College administrators expect more students to need financial aid for the coming school year---but fewer are applying for it.
Applications for federal student financial from high-school seniors dropped below year-ago levels in mid-March, just as the coronavirus pandemic hit campuses across the U.S. and force remote learning. According to an analysis of federal data by the National College Attainment Network, by April 24, applications for financial aid were tracking 2.8% behind last year, with 55,582 fewer applications. And, 250,000 returning students had not renewed their FAFSA applications for the 2020-21 cycle.
The decline is troubling because it indicates that some teens may have erased college entirely from their fall plans. FAFSA completion is a strong indicator of college enrollment.
These numbers should be of concern to FAMU, where nearly 65% of the student body depends on federal Pell Grants to pay for a portion of their education. This could be a gut punch for other HBCUs, particularly those dependent on large numbers of low-income students and who rely heavily on tuition.