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FAFSA Calculation Error Affects Over 200,000 Applications

The U.S. Education Department is working to correct a significant mistake in financial aid calculations, as colleges adjust deadlines to accommodate affected students.

Overview

  • The U.S. Education Department discovered a calculation error in over 200,000 student financial aid applications, necessitating reprocessing.
  • A vendor's mistake in calculating a financial aid formula has led to delays in college application processes.
  • The error will not affect 1.3 million applications processed correctly; efforts are underway to correct the mistake.
  • Colleges are extending deadlines for accepting financial aid offers to accommodate the delays.
  • Senate Republicans are seeking a hearing with Education Secretary Miguel Cardona over concerns regarding the FAFSA rollout.