There is yet another delay for prospective and current college students awaiting financial aid award letters. On Friday, the Education Department announced an error in its calculations for federal student aid that will result in delays for as many as 200,000 applicants.
The financial aid process for students is already about three months behind schedule. It was initially delayed due to a slow rollout of the new, simplified Free Application for Federal Student Aid released this year. It was further delayed when the department's calculations failed to take inflation into account.
