"The Financial Aid Simplification and Transparency Act of 2014 would amend the Higher Education Act in several ways," POLITICO Pro reports.
"[S]crap the FAFSA, provide for year-round Pell grants, allow prior prior-year income data, let college officials counsel students on how to avoid borrowing too much, streamline repayment plans and trim options down to one loan and one grant program — eliminating subsidized Stafford loans, which would fund the change to Pell. ...
'We’re with Sens. Alexander and Bennet in the spirit of what they’re doing,' National Association of Student Financial Aid Administrators President Justin Draeger said, adding that 'there are a lot of logistical questions that still need to be answered.'
Like this one, raised by one savvy intern at Thursday’s briefing: If the bill allows for prior prior-year income data — in other words, data from two years ago — how does an applicant who was dependent two years ago but isn’t now declare herself?
The senators were baffled, but after a moment of confusion, a staffer assured the room the question would be addressed."
A paid subscription is required to view the full article on POLITICOPro.
NASFAA's "Financial Aid in the News" section highlights media coverage of financial aid to help members stay up to date with the latest news. Inclusion in Today's News does not imply endorsement of the material or guarantee the accuracy of information presented.
Publication Date: 6/20/2014