<p>I just received an email from a college that we have been waiting for FA package for our soon to be college freshman. It stated that due to the sequestering of funds all across the agencies and functions of the US government starting tomorrow, and the impact on student financial aid packages, packages will be delayed at least 2 more weeks, so that they can determine the implications of the sequester.<br>
First changes to the tax structure by the IRS caused delays in filing due to on line forms not being ready, and now this. Will anyone ever be able to make a decision by the coming deadlines? Just venting....</p>
<p>This is upsetting on so many levels. Not like anyone will extend the timeline for kids to decide on offers so how are they supposed to do this?</p>
<p>Feels like this whole cycle was cursed starting with that blasted Sandy storm that wrecked peoples lives and pushed deadlines which pushed timetables as well. Then that fiscal cliff debacle and now we’re at the latest and greatest sequester monster.</p>
<p>What to do? Sit tight and wait. Or as the parents 2013 board has been saying lately…just keep swimming…just keep swimming.</p>
<p>My kids’ FA amounts for next quarter went through and are unchanged.</p>
<p>They are unchanged in that they “might” change. If there is no Pell, you might not see a change … although campus-based aid such as work study & SEOG might suffer cuts, too. However, you WILL see higher loan origination fees if Congress doesn’t act quickly.</p>
<p>My understanding is that PELL is untouched by sequester. Maybe the loans?</p>
<p>I just found a memo that says 2013-14 Pell Grants are unaffected, Federal Work-Study and FSEOG funding is reduced by approx $86 million, and loan fees are increased.</p>
<p>Pell is unaffected for 2013-14, but will be negatively affected in the future if left as is. FWS and SEOG will be cut for 2013-14, but schools have absolutely no idea yet how much their own allocation will be affected. Loan fees are increased effective 3/1, but we don’t know how much yet … so I cannot process any loans in the interim until we have been told exactly how much they will rise.</p>