The U.S.
Education Department said it has discovered a calculation error in hundreds of thousands of student financial aid applications sent to colleges this month and will need to reprocess them — a blunder that follows a series of others and threatens further delays to this year's college applications. A vendor working for the federal government incorrectly calculated a financial aid formula for more than 200,000 students, the department said Friday.
While the department fixes those students' records, it's encouraging colleges to make their own calculations and craft “a tentative aid package.' Draeger pushed against that idea, saying colleges can only work with “valid and correct data.” “It is not feasible or realistic to send out incorrect FAFSA data and ask thousands of schools to make real-time calculations and adjustments to the federal formula,” he said.
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Hundreds of thousands of financial aid applications need to be fixed after latest calculation errorThe U.S. Education Department says it discovered a calculation error in hundreds of thousands of student financial aid applications sent to colleges this month and will need to reprocess them, a blunder that follows a series of others and threatens further delays to this year’s college applications.
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Hundreds of thousands of financial aid applications need to be fixed after latest calculation errorThe U.S. Education Department says it discovered a calculation error in hundreds of thousands of student financial aid applications sent to colleges this month and will need to reprocess them, a blunder that follows a series of others and threatens further delays to this year’s college applications.
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