SCHOOLED

College Financial Aid Is About to ‘Dramatically’ Change

The years-old rule that gave more federal financial aid to families with two or more kids is coming to an end.

The years-old rule that gave families with two or more kids more federal financial aid is coming to an end, The Wall Street Journal reported Tuesday. Department of Education changes to federal financial aid calculations for the 2024-25 school year will examine family members individually, rather than as a whole family unit, as it’s done currently. In practice, this means more students may be eligible for federal aid, but families will no longer get a more federal financial aid for having multiple children in college. The new rule will “dramatically” change the way students get financial aid, according to Brookings Institution nonresident fellow Phillip Levine. “The majority of students are going to be eligible for a different amount of financial aid next year than they were last year,” Levine told the Journal.