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The update is slated to bring in an additional $1.8 billion in need-based student aid, but the timing may impact the federal financial aid timeline. Most recent update to the new FAFSA was a ...
The funding pause also applies to “other relevant agency activities that may be implicated by the executive orders, including, but not limited to, financial assistance for foreign aid ...
When does FAFSA 2025-26 open? According to the Federal Student Aid website, the Free Application for Federal Student Aid, also known as FAFSA, will be available to all students and families on Dec. 1.
The American Rescue Plan Act of 2021, also called the COVID-19 Stimulus Package or American Rescue Plan, is a US$1.9 trillion economic stimulus bill passed by the 117th United States Congress and signed into law by President Joe Biden on March 11, 2021, to speed up the country's recovery from the economic and health effects of the COVID-19 pandemic and recession. [1]
The bill contained an extension of government funding to March 14, 2025, a one-year extension of the farm bill, and $110 billion in disaster aid. [20] The bill, which was 1,547 pages, was described as a Christmas tree bill due to its inclusion of unrelated policy riders. [21]
The US Department of Education made the FAFSA available earlier to more closely align the timing of the financial aid application process with the typical college application process. [7] The FAFSA Deadline Act in 2024 made the October availability date part of the law. [8]
Claiborne Pell. The Higher Education Amendments of 1972 reauthorized the three campus-based programs, leaving the Economic Opportunity Grant Program with the same name, but renaming the two others: the National Defense Student Loan Program became the National Direct Student Loan or Federal Direct Student Loan Program and the Federal Supplemental Educational Opportunity Grant Program ().
In 2021, student loan servicers began dropping out of the federal student loan business, including FedLoan Servicing on July 8, Granite State Management and Resources on July 20, and Navient on September 28. [40] According to Sallie Mae, as of 2021, 1 in 8 families are using private student loans when federal financing does not cover all ...