February 12, 2015 – Washington, D.C.: The National Association of Student Financial Aid Administrators (NASFAA) applauds the findings of a new report from the American Council on Education (ACE), “Recalibrating Regulation of Colleges and Universities: Report of the Task Force on Federal Regulation in Higher Education.”
NASFAA’s work informed a variety of the report’s conclusions, including a call for the Government Accountability Office to examine the Department of Education’s estimates of its administrative burden on colleges and universities.
“The higher education community believes that the Department of Education consistently and substantially underestimates the costs and burdens of its rules,” the report states. “Various groups, including the National Association of Student Financial Aid Administrators and the Congressionally created Advisory Committee on Student Financial Assistance, have raised concerns about the processes through which the Department derives estimates associated with its regulations.”
In a NASFAA membership survey published in 2011, nine out of 10 financial aid professionals reported that increased administrative burden takes away from resources and services that promote college access, completion, and successful loan repayment. NASFAA is currently surveying its members again on this topic and plans to release updated results and recommendations in the weeks ahead.
“Unnecessary administrative requirements take financial aid professionals away from what is truly crucial: helping students access college and succeed while they’re enrolled and after they graduate,” NASFAA President Justin Draeger said. “We welcome Congressional scrutiny of this vital issue and look forward to working with ACE and others to help streamline and eliminate unnecessary and duplicative administrative requirements.
NASFAA policy experts are available to comment on the ACE report and the organization’s own work. Please contact us at email@example.com or 202-785-6959.
The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents more than 20,000 financial aid professionals at nearly 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every ten undergraduates in the United States. 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: 2/12/2015