Following two turbulent years of the simplified FAFSA, this year’s financial aid cycle has some experts predicting a record year in student applications. Recent developments further prove their case.
Through the end of January, 38.6% of the high school class of 2026 has completed a FAFSA form, according to the National College Attainment Network’s updated tracker.
The over 1.5 million students who have completed a FAFSA represent a seismic 51.9% increase over last year’s class and 9.7% change compared to the class of 2023, the last cohort to have received the FAFSA by the traditional Oct. 1 opening.
The class of 2026 is the first in the last three years to have received the form by Oct. 1—now a government mandate.
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Other highlights from the latest data include:
- 66% increase in seniors completing FAFSA from low-income high schools
- 63% increase in seniors completing FAFSA from high-minority high schools
- A 27% jump in students’ eligibility for the maximum Pell Grant over the 2023-24 pre-FAFSA simplification cycle
“We are finally seeing the promise of a better and simpler FAFSA made real,” said Kim Cook, CEO of the National College Attainment Network.
The potential rise in Pell-eligible students develops amid considerable enrollment growth from low-income students.
The National Student Clearinghouse Research Center found that students hailing from lower-income ZIP codes enrolled at higher rates than other students this past fall. This trend held among highly selective four-year institutions.
Similarly, first-year Hispanic and Black student enrollment has risen by as much as a third across state flagships since affirmative action ended. However, student enrollment at elite institutions like Stanford and the University of Chicago fell.
With five months left in the application cycle, the class of 2026 is on track to break the record for the percentage of seniors submitting the form. The class of 2018 set the record at 54.5%.
“This year’s smoother process is helping to rebuild trust in the financial aid system with the students and families that NCAN member organizations serve every day, ensuring that more students will gain access to the Pell Grants that help make postsecondary education more affordable,” Cook said.
