Filings of the Free Application for Federal Student Aid (FAFSA), a necessary first step in accessing financial aid, rose 17.5% to 8.1 million filings in the first quarter of 2010, based on an SLA analysis of Dept. of Education information.
Here is the trends for the first quarter over the last four years, breaking out filings by dependent and independent students:
Academic Year | Dependent | Independent | TOTAL |
2006-07 | 2,978,494 | 2,159,225 | 5,137,719 |
2007-08 | 3,037,287 | 2,111,273 | 5,148,560 |
2008-09 | 3,201,306 | 2,248,468 | 5,449,774 |
2009-10 | 3,871,234 | 2,999,967 | 6,871,201 |
2010-11 | 4,339,920 | 3,730,930 | 8,070,850 |
Growth based on year earlier period |
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2007-08 | 2.0% | -2.2% | 0.2% |
2008-09 | 5.4% | 6.5% | 5.9% |
2009-10 | 20.9% | 33.4% | 26.1% |
2010-11 | 12.1% | 24.4% | 17.5 |
Here are just a few drivers of this growth in FAFSA filings (please feel free to add your own explanations for this growth in filings too):
- Increased enrollment of mid-career professionals seeking to gain new skills may explain faster growth in filings by independent students
- Increased need for financial aid driven by weak economy and high unemployment rates
- Growing awareness of importance of filing the FAFSA early to ensure eligibility for as many sources of financial aid as possible
- FAFSA simplification may also be playing a role in increased filings
Among the fifty states (and DC), Utah, Nevada and Arizona all saw the sharpest increases in filings while Pennsylvania, North Dakota and Vermont had the smallest increases:
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