New FAFSA guidelines require Financial Aid to update software

The Nicholls Office of Financial Aid’s software systems, which used to award students financial aid via Banner, are still undergoing updates although priority deadline for FAFSA applications are scheduled for October 31.

The government has recently issued changes for FAFSA submissions.

In previous years, applicants were allowed to begin filling out FAFSAs during January of the awarded year. Now, students are given permission to turn in their applications in October of the previous year using their “prior-prior year” tax information. The updates are intended to make the system compatible with the new guidelines.

“At this point, none of the software systems can support these changes, but they are working on it,” Casie Triche, director of Financial Aid, said. “By next October or probably sooner, all of the major programming changes of our software vendor will be complete.”

In short, students are allowed to use 2015 tax information for the 2017-2018 FAFSA.

“The bulk of our incoming freshmen want to talk about their financial aid options, but how are we supposed to assist them if we can’t see their FAFSA application? These changes will allow them to complete their FAFSA nearly a year in advance, which will benefit the student and our office as well,” Garrett Clement, associate director of Financial Aid, said.

The government has anticipated these changes for several years but finally decided to go forth with this new method for the convenience of applicants.

“Over the years, our consideration deadline has been a marketing gimmick or incentive for students to fill out their FAFSA applications early. While we recommend that you submit your FAFSA as early as possible, there are no real consequences in applying after that date. You do have to take into consideration that the closer we get to a semester beginning, the longer it will take for you to be processed,” Clement said.

The Office of Financial Aid still encourages students to fill out their FAFSAs, so they can punch in students’ information as soon as their office’s computer software can support it.
Early submissions of the FAFSA only guarantee that applications will be processed before school fees are due; however, it does not guarantee that the student will receive financial aid.

The applicants must meet the general eligibility and SAP requirements to qualify for funding. Among many, some of these requirements include: being an United States citizen, pursuing a degree and maintaining satisfactory academic progress.

Triche also explained that early applicants might have a better chance of being awarded grants if they are eligible.

“Pell grants and loans, which is federal government money, are never ending, but grants and other funding we give to students are on a first come, first serve basis. So, getting FAFSA applications filled out earlier rather than later is a strong incentive.”

FAFSA applications can also be chosen or flagged by the Department of Education for verification, which, in turn, can slow the process of approving applications.

Clement explained, “The government randomly selects about thirty percent of all applications to verify, and some applications are flagged if some information doesn’t seem right. The student will then have to submit a form and some income information to us. This verification has the ability to delay the applications’ processing, so we, again, always encourage our students to fill out the FAFSA as soon as they can.”