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In February and March 2024, scholarship owl We conducted a survey to better understand how we are rolling out new services. Free Application for Federal Student Aid (FAFSA) Influencing Generation Z students. The media has reported on a number of issues with the new FAFSA rollout, resulting in delays in students filing the FAFSA and delays in students receiving scholarship offers from colleges. According to the National College Attainment Network, FAFSA trackeras of March 22, 2024, only 34% of this year’s high school seniors have filed a new FAFSA, a 29% decrease compared to last year. Additionally, technical issues caused multiple delays in transmitting accurate student data to universities, preventing universities from sending financial aid offers to students. All of this is widely expected to have a snowballing effect, leading to a significant decline in university enrollment from 2024-25 onwards. Based on this, our findings were not surprising, but they were sobering: 21% of FAFSA-eligible students said they had not yet filed a new FAFSA for 2024-25 I did. Only 16% of students who successfully filed the FAFSA for the 2024-25 academic year had received at least one financial aid offer from a university.
Who participated in the survey?
In February and March 2024, ScholarshipOwl surveyed high school and college students on the ScholarshipOwl scholarship platform to see how the new FAFSA rollout impacted them. A total of 11,394 students responded.
Of the respondents, 62% were female, 36% were male, and 2% identified themselves as other. Nearly half (47%) identified as white, 21% as black, 17% as Hispanic/Latino, 7% as Asian/Pacific Islander, and 6% as other.
More than half of the respondents (58%) were high school students, and the majority were high school seniors. One-third (33%) were undergraduate students, primarily first and second years of college. 6% were graduate students and 3% identified themselves as adult/nontraditional students.
survey questions
Question 1
We began our survey by asking students, “How is your FAFSA application going for the 2024-25 academic year?”
- 16% said they have filed a FAFSA and have already received one or more financial aid offers.
- 57% said they have filed the FAFSA but have not yet received an offer of financial aid.
- 21% said they plan to attend college in 2024-2025 but have not yet submitted the FAFSA.
- 3% said they will not file the FAFSA because they will not be attending college in 2024-2025.
- 2% said they are not eligible to file the FAFSA because they are not U.S. citizens or permanent residents
Question 2
The next question was, “If you have already received one or more financial aid offers from a university for the 2024-25 academic year, which of the following is included in your financial aid offer?” Please select all that apply. ”
- 64% said they have not yet received any financial aid or scholarship offers for 2024-2025.
- 11% said they were offered a Pell Grant and/or other federal aid.
- 8% said they had been offered a grant or scholarship by their country of residence.
- 21% said they had been offered a college grant or scholarship.
- 3% reported receiving a private/external scholarship offer.
- 3% said they received training from the federal government.
- 2% said their parents were offered a Parent PLUS loan.
- 3% said they would not attend university in 2024-25.
Question 3
Of the 11,394 students who participated in our survey, 7764 students completed additional questions. “Which of the following statements most accurately describes how you feel about the changes to the FAFSA?”
- 44% said they were worried because they had no idea whether they would be able to attend university in 2024-2025.
- 33% said they were excited and expected to receive more aid with the new FAFSA.
- 19% said they were worried they would receive less aid than on their previous FAFSA.
- 2% said they felt frustrated and would likely go to community college to avoid stress.
- One percent said they were disappointed and planned to take a gap year or not go to college at all.
- 2% said they would not attend university between 2023 and 2025.
Important points
Our findings show that much of the media reporting is true. Even among students focused on applying for scholarships, a significant number (21%) have not yet submitted a new 2024 FAFSA. -25th grade. Only 16% of students who have already filed a FAFSA have received at least one financial aid offer from a college. Additionally, one-third (33%) of students said they were excited and hopeful about receiving more aid thanks to the new FAFSA, but one-third (33%) said they felt anxious and fearful. This pales in comparison to two-thirds (66%). , are frustrated or disappointed about the new FAFSA.
How can you make sure your students get into college despite the challenges posed by the new FAFSA?
There are several steps students can take to ensure their admission to college.
- If you plan to attend college in 2024-2025, it is imperative that you file the FAFSA right away. If you haven’t already done so, please submit it now to: www.fafsa.gov.
- Contact your university, or all universities that have offered you admission, and ask about the status of your financial aid offer. Ask if there is any information or documentation you can provide that will make it easier for you to receive an offer of financial aid.
- Prioritize scholarship applications scholarship owl.
- Apply for scholarships at the university you are applying to or currently attending. If you have already applied for these scholarships, please contact the Financial Aid Office to inquire about the status of your application.
- Work part-time during the school year and full-time during breaks. Save the money you earn to go to university.
- Once you receive scholarship offers, compare them and focus on choosing the most affordable university. If your first choice school offers less financial aid or scholarships than others, contact your school of choice to negotiate an offer to a more affordable school.
- Always consider starting with a community college that offers truly affordable options. Don’t forget that community colleges also offer federal and state grant aid and scholarships. So, even if you plan to attend community college, be sure to submit the FAFSA and apply for scholarships.
Remember: Student loans should be your last resort to pay for college. Focus on debt-free funding sources so you can graduate without the burden of paying thousands of dollars for college. Focus on applying for scholarships and jobs instead of loans so you can graduate debt-free. There is an affordable path to college – for more information and to start applying for a scholarship, visit: www.scholarshipowl.com.
