Reimagining Financial Aid To Improve Student Access and Outcomes
As the student aid programs rapidly approach reauthorization in 2014, they continue to face severe funding and efficiency problems. With grant assistance from the Bill & Melinda Gates Foundation through their “Reimagining Aid Design and Delivery” (RADD) project, NASFAA on February 13, 2013 released a policy brief examining the current systems of student aid with an eye towards reimagining how they could be improved in the future.
This report does not make recommendations, but rather puts forward broad policy considerations to generate discussion and debate with the goal of advancing key policy issues facing student aid.
NASFAA has also created a resource page linking to all RADD reports as well as a summary matrix highlighting points of alignment between grantees. The matrix highlights points of alignment between the policy themes of RADD grantees, and is not intended to be a comprehensive analysis of the RADD reports released by the 16 organizations, but rather attempts to capture common themes for reform and review of the financial aid programs. We encourage members to read each full report and hope these resources will help further discussions on reimagining the design and delivery of student aid in this country.
View the presentation below. Scrolling over the video window will display options to jump to different segments of the event.
The policy brief delves into four major areas of future study, including:
- The Value of Institutional and Student “Skin in the Game”
- Student Loan Reform
- Streamlining and Improving Consumer Information
- Rethinking Entitlement and Professional Judgment
In developing this brief, NASFAA convened a group of financial aid directors from across the country and from all sectors of higher education as well as a group of policy advisors and economists. NASFAA also solicited feedback from a separate group of aid administrators, student aid advocates, and higher education policy experts along the way.
The report was unveiled at a forum event on Capitol Hill. Panelists included:
- Justin Draeger, NASFAA President
- Craig Munier, NASFAA National Chair Elect; Director of Financial Aid, University of Nebraska
- Terry W. Hartle, Senior Vice President, pision of Government and Public Affairs, American Council on Education
- Kevin James, Legislative Assistant, Congressman Tom Petri
- Karen McCarthy, NASFAA Policy Analyst