NASFAA Statement on President’s 2014 Budget Request
FOR IMMEDIATE RELEASE
Contact: NASFAA Communications
Financial Aid Association Applauds Proposed Fix on Interest Rates, Supports Continued Conversation on Affordability and Success
WASHINGTON, DC, APRIL 10, 2013 -- In response to President Obama's fiscal year (FY) 2014 budget request, National Association of Student Financial Aid Administrators (NASFAA) President Justin Draeger issued the following statement:
"Financial aid administrators applaud the President's efforts to make college accessible and affordable, particularly through the continued strong support given to the Pell Grant program," said NASFAA President Justin Draeger. "We are also heartened to see bipartisan support for finding a permanent, sustainable solution to federal student loan interest rates that would also stop the subsidized Stafford loan from doubling to 6.8 percent this July. Last month, we testified to Congress that all federal student loan interest rates should be market-based, variable, sustainable and avoid the one-year expensive fixes that have created confusion for students and parents. The President’s interest rate proposal accomplishes those goals and deserves consideration. We look forward to working with the Administration and Congress to find a viable path forward on interest rates before July 1.”
Regarding the proposal to distribute campus-based aid to institutions that keep costs down and enroll and graduate higher numbers of Pell-eligible students, Draeger said, "We embrace the concept of shared accountability and responsibility in keeping the costs of college down and helping students succeed, and believe it must be done in a way that does not impede institutional freedom or unfairly penalize schools that serve diverse student populations. NASFAA's recent policy considerations put forward as part of the Bill and Melinda Gates Foundation's Reimagining Aid Design and Delivery outlined how a portion of campus-based funding could be used to incentivize schools to create environments that foster better-than-predicted student outcomes. NASFAA will continue to work with the Administration and Congress to ensure no qualified student is denied access to and success in higher education."
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The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents nearly 20,000 financial aid professionals at 2,800 colleges, universities, and career schools across the country. Each year, financial aid professionals help more than 16 million students receive funding for post-secondary education. Based in Washington, D.C., NASFAA is the only national association with a primary focus on student aid legislation, regulatory analysis, and training for financial aid administrators. For more information, visit www.nasfaa.org.