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Coming Soon: Improvements to the Student, Parent, and Borrower Experience
Big Next Gen Launch Coming Soon
Two years ago, we announced the Next Gen Federal Student Aid (Next Gen FSA) initiative, which takes big steps toward improving the way students, parents, and borrowers interact with and access the benefits of the programs administered by Federal Student Aid.
The newest launch of Next Gen FSA implementation kicks off with the consolidation of multiple websites into a single, digital front door: StudentAid.gov. When the site launches this winter, students, parents, and borrowers will be able to access all the information and tools they currently use through an improved interface.
In the new video "The Digital Future of Federal Student Aid," we describe what students and borrowers can expect from Next Gen FSA in the future.
As we move forward in 2020, additional tools will be introduced that will continue to improve the customer experience for students, parents, and borrowers, who will be able to do the following and more:
- Get personalized information about the aid they received
- Simulate their loan repayment options to find a strategy that meets their needs
- Receive counseling about their remaining loan and grant eligibility, make informed borrowing decisions, and manage their existing debt
- Access chat functionality that will provide them with specific answers to their questions
- Plan and maintain eligibility for the Public Service Loan Forgiveness Program
Eventually, borrowers will be able to repay their loans through StudentAid.gov as we deliver on the promise of providing a single portal where our customers can manage every aspect of their federal student aid.
On Nov. 29, 2017, Federal Student Aid announced the Next Generation (Next Gen) Financial Services Environment, which will modernize the technology and operational components that support the federal student aid programs. Students, parents, and borrowers will begin seeing meaningful improvements in the customer experience in early 2018, with significant technology and operational infrastructure changes throughout 2019.
Here are the highlights of the planned improvements:
- Spring 2018–FSA will launch its mobile platform to allow students and parents to complete and submit the Free Application for Federal Student Aid (FAFSA®) form on a mobile device
- Fall 2018–fafsa.gov will be integrated into StudentAid.gov, making it easier than ever to apply for financial aid directly from FSA's leading website; this integration also will let FAFSA applicants switch seamlessly between mobile and web while filling out the application, enabling students and parents to apply for financial aid wherever they are and on a device of their choosing
- TBD–FSA eventually will consolidate all of its customer-facing websites into a single, user-friendly hub to complement the new mobile platform and give students, parents, and borrowers a seamless experience from application through repayment
- Ongoing–FSA is researching dozens of world-class financial services customer experiences from web and mobile to middleware, data processing, analytics, storage, and hosting capabilities; through this market research, FSA is refining its strategy to develop and implement a new loan servicing platform to benefit federal student loan borrowers
December 03, 2019