The rules are changing this year, but the schools you list and the order you put them in can still affect your financial aid.
You probably know that yourincome and assets are important factors in determining your eligibility for college aid. But did you know that the schools you list on the Free Federal Application for Financial Aid, or FAFSA, can also play a role?
When students file the online FAFSA, they can list up to 10 colleges that they’re interested in. Most students list them in preference order.
Statistically, students who are admitted to the college they list first on the FAFSA enroll there about half to two-thirds of the time. For the college listed second, about a third of students will enroll if they’re admitted. For the college listed third, about 10 percent will enroll if admitted.
It’s an open secret that some colleges used this insight in their admissions and financial aid decisions. For example, if a college wasn’t listed in the top three, it might just reject the student to try to improve its “yield,” which has an impact on some college rankings. That led to anomalous situations like a student being admitted to an Ivy League institution but rejected by less selective colleges. (No college has confessed to using FAFSA position in its admissions decisions because it is illegal under federal privacy rules concerning FAFSA data.)
To prevent future abuses, starting with the 2016-17 FAFSA, the U.S. Department of Education will no longer share your list of colleges with the schools receiving your FAFSA data. But your list will still be available to state aid agencies, and some states require that students list an in-state public college first to qualify for state aid. So the order in which you list your colleges remains important for financial-aid purposes.
Read the whole post: http://time.com/money/4124705/fafsa-listing-colleges/
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