FOR IMMEDIATE RELEASE
Contact: Haley Chitty
Director of Communications
February 13, 2012 -- In response to President Obama's fiscal year (FY) 2013 budget request, National Association of Student Financial Aid Administrators (NASFAA) President Justin Draeger issued the following statement:
"Financial aid administrators appreciate that President Obama continues to make college access and affordability a top priority," said NASFAA President Justin Draeger. "Proposals that keep interest rates low, provide more funding to students, and encourage a shared commitment to college affordability are welcome discussions after multiple years of student aid cuts.
"Continued support for the Pell Grant program is essential. Exploring ways to expand campus-based financial aid programs like the Federal Work-Study and Perkins Loan programs are crucial to our efforts to help students and families meet the rising costs of college. And providing new funds for programs that increase college access and completion will go a long way in helping schools find innovative solutions to persistent access and success challenges.
"While we applaud the administration's proposal to postpone the doubling of the Subsidized Stafford Loan interest rate, in the future we must find a permanent, sustainable solution to providing low-cost, predictable federal loans to students and parents. We continue to be concerned about proposals that would enact permanent changes to the student aid programs that would only provide temporary solutions to long-term funding issues. And while we embrace the concept of shared accountability and responsibility in keeping the costs of college down, it must be done in a way that does not impede institutional freedom or unfairly penalize schools that serve diverse student populations.
"We look forward to working with President Obama and Congress on these proposals in the months ahead. The growing deficit and tough economy make it more imperative than ever to focus valuable federal resources on investments like education that will ultimately grow the economy."
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.
Publication Date: 2/13/2012