Melissa Korn
speaker
822 appearances
14 recordings
1 series
first heard Sep 2017
last heard Sep 2024
Melissa Korn’s voice in public audio — every appearance, attributed to the second.
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Appearances
And then the remainder is forgiven.
And this program has been around for a long time.
But people weren't being approved to have their debt wiped away until Biden.
revamped the program quite a bit and you saw numbers really skyrocket.
A lot of his efforts have been caught up in court battles and it's caused a lot of consternation and uncertainty for borrowers because they don't really know what programs are and aren't approved and whether they'll be reversed and all of that.
So until they see their zero dollar balance, they don't really believe it's going to happen.
It was really hard for a lot of families to figure out how much college might cost, which is one of the main factors in deciding where to go for so many families.
This is tens and tens of thousands of dollars you're talking about.
The FAFSA is really the gatekeeper to most financial aid at colleges and universities nationwide.
So it allows families to access scholarships, grants, and loans from the federal government, but also from the institutions themselves.
Most schools require that students fill out the FAFSA in order to even be considered for a lot of their merit and need-based grants and
scholarships.
So if you want financial aid in college, this is your first step.
So the Department of Education overhauled the FAFSA.
They redid the form itself, so what families saw when they filled out the application.
They also made a lot of changes to the formula, to the calculations behind it, and to the technology behind it that allowed the form to pull in information from the IRS, from tax forms, things like that.
So it was a major overhaul and it just did not go smoothly by any measure.
It delayed the start of the process by two months.
It delayed the actual process by even longer in some cases.
So the application for the past eight or 10 years has opened October 1st.
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