The College Foundation of West Virginia wants more high school seniors completing the Free Application for Federal Student Aid before they graduate.
For the past two years, only about half of high school seniors filled out the FAFSA, which is the primary application for state and federal financial aid. The foundation wants at least 60 percent completing the form.
The FAFSA has been available since the start of the year for students wanting to attend college in the fall. According to the most recent data, only 12 percent of the state's seniors have completed the form since then. The cutoff date is June 30.
While filling out the FAFSA does not guarantee a student money for college, it does make them eligible for state or federal aid they otherwise would not have access to.
Because the majority of West Virginia students come from poor families - the state is the second poorest in terms of median household income - higher education leaders are trying to boost the state's college-going rate by promoting financial aid options available to those who complete the FAFSA.
"We want to make sure college is affordable for any student who desires to go," said Brian Weingart, financial aid director for the state Higher Education Policy Commission, which is over the foundation's college and career-planning outreach.
Weingart went on to say completing the FAFSA is one of the most important steps in pursuing higher education and that students can receive thousands of dollars of "free money" from both the state and federal government.
But many students still don't complete the FAFSA, and less than a third of high schools in West Virginia are meeting statewide goals to increase the number of seniors filling out the form.
Studies, cited in a 2013 Journal of Student Financial Aid, show barriers to FAFSA completion include the complexity of the form, student apprehension to take on loan debt and the belief that there is no financial need.
According to a White House report of financial aid, an estimated 2 million students who are enrolled in college and would be eligible for federal grants are missing out on receiving financial assistance because they didn't apply. Other studies also conclude there are millions of students missing out on federal financial aid.
Higher education leaders, as well as colleges across the state, have been working with high school officials to increase awareness of the application and help families complete the form, which takes about 20 minutes to fill out. The foundation and commission also offer online resources and hosts FAFSA workshops around the state leading up to College Goal Sunday, which will pair students with financial aid experts at 25 locations in West Virginia on Feb. 21.
A 2007 National Bureau of Economic Research study found that students who receive direct assistance with the FAFSA are 29 percent more likely to enroll in college.
Improving FAFSA completion rates is something the West Virgina Legislature also has taken up. Earlier this week, House Education Chairman Paul Espinosa introduced a bill that will make financial aid planning and filling out the form a requirement of high school personal finance curriculum. The bill currently is pending in committee.
By filling out the FAFSA, students can be considered for federal Pell grants, which awards students up to $5,815. They also can be considered for the Promise Scholarship and the West Virginia Higher Education Grant, awards worth $4,750 and $2,600, respectively. Students aren't require to pay back Pell, Promise or state grants.
The U.S. Department of Education administers nearly $30 billion a year in federal student aid. West Virginia, through its Promise Scholarship and Higher Education Grant, gives out more than $87 million in financial aid.
Because federal, state and institutional aid is limited, students are encouraged to complete the FAFSA as soon as possible. Applications for students hoping to start attending college in the fall are due June 30. To receive the Promise and state higher education grant, students must complete the form before March 1.
More information about the FAFSA may be found at www.fafsa.ed.gov, and more information about state aid and resources can be found at www.cfwv.com.
Reach Samuel Speciale at sam.speciale@wvgazettemail.com, 304-348-7939 or follow @samueljspeciale on Twitter.