In a groundbreaking move, New York State has implemented a new requirement aimed at increasing college access for its high school seniors. Starting with the fiscal year 2024-25 budget, every public school district in the state must ensure that every high school senior completes either the Free Application for Federal Student Aid (FAFSA), a similar financial aid form for undocumented students, or a waiver indicating that they or their parents have opted out of financial aid. This bold step comes as states across the country grapple with declining FAFSA completion rates and aims to ensure that students are aware of and can access the financial aid available to them.
Addressing the FAFSA Completion Crisis
The decision to mandate FAFSA completion or opt-out waivers is a direct response to the challenges faced by students in accessing financial aid. The National College Attainment Network estimated that as of March 29, FAFSA completions in New York state were down by 24 percent compared to the previous year. In New York City, the decline was even steeper, with a decrease of over 45 percent. This decline is particularly concerning as the FAFSA is a critical gateway for students to access federal financial aid, including grants, loans, and work-study opportunities.
The reasons behind the decline in FAFSA completion rates are complex. The U.S. Education Department's rollout of the new FAFSA application has been fraught with issues, leading to confusion and frustration among students and families. Additionally, the COVID-19 pandemic has exacerbated existing barriers to completing the FAFSA, such as a lack of access to guidance counselors and other support services.
By requiring high school seniors to either complete the FAFSA or opt-out, New York State is taking proactive steps to address these challenges. The opt-out waiver is designed to ensure that students and their parents are aware of the financial aid available to them, even if they choose not to pursue it. This approach aims to reduce barriers to FAFSA completion while also promoting financial literacy and awareness among students and families.
Investing in Higher Education
The new mandate is part of a broader effort by New York State to increase access to higher education and support students on their path to college. The fiscal year 2024-25 budget includes significant investments in higher education, totaling $7.58 billion, up from $7.22 billion in the previous year. Governor Kathy Hochul has emphasized the importance of ensuring students have access to the financial support they need to succeed in college.
One key aspect of the budget is the increase in the state's minimum Tuition Assistance Program (TAP) award from $500 to $1,000. This change will help make college more affordable for low-income students and expand access to financial aid for more students across the state. Additionally, the budget raises income cutoff thresholds for TAP eligibility, further expanding access to financial aid for middle-income families.
The budget also includes increased state operating support for the City University of New York (CUNY) and State University of New York (SUNY) systems. This funding will help these institutions maintain and improve their academic programs and support services, ensuring that students receive a high-quality education.
Impacting the Future of Higher Education
The new mandate and increased funding for higher education in New York State have the potential to have a lasting impact on the future of college access and affordability. By requiring FAFSA completion or opt-out waivers, the state is sending a clear message that it is committed to ensuring that all students have access to the financial aid they need to pursue higher education. Additionally, the increased funding for TAP and state operating support for CUNY and SUNY will help make college more affordable for thousands of students nationwide.
New York State's decision to require FAFSA completion or opt-out waivers for high school seniors is a significant step forward in addressing the challenges of college access and affordability. By ensuring that students are aware of and can access the financial aid available, the state is helping to level the playing field and create opportunities for students to succeed in college and beyond.
