NASFAA joined six other higher education associations Tuesday in a letter urging Congress to pass the The Need-Based Educational Aid Act Of 2007 (H.R. 1777), a bill that would permanently renew a provision (known as Section 568) that allows qualifying colleges and universities to establish common approaches for awarding non-federal, institutional student aid.

The provision is intended to increase access to higher education by promoting financial aid policies that support the largest number of financially needy students. It does not permit discussion or comparison of institutional awards for individual students. This provision has been renewed twice before - once in 1997 and again in 2001 - and in both instances, it passed the Judiciary Committee by voice vote and the full House under suspension.

Last year, colleges provided over $26 billion in grants from their own funds, 76 percent more than the approximately $15 billion the federal government made available through the Pell Grant, Supplemental Educational Opportunity Grant, Leveraging Educational Assistance Partnership Grant, and Federal Work Study programs combined, according to the ACE letter.

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