Edvisors Releases Trends In Paying For College For 2016

By Megan (Weyrauch) Johnson on November 16, 2015

Paying for college. These words haunt you in your sleep, annoying you throughout your days of class and social activities. It’s something we must all do as college students and something we collectively despise.

Recently, Edvisors — publisher of free websites that help students and families plan and pay for college — identified several key trends in paying for college that will affect students for 2016, according to a recent press release.

Editor of Edvisors.com and co-author of Filing the FAFSA, David Levy said these trends are important in affecting how students pick the right school for them, apply for financial aid and pay for college.

usnews.com

“Students and their families will see some immediate changes next year, such as having two versions of the FAFSA form, as well as potential longer term changes based on election-year campaign promises,” he said.

Here are some of the trends Edvisors identified.

Students will complete two FAFSAs in 2016. 

High school seniors and college freshmen and sophomores applying for financial aid will file two Free Application for Financial Aid (FAFSA) forms next year. Students filing for the 2017-2018 academic year must use the new FAFSA form available October 1, 2016, in addition to a FAFSA for the 2016-2017 academic year (available January 1, 2016).

Additionally, to make it easier to complete the 2017-2018 FAFSA, you will use income and tax data from 2015 rather than from 2016. This will ensure the process is not held up if you and your parents haven’t filed your 2016 taxes at that point.

Colleges will no longer see the names of other schools you listed.

Previously, some colleges used the order of colleges you listed in your application for financial aid (generally ranked in preference order) in order to influence their admission and financial aid decisions. However, starting with the 2016-2017 FAFSA, colleges will no longer see the names of the other schools you list.

The list of colleges will still be submitted to your state, though, so it can evaluate your eligibility for state grants.

Student debt will still climb.

According to the press release, without any legislative change, the average student debt when you graduate will match or surpass the $35,000 level incurred by the class of 2015. This will affect your future career choices in that six months after you graduate, you will need to be able to pay for both your daily expenses and start paying off your loans.

nationalmemo.com

Expect more grants next year as part of your financial aid package.

Though student debt is increasing, the average grant increased $570 while the amount students borrowed in Federal loans declined by $720. Since grants don’t get repaid, they reduce your end cost of a degree. This could mean the difference between going to a private institution or a public university or community college.

Every year, millions of students and their families turn to Edvisors.com for timely, accurate information, advice and tools that help them confidently make the best decisions about paying for college. Find more information at www.edvisors.com.

Hello! I am currently serving as the Director of News/Managing Editor for Uloop News. I recruit writers, edit many articles, manage interns, and lead our National Team. When I'm not writing or editing, I love to take part in community theater, read, and enjoy the outdoors with my husband Kevin. I have a Bachelor's degree in English and Professional Writing from Ohio State University and an M.Ed. in Student Affairs in Higher Education from Wright State University. If you ever have questions or just want to chat, email me at megan@uloop.com.

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