In 2017, Metro Atlanta’s graduation rate was 80% and only 75% of those graduates enrolled in a post-secondary institution. A major barrier of college enrollment is cost. Sixty percent of Georgia college graduates finish with debt. Yet only 67% of Georgia’s high school seniors completed a FAFSA last year, which means that some students are leaving potential scholarships and low-interest student loans on the table.
Completion of FAFSA (Free Application for Federal Student Aid) is critical because most schools and scholarship providers, including the Community Foundation for Greater Atlanta, require FAFSA completion for scholarship award consideration. The FAFSA form asks for information about the student’s household income, assets and other household information, which is then used by the US Department of Education to calculate the student’s Expected Family Contribution, or EFC, the estimated dollar amount that a family can afford to pay for college for the following academic year. Colleges and universities use ECF and other data generated through FAFSA to determine student eligibility for federal, state, and college-sponsored financial aid, including grants, educational loans, and work-study programs. Third party scholarship providers use this data to establish consistent metrics for financial need as they evaluate scholarship applications.
For many students, barriers to FAFSA completion include lack of access to a computer and/or internet at home, difficulty gathering their parent’s tax information, particularly in separated households, and lack of information about the financial aid process and timeline. To further encourage FAFSA completion, Federal Student Aid recently launched a mobile app, allowing students to complete their application from a mobile devise for the first time, making it easier for students that do not have a desktop or internet at home. Students can get started with their 2019-2020 FAFSA form today. Completing FAFSA early puts students ahead because it puts them in the running for scholarships with early deadlines, and schools often commit their limited funds to students who apply earlier in the admissions process.
Interested in other financial aid opportunities? Make sure to check the Foundation’s website in December for updates on our scholarship programs. And don’t forget to help the students in your life complete their FAFSA form!
Interested in supporting education?
Contact your philanthropic officer.
Sources:
- https://l4lmetroatlanta.org/wp-content/uploads/2018/04/L4L-2018-AR_web-FINAL.pdf
- https://www.washingtonpost.com/news/grade-point/wp/2018/08/16/going-mobile-the-governments-most-crucial-financial-aid-form/
- https://public.tableau.com/profile/bill.debaun.national.college.access.network#!/vizhome/FormYourFutureFAFSATracker/CurrentWeekRanking
- https://ticas.org/sites/default/files/pub_files/classof2016.pdf