On this page, you'll find proposals that aim to improve affordability in innovative ways for students outside of grant or campus-based aid funding proposals.
Sponsor: Rep. Garcia [D-IL]
NASFAA Summary & Analysis: This bill aims to diversify the teacher workforce by eliminating financial barriers to the teacher preparation programs. This bill primarily increases the maximum TEACH Grant award from $4,000 to $8,000 per year. Additionally this bill would protect the TEACH grant award from being cut by the Budget Control Act; eliminate the loan conversion penalty; and allow the TEACH grant to cover the full cost of attendance, rather than solely tuition, fees, and on-campus housing.
Sponsor: Rep. Yarmuth [D-KY]
Signed into Law: 3/11/2021
NASFAA Summary & Analysis: This act set aside $40 billion for higher education to create a new tranche of higher education emergency relief funding. The act stipulates that at least half of the funds must go directly to students in the form of emergency financial aid grants. The act also includes a provision that would close the so-called 90/10 loophole, though this new rule would not go into effect until July 1, 2023 at the earliest.
Publication Date: 7/12/2021