July 23, 2019— Since enactment of the Higher Education Act in 1965, federal financial aid has been a central and critical pathway for college access. It’s more important now than ever for students to have access to strong federal financial aid programs, as Department of Education data show that in the 2016-17 award year 80% of Federal Pell Grant recipients had a family income level of $40,000 or less and 31% of dependent undergraduates who received Federal Work-Study had a family income of less than $30,000.
The National Association of Student Financial Aid Administrators (NASFAA) today published its newly updated National Student Aid Profile: Overview of 2019 Federal Programs, a timely resource that lawmakers, congressional staffers, and members of the media can rely on to gain background on the basics of the federal student financial aid programs that provide funding to millions of students each year. As reauthorization of the Higher Education Act approaches, you may find this resource to be helpful in writing articles on the federal student aid programs, particularly as lawmakers examine program funding levels and effectiveness.
In the National Student Aid Profile, you will find an overview of the following programs:
The Federal Pell Grant Program
The Federal Supplemental Educational Opportunity Grant (FSEOG) Program
The Federal Work-Study Program
The Federal Direct Subsidized and Unsubsidized Loan Programs
The Direct PLUS Loan Program
For each program, in addition to a basic description, you will find the most up-to-date data and information on the following:
Number of Recipients
Total Volume of Awards
Federal Funding Levels
Distribution by Family Income
This resource also contains an appropriations update on federal student aid program funding for the 2019-20 award year, as well as information on student loan repayment and delinquency status, the Public Service Loan Forgiveness program, federal need analysis, and legislation introduced in Congress on student aid topics in 2018. To set up an interview with a NASFAA spokesperson to discuss the Title IV programs budget, appropriations or anything contained in the National Student Aid Profile: Overview of 2019 Federal Programs, please contact NASFAA Director of Communications Erin Powers at [email protected].
The National Association of Student Financial Aid Administrators (NASFAA) is a nonprofit membership organization that represents more than 28,000 financial aid professionals at nearly 3,000 colleges, universities, and career schools across the country. NASFAA member institutions serve nine out of every 10 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: 7/23/2019