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TEMPE — Several Arizona State University students reached out to ABC15, concerned as their financial aid has been delayed for weeks.
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Classes just started for ASU students two weeks ago, but stress levels are already high.
“I’m a first generation, so I’m really new to all of this. Getting all the financial aid help I can get means a lot towards me,” said Brian, a junior at ASU.
He told ABC15 he is still waiting for his student loans to be funded, and he’s not the only one.
Another junior, Isaac Aguero, said he took out private student loans and requested more money to help pay for rent and other needs. He’s still waiting on that money.
“It’s, like, so unexpected. I don’t know if it’s going to be two weeks. I don’t know if it’s going to be four weeks, eight weeks. I mean, it’s concerning because I do have necessities,” Aguero said.
Aguero told ABC15 he started the process around the same time for the last two years and had no issues.
So what’s with the delay?
An ASU spokesperson says changes to student borrowing guidelines under the federal One Big Beautiful Bill Act impacted them, and they’re not alone.
“We acknowledge the delays some students have faced may have real consequences and our team is working very hard to resolve outstanding inquiries as fast as possible.
This is happening at universities from coast to coast after changes made by the federal government to student borrowing guidelines. The new guidelines took effect July 1 and ASU is working to help students understand the changes and their eligibility. Resources and information are online and one-on-one assistance is available, since financial aid is a highly individual matter. ASU had moved the tuition payment date to September 25 for those impacted. Anyone who needs assistance is encouraged to call 855-278-5080.”
ASU did not provide a number of how many students are still waiting for financial aid when asked. However, it is impacting both undergraduates to graduate students as well.
A national financial aid expert told ABC15 there are universities and colleges in the country that are working through system changes tied to the new federal guidelines.
“I would say that this year, for the past year or so since the One Big Beautiful Bill Act was passed last July 4th, has been a year of the biggest change that I have seen in my career in financial aid,” said Karen McCarthy, the Vice President of Public Policy and Federal Relations at the National Association of Student Financial Aid Administrators.
McCarthy said the new changes were implemented July of this year.
“What we are seeing now is that some institutions are scrambling to get all of, it’s mostly systems-based issues processed so that particularly loans can be processed in time for when students need those,” McCarthy said.
ASU has pushed back tuition due dates to later this month for those affected, but for some students, that doesn’t ease their concerns.
“I just hope that ASU communicates, they talk to their students and they find their solutions. Also, just offer something that is helpful or be more clear or give you status on where your loan is at least,” Aguero said.
“We are seeing peak volume and do our best to respond to inquiries as fast as we can. We want to assure students that all ASU students will receive the financial aid they are qualified to receive. We have moved tuition payment deadlines to Sept. 25 to account for delays in processing,” an ASU spokesperson said.
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