loans, when tax information is entered.
The new tool also aims to give students a head-start with their financial planning. U.S. Secretary of Education Margaret Spellings announced plans March 21 for the new online FAFSA4caster to help students and families prepare for college before a student's senior year of high school.
"Improving college access and affordability are key to giving more Americans a chance at higher education and keeping America competitive," Spellings said in a press release. "Families need more information - sooner - about students' federal aid eligibility so that they can plan ahead for college. The FAFSA4caster gives families an important tool they can use to make decisions about the future."
Webster Director of Financial Aid Jon Gruett said he is unsure how the FAFSA4caster will affect his department. He is waiting to see what the actual product looks like and how he can integrate it into the Financial Aid Office's services. He expects the new Web site will operate much like the FAFSA Web site, the only difference being that it's targeted at students in their junior year of high school, Gruett said.
"That's the point at which they start planning on going to college and how they're going to pay for college," Gruett said. "That's something that weighs on a family's mind."
Similar to the FAFSA, the FAFSA4caster provides the estimated family contribution, and that in turn shows what can financial aid can be expected. The difference between family contribution and the cost of education determines the amount of federal assistance.
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