The 2024-25 academic year brings significant changes to the financial aid landscape, with the rollout of an updated Free Application for Federal Student Aid (FAFSA). However, a recent US Department of Education delay in the distribution of FAFSA data is causing ripples across all colleges and universities, affecting admission timelines and student decisions.
The FAFSA Delay Explained
Traditionally, colleges send out financial aid award letters to accepted students in March. These letters play a crucial role in helping students make informed decisions about where to enroll. However, this year, the Department of Education announced that colleges won’t receive FAFSA data until mid-March – months later than it is typically expected. The delay stems from the implementation of major changes to simplify the FAFSA, as mandated by Congress. These changes aim to make more students eligible for aid but have resulted in a bumpy rollout.
Impact on Students and Institutions
- Commitment Deadlines: With financial aid offers expected to go out only in April, colleges are grappling with how to adjust their commitment deadlines. Many institutions have extended their deadlines or suspended them indefinitely. ONU applicants are encouraged to submit their Enrollment Deposit to ensure housing choice, and secure their place in the incoming class. Learn more about Olivet’s Financial Aid and Affordability.
- Application Deadlines: Some colleges are also extending application deadlines. Olivet offers a rolling admissions process, so students are informed of their decision soon after applying.
- Financial Aid Accuracy: Many colleges fear inaccuracies if they send out offers before receiving students’ FAFSA data. The new FAFSA form introduces significant changes to student aid calculations, making advanced precise offers challenging. The team of ONU enrollment and Financial Aid professionals are committed to awarding nearly $100 Million in Financial Aid and Grants this year, making it one of our largest ever.
Navigating Uncharted Waters
This situation echoes the flexibility granted during the pandemic in 2020. Colleges are once again adapting to unforeseen circumstances, prioritizing student well-being. As we await FAFSA data, Olivet Nazarene University remains committed to supporting our students through these challenges. We encourage prospective students to stay informed and communicate with our financial aid office.
As the FAFSA delay is reshaping timelines, Olivet is committed to ensuring accurate financial aid offers. As we navigate these murky waters together, our focus remains on providing a quality education and supporting our students’ dreams. Our team is always available for discussion or questions. Call 1-800-648-1463.
The Olivet Nazarene University FAFSA CODE is 001741
Read: HOW THE FAFSA SIMPLIFICATION PROCESS AFFECTS YOU for more great content, and details on how to apply for aid.
For more information on the FAFSA and its impact, visit the Federal Student Aid website
