Terry Savage: It’s time to act on FAFSA, Medicare Advantage
Today’s column focuses on two time-critical updates on recent columns. The first is for younger families who are seeking financial aid for college through the FAFSA form. The second is for seniors who want to rethink their Medicare Advantage programs. Time is running out for both.
Millions of students and their parents are still caught up in the FAFSA debacle over applications for financial aid. To “simplify” this required filing using a new formula and an online format, the Department of Education has created an incredible logjam that threatens the entire college acceptance process this spring.
First, the new program got off to a much-delayed start, opening in January instead of this past September. As a result, as of Feb. 1, only 4 million of the 18 million applications expected to be submitted had been completed.
Since colleges determine aid packages based on FAFSA (even for many non-federal grants), the government delay has stalled the entire process, which is traditionally completed by March 1. That’s impossible now. And it means that student decisions on attendance, which are due by May 1, will also be impacted.
