For the first time in decades, big changes have been made to the Free Application for Federal Student Aid (FAFSA) for colleges. We know that navigating the financial aid process can be challenging, but Neumann University is here to help.

Francesca Reed, Neumann’s VP for Enrollment Management and Marketing, breaks down what prospective students and their families need to know when applying for financial aid:

• More students will receive need based financial aid grants that won’t need to be repaid.

• The U.S. Department of Education recently said that up to 1.5 million more students will receive maximum Pell Grant eligibility. Moreover, 610,000 students across the nation will be eligible for Pell Grants.

• The application will take less time to complete. There are fewer questions for families to answer and the language is more straightforward and streamlined. Some families will be able to complete the form in under 10 minutes!

• You can also designate up to 20 colleges in your FAFSA application – twice as many as before. This will lead to people applying to more colleges than prior years.

• The new application is available in 11 different languages.

Watch Fran Reed below on NBC 10

It’s important to be patient. The transition year has brought delays, and that means decisions from financial aid offices at colleges/universities will also be delayed and not available until mid-March 2024. In the meantime, make sure to create your FSA ID if you haven’t already. The student and anyone considered a contributor would need to create one. For more information on the changes and creating your FSA ID, go to studentaid.gov.

If you need help throughout the process or have lingering questions, please reach out to our financial aid office or join one of our Financial Aid 101 Sessions. Our counselors are prepared to advise students and families and guide them through the changes.