Financial Aid Administrators Issue Updated National Profile of 2012 Federal Student Aid Programs
FOR IMMEDIATE RELEASE
Contact: Haley Chitty
Director of Communications
Washington, DC, June 27, 2012 -- The National Association of Student Financial Aid Administrators (NASFAA) released an updated edition of its annual federal student aid primer, to better inform members of the media, policymakers and other interested parties about the facts surrounding student aid issues and funding.
NASFAA President Justin Draeger delivers opening remarks. See more event photos.
"As the U.S. economy struggles to move out of recession and college costs climb, more and more Americans rely on federal student financial assistance programs to help them meet their postsecondary expenses," said NASFAA President Justin Draeger. "U.S. Department of Education data shows that the number of students applying for federal financial aid jumped from around 19 million in award year 2006-07 to nearly 30 million in 2010-11--a nearly 60% increase in just five years."
From 2000-01 to 2010-11, the total amount of federal financial aid awarded to students under Title IV of the Higher Education Act (HEA) jumped from $64 billion to an estimated $169 billion, a 10-year increase of 164%. However, despite the increasing importance of federal aid programs, most Americans and many policymakers still have a poor understanding of the federal student aid system and its programs and processes.
NASFAA’s National Student Aid Profile: Overview of 2012 Federal Programs provides the latest detailed information and data about each of the programs authorized under Title IV of the Higher Education Act, including:
- descriptions of the federal student aid programs, including the:
- Federal Pell Grant
- William D. Ford Direct Student Loan Program & Federal Family Education Loan Program
- Federal Supplemental Educational Opportunity Grant Program
- Federal Work-Study
- Federal Perkins Loan Program
- 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 was 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 firstname.lastname@example.org 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 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.