Financial Aid Administrators Issue Updated 2014 National Profile of Federal Student Aid Programs
FOR IMMEDIATE RELEASE
Contact: Beth Maglione
VP of Communications
NASFAA’s Updated Resource Offers Policymakers, Media The Facts About Student Aid Issues And Funding
Washington, DC, July 30, 2014 -- The National Association of Student Financial Aid Administrators (NASFAA) today released an updated edition of its annual federal student aid primer, the National Student Aid Profile, to better inform members of the media, policymakers and other interested parties about the facts surrounding student aid issues and funding.
"Reauthorization of the Higher Education Act is in full swing with multiple bills recently put forward by both the House and Senate. These measures recommend a variety of tactics, many intended to reduce student debt and borrowing and make the student aid programs easier to access," said NASFAA President Justin Draeger. "NASFAA’s National Profile helps lawmakers and the public better understand the purpose and utilization of these programs as we collectively work to make them stronger for students.”
U.S. Department of Education (ED) data show the number of students applying for federal financial assistance increased 62 percent increase over five years (2007-08 to 2011-12). From 2002-03 to 2012-13, the total amount of federal financial aid awarded to students under Title IV of the Higher Education Act (HEA) jumped from $82.7 billion to an estimated $169.7 billion, a 10-year increase of 105 percent. For 2012-13, the Title IV programs accounted for 71 percent of the $238.5 billion in total financial aid received by college students.
NASFAA’s National Student Aid Profile: Overview of Federal Programs provides the latest data available from ED and The College Board about the programs authorized under Title IV of the Higher Education Act, including:
- Descriptions of the federal student aid programs, including the:
- Federal Pell Grant
- Federal Supplemental Educational Opportunity Grant Program
- Federal Work-Study
- Federal Perkins Loan Program
- Federal Direct Student Loan Program (subsidized and unsubsidized)
- Federal Direct PLUS Loans
- Recent trends in federal program appropriations;
- Income levels of students and families who receive aid; and
- A description of the federal student aid application process.
The National Profile will be presented today to Congressional staffers as part of a policy orientation for those interested in gaining the critical knowledge they need to help shape better, more effective financial aid policy that ultimately increases access and success for students.
NASFAA has experts available to speak to reporters as they write about student financial aid issues. Please contact us at email@example.com or 202-786-6944 for additional information or to schedule an interview.
The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents nearly 20,000 financial aid professionals at approximately 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every ten undergraduates in the U.S. Based in Washington, DC, 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.