As college enrollment season approaches, families across the country are still in search of last-minute financial aid. The delays in colleges delivering financial aid packages stemmed from the FAFSA debacle that started the college admissions season. Families were left unsure of what they would pay for college until May or June. The U.S. Dept. of Education reported a 9.4% decrease in FAFSA applications for the 2024-25 academic year compared to the previous year, indicating that delays could result in fewer students receiving the aid they need.
For families still seeking last-minute financial aid, there are several options to explore. One crucial step is to fill out the FAFSA, with a deadline of June 30, 2025. Many states and colleges have their own deadlines, but some institutions have extended enrollment dates and financial aid priority deadlines. Additionally, applying for last-minute scholarships can provide funding for the 2024-25 academic year, with many scholarships available with deadlines this summer.
Negotiating financial aid packages is another strategy students can use to secure additional aid. If there have been changes in a family’s financial situation since submitting the FAFSA, such as a job loss or medical expenses, documenting these circumstances can support a formal appeal to the financial aid office. Students should follow up with the financial aid office after submitting an appeal to ensure it was received and inquire about the response timeline.
Employer-based financial aid opportunities are worth exploring as well. Many companies offer tuition reimbursement or free higher education opportunities through specific online schools. Employers such as Starbucks, Amazon, Boeing, Disney, and Home Depot are known to provide assistance with college tuition. Additionally, some employers may be motivated to help pay for college upon learning about tax benefits they can receive through programs like the CARES Act.
Considering alternative approaches to financing college, such as borrowing money temporarily while seeking other aid or scholarships, can provide families with additional options. Community college may be a cost-effective option for students to consider before transferring to a four-year university. By completing the first two years at a community college, students can save significantly on tuition and fees. Ultimately, families must carefully evaluate their college plans and financial options to make informed decisions before the time to secure financial aid runs out.
