Survey Finds Families Struggle to Navigate FAFSA; Financial Aid Officers are Parents’ Top Pick for College Planning Advice
The index also shows that parents who seek help with FAFSA and other financing questions place the most trust in a college's financial aid officer or their own financial advisors, while students turn equally to family members and financial aid officers.
Families struggle to complete the FAFSA application. Thirty-seven percent of parents and 41 percent of students found the FAFSA process confusing. Of those parents who sought FAFSA support, 25 percent went to college financial aid officers, and 57 percent of students consulted their parents. However, more than 40 percent of parents and 31 percent of students did not seek advice about planning for college costs.
Financial aid officers are the top information source for families planning to pay for college. Parents who requested guidance trust financial aid officers (88 percent) and financial advisors/planners (86 percent) over family members. Further, 85 percent of students place equal trust in family members and financial aid officers.
The College Savings Gap is growing. Many parents (44 percent) and prospective students (45 percent) haven't put aside any money to finance higher education. Overall, parents saved an average of
"This year's College Confidence Index draws a clearer picture of how many people overlook opportunities to manage one of the most important investments of their lives," said
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Methodology: These are some of the findings of an Ipsos poll conducted on behalf of
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