Federal Financial Aid Applications Up 20%

Direct lending volume is up, too, rising $7.1 billion from last year.

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No surprise here: Applications for federal financial aid are up—way up. The National Association of Student Financial Aid Administrators reports that it has so far processed 3 million FAFSA forms for the upcoming school year, a 20 percent jump from a year ago in the same time period.

As for federal direct-lending, volume was $20.2 billion, up $7.1 billion over a year ago. The number of loans rose 1.6 million, and the number of participating colleges increased by 548.

The Chronicle of Higher Education has more details.