There has been a substantial drop in FAFSA renewals compared to this time last year, according to an analysis of federal data from the National College Attainment Network (NCAN), which showed the 2020-2021 aid cycle’s declines in renewals have more than doubled since the end of February, when total completions were already 2.3% lower than on the same date last year.
Through April 15, there were 4.7% fewer FAFSA renewals — more than 350,000 returning students — this cycle than last, according to NCAN’s dashboard tracking FAFSA renewal and completion data.
Overall, the steep decline represents 244,000 fewer renewals from students from the lowest-income backgrounds. Among those from low-income backgrounds, classified as students with annual family incomes of less than $25,000, the drop represents a more than 8% decline.
For students coming from families with incomes between $25,000 and $50,000, FAFSA renewals dropped 4%, with a 1% decrease among students coming from families with incomes above $50,000. Taken together, the overall decline may shed light on future enrollment trends.