The change in the federal student-aid application process that the Obama administration announced last month may at first sound arcane. Students will be able to apply earlier for aid, and to use older tax data, a practice with the requisite wonky name "prior prior year" or PPY.
But the change, observers say, could havebig implications — and not only for financial-aid offices.
The change won’t take effect until around this time next year, so no one knows for sure how it will play out.
Read more at The Chronicle of Higher Education: http://chronicle.com/article/How-Fafsa-s-New-Reliance-on/233701