FAFSA changes could unlock more than $1B in aid

(CNN)– The Department of Education is adjusting this year’s free application for federal student aid.

This is the form students use to apply for pell grants and federal student loans.

A newly overhauled form that makes applications easier was released on Dec. 30, 2023.

But the department didn’t tie in the latest inflation data into it. That’s what they’re doing now.

The change might delay things a bit but it will also release an additional $1.8 billion in financial aid.

Most colleges use the same form for their own financial aid packages.