Is FAFSA guaranteed?: the future of financial aid
BY SEHAR KITTUR
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As of 2024, the U.S. has a total of 1.77 trillion dollars in student loan debt and the upward trend of that total shows no sign of stopping.
In a time of financial crisis with increasing prices of basic needs and the increasing possibility of a recession, any changes in financial aid is a terrifying prospect. Many students rely on financial aid in order to pursue college, especially low-income communities. As the Trump administration makes moves altering the nature of the American education system, with Trump himself issuing several executive orders on the topic, fears crescendo for past, current, and future students alike.
“I felt a little scared because if it does happen, I wouldn't have [the] resources to pay [for] college,” Camila Hernandez, a senior at DSA, remarked.
Public attention has largely been focused on the dismantling of the Department of Education, which would result in the responsibility of financial aid being shifted to the Small Business Administration. Past experiences indicate that this shift could result in issues with the transfer of information and a staff that is inexperienced with student loans, though that power is ultimately granted to Congress.
“The outward facing programs that are going to be affecting students, there’s not going to be any defunding for those programs,” Secretary of Education Linda McMahon assured in an interview with CNN.
While McMahon makes this promise, Trump has passed 2 other executive orders that have limited financial aid under the Public Service Loan Forgiveness(PSLF) program and income-driven repayment(IDR) plans. The entitlement of Trump to make these changes, however, is still under scrutiny.
“The change will potentially be a decrease in the amount of federal/state aid that’s available to students seeking to further their education after high school… [though] the amount of aid that they are told they’ll receive from a college, should still be granted to them this upcoming academic year,” Ronicia James, a postsecondary access advisor at the Emily K center, remarked.
Photo Credit: Ronicia James
James presents a presentation to juniors at DSA on the many pathways students can take after graduating high school. While a 4-year college may seem the most conventional, other paths may be more financially feasible or advantageous for a particular career.
Students are fearful of any change and how it may affect them. Cost plays a crucial role in college decisions and can be a deciding factor on whether or not to go to college at all.
“All of us depend on financial aid to go to college. If it does get removed, I feel like the upcoming students will not apply to college or will find another way to pay for college,” Hernandez added.
Any change will take time to implement, allowing students an opportunity to search for alternative avenues for aid and, for younger students, to begin saving for college. Scholarships are available on a local level as well as from national organizations, creating a wide array of opportunities to choose from.
“[Students] may feel that it would be impossible for them to attend college if federal or state aid is no longer widely available, but that’s not true! There’s still several other grants, scholarships and loan options that a student can look into. Don’t make your final decision until you’ve compared your financial aid award packages from each college you’re considering!” James concluded.
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